POLI 441 Lecture Notes - Lecture 8: Voluntary Export Restraints, Pax Britannica, General Agreement On Tariffs And Trade
22 Oct 2018
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Document Summary
Views an effective cession of economic sovereignty to int. insts. As the more attractive, but most difficult outcome. Grip on power wades, empires rise and fall. The public good of harmony is provided through int. insts. Non-tariff barriers: demonstrating bhagwati"s law of constant protection: fair trade provisions see increased use, national security exceptions, anti-dumping measures etc. creative measures to achieve protection. Extra-legal mechanisms: voluntary export restraints, us and japan, us says japan exporting too many cars and not importing as many, requests they voluntarily restrain their exports, threaten with anti- dumping or other means. Japan will agree because it can benefit from some of that optimal tariff type arrangement. Requires complaint, not going to file when its voluntary. Disgruntled, see trade partners are exploiting, come up with this which makes us police in gatt matters, us gov decides on violations and retaliates.
