International Business Administration SIB600 Lecture Notes - Lecture 1: General Agreement On Tariffs And Trade, Bretton Woods System, Uruguay Round
16 Apr 2016
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The bretton woods system: post world war ii economic system to boost world trade, trade = prosperity=peace, u. s. & u. k. initiative. The 3 pillars of the world trading system. Imf (economic stability: world bank (economic development, gatt/wto (rules) The international monetary fund (imf: provides short term loans to countries experiencing. Interest charged: conditions set, votes based on contribution, u. s. 17% The world bank: provides long term loans to countries to develop their. 20-40 year re-payment: low interest charges, conditions set (in conjunction with imf, votes based on contribution, u. s. 17% The general agreement on tariffs and trade (gatt: rules but no enforcement, u. s. would not allow creation of ito , too powerful, continued on for 50 years. The uruguay round (the 8th and final round of gatt) 9/86 punta del este, uruguay: scheduled to conclude 12/90. 1/ establish rules for controlling new protectionism (vera"s . 4/ improve dispute settlement mechanism (timeliness/enforcement: talks fail 12/90, u. s. e. u.
