POLB90H3 Lecture Notes - Lecture 4: Stagflation, General Agreement On Tariffs And Trade, Foreign Corporation
Document Summary
World of capital-socialist people, they wanted to hide intellectual property rights for production: to gain access to the technology, there was an invitation to foreign corporations. Inefficient in relation to foreign markets: continued reliance on primaryexport(s) Sell more exports in order to gain more imports and make a profit. If global market falls, you produce more and more and cannot export for profit. Problems 5: countries were deprived and that there werea massive effort of reinvestment to catch up. The turbulent 1970"s: arab producing oil countries refused to supply oil because the us had assisted the. Israelian countries: stagflation = inflation and unemployment occur simultaneously.
