Political Science 2211E Lecture Notes - Lecture 14: Investor, World Trade Organization, North American Free Trade Agreement
29 Jan 2018
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Non-tariff barriers: quotas, subsidies, buy american government procurement. 1947 general agreement on tariffs and trade (gatt) Slowly lowering tariffs through successive negotiating rounds. Many countries had tariffs and attracted branch plants. Set up factories to get around tariffs and sell to local market. Trade still guided by national policy of 1878: high tariffs and open investment policy. Firms moved to developing countries in response to stagflation and high wages, taxes and regulations. Debt crisis, imf and creation of export processing zones. Finalized the shift from protectionism to free trade. Intellectual property rights copyrights, patents and trademarks in australia example: trips, trade related intellectual property rights. Investor property rights: prevent nationalization, foreign investor protection agreements (fipas, allows firms to sue governments directly. Investor-to-state dispute settlement (isds: created wto, single undertaking, created permanent institutional structure, oversee negotiations, monitor compliance, dispute resolution court. Forces branch plants to get inside tariff wall. Countries make products and sell them to each other.
