PO102 Lecture Notes - Lecture 3: Bretton Woods System, Maple Syrup, International Political Economy

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13 Jun 2018
School
Course
Global Political Economy
Lecture will be on trade, on own study history of economic system from 1930’s onward
Terms to study:
Marshall plan
Bretton woods system
GATT, ITO, WTO
Protectionism
NIEO, G-77
Dependency theory
Brandt report
Washington consensus
G20
Transborder production
TRADE
What we sell to other provinces and to the world (exports)
What we buy from other provinces and from the world (imports)
Goods and Services
Goods: wheat, coffee etc, electronics, cars, clothing, prepared food, natural resources
Services: health, financial (accountancy, insurance), advertising, tourism, education,
construction
Canadian Exports
Canola oil, maple syrup, asbestos, wheat, canada goose, vehicles, oil
Europeans are known for high value exports (which is where you want to be, eg electrical,
optical, manufacturing)
Israel is biggest drone exporting country, biggest drone importing country is United Kingdom
Why has trade been so important historically?
A source of wealth thru import and export duties - trade has never been free, govts have
always used trade as way to bring in money → traditionally tax exports and imports
We want goods we can’t produce - for reasonable price - at home
It appears to have brought other benefits (positive effects)
Positive Effects
The range of consumer choices is so widened (choice and quality)
Helps the spread of technology
Creates jobs
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Document Summary

Lecture will be on trade, on own study history of economic system from 1930"s onward. What we sell to other provinces and to the world (exports) What we buy from other provinces and from the world (imports) Goods: wheat, coffee etc, electronics, cars, clothing, prepared food, natural resources. Services: health, financial (accountancy, insurance), advertising, tourism, education, construction. Canola oil, maple syrup, asbestos, wheat, canada goose, vehicles, oil. Europeans are known for high value exports (which is where you want to be, eg electrical, optical, manufacturing) Israel is biggest drone exporting country, biggest drone importing country is united kingdom. A source of wealth thru import and export duties - trade has never been free, govts have always used trade as way to bring in money traditionally tax exports and imports. We want goods we can"t produce - for reasonable price - at home. It appears to have brought other benefits (positive effects)

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