PO329 Lecture Notes - Lecture 4: General Agreement On Tariffs And Trade, Multilateralism, Intergovernmental Organization
Document Summary
Principles: non-discrimination, reciprocity exchanging things with others for mutual benefit. Example: privileges granted by one country to another. Bretton woods post ww2: landmark system for monetary and exchange rate management in 1944 established at the un monetary and financial conference. General agreement on tariffs and trade: purpose (cid:449)as, (cid:862)the substantial reduction of tariffs and other trade barriers and the eli(cid:373)i(cid:374)atio(cid:374) of prefere(cid:374)(cid:272)es, o(cid:374) a re(cid:272)ipro(cid:272)al a(cid:374)d (cid:373)utuall(cid:455) ad(cid:448)a(cid:374)tageous (cid:271)asis(cid:863, series of negotiating rounds. Intergovernmental organization that regulates trade: formal brick and mortar institution, promotes peace and stability, regulatory entity, regulates: gatt, gat , trip , p et(cid:272) . The wto is a multilateral i(cid:374)stitutio(cid:374), esta(cid:271)lished o(cid:374) the (cid:271)asis of a (cid:862)si(cid:374)gle u(cid:374)dertaki(cid:374)g(cid:863) Nothing moves forward unless everything is agreed upon (consensus) The wto emerged from gatt but it still includes everything from gatt. Facilitate the implementation and operation of the multilateral trade agreements. Cooperate with the imf and world bank for coherence in economic policy-making.
