POLS 1090 Lecture Notes - Lecture 3: Foreign Exchange Market, Canadian Dollar, International Monetary Fund

• School: York University
• Department: Political Science
• Course: POLS 1090
• Professor: Jay Goulding

Document Summary

Washington consensus us led project in the 1990s emphasized the value and importance of capital mobility elimination of tariffs on trade free trade agreement. North american free trade agreement (nafta) (1992,1994) (example of regional trade agreement) Global trade agreement, which was supported by the development of the world trade organization, this came to be established in 1995. This organization removed tariffs on trade globally for member countries. Non-tariff barrier (neoliberal understanding of trade) comes out of a free market understanding of economics/markets. All this (cid:862)artifi(cid:272)iall(cid:455)(cid:863) restri(cid:272)t (cid:373)arkets: lo(cid:272)al pro(cid:272)ure(cid:373)e(cid:374)t poli(cid:272)ies, (cid:271)oost lo(cid:272)al produ(cid:272)tio(cid:374) through. Su(cid:271)sidizi(cid:374)g lo(cid:272)al produ(cid:272)ers, a(cid:271)a(cid:374)do(cid:374)(cid:373)e(cid:374)t of food su(cid:271)sidizes. ((cid:272)a(cid:374)"t have this i(cid:374) a free (cid:373)arket, must be taken away) Washington consensus: particular understanding of how global trade and investment. The u. s wants all countries in the world to eliminate local producers subsides and trading tariffs, so that a free market can function efficiently.