IGS 10a Lecture Notes - Lecture 4: International Trade Organization, Uruguay Round, Corn Syrup
9 Sep 2016
School
Department
Course
Professor
Document Summary
Wto established in 1995 with 104 founding members. Its 164 members now account for >90% of world trade. Started with developed countries, more and more developing joining. Nonmembers now relatively less significant in global trade. Freer, fairer, and more transparent trade to increase trade, access, and benefit. Countries might ban certain products, tax, set limits, etc get countries to interfere less. What the wto does: provide a forum for negotiations. New trade agreements negotiated in rounds on principle of reciprocity. To be a member, don"t have to be open to trade, just have to be willing to talk: administer\implement trade agreements. Reports on policies of all members and provides technical assistance for ldcs. Highlights areas where governments still interfering a lot. Recommendations, guidelines, suggestions for countries: resolve disputes. Interprets promises states have made and judges whether they have been broken. Not left to power politics where possibility of sanctions and more.
