PSCI 2223 Lecture Notes - Lecture 16: Helsinki Headline Goal, World Trade Organization, Currency Union
2 Mar 2017
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Document Summary
Global institutions : world trade organization (wto), international monetary fund (imf), world bank. Rules for member countries and a separate set of rules for non-member countries. France, germany, britain, the u. s. , and japan have the largest stock in the world bank. The role of the imf is to provide financial stability to impoverished countries, and to distribute loans to those countries. Wto : replaced gatt (1947), promotes stable economic order and smooth international trade, formal decision making powers over trade disputes. Partial trade : free trade in select industries. Free trade area : no internal tariff imposed. Customs union : common external union tariff imposed. Nafta : north american free trade agreement, north american integration has an interest in purely economic issues and there are no constituencies for political integration, 1994, u. s. , canada fta, nafta (u. s. , canada, and mexico. ) Eu : the european union is an economic union, 1957 treaties of rome, monetary union.
