GEB 1101 Lecture Notes - Lecture 10: Mercosur, Foreign Exchange Market, Protectionism
Document Summary
Helps unions and local farmers for keeping prices low and competition low. Reduced competition leads to higher prices and shifts investment to other markets. Subsidies, quotas, local content requirements, admin policies, fdi restrictions, countervailing duties. Limits on the amount of goods that can be imported into a nation during a specified time period. Imposed on goods imported into the country to neutralize the effects of the exporting country"s subsidies. Universal standard global system to label each product coming into the country. Integration of trade among different countries in a geographic region to reduce trade barriers and promote the free flow of goods services and factors of production between one another. Removes all barriers to the trade of goods and services among member countries. Includes a central political system that manages the social, economics and foreign policy of its member states. Eradicates trade barriers between member countries and implements a common external trading policy.
