POLS 1160 Lecture Notes - Lecture 14: Customs Union, Doha Development Round, Preformationism
16 Mar 2017
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Document Summary
Global economic activity: 4 issue areas: 1. international trade system, 2. international monetary system, most places accept usd, 3. Economic development: each issue area= deeply connected to others, central characteristics distinctly different which allows for people to study each in isolation from others. Bretton woods system: guiding belief: great depression helped cause wwii, when everyone is doing well economically there is less chance of fighting. Effects of global trade: transborder marketing of brand name products, nike, apple, etc, partial discouragement of protectionism, e-commerce. World trade order (wto: free market relies on political structures, international economy is no different, political structure for free trade. Internationalization has been brought about by government have made about rules and institutions that govern world trade. Market liberalism: asserts liberal international trade system, raise world"s standard of living, every country has higher standards of living with trade than though it, gains from trade= greatest when goods can flow freely across national borders, 2.
