GMS 693 Study Guide - Final Guide: Most Favoured Nation, General Agreement On Tariffs And Trade, Dispute Settlement Body

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 693
• Professor: Michael Manjuris

Document Summary

To identify the major challenges of the world trade organization. To discuss the pros and cons of global, bilateral, and regional integration. To describe the static and dynamic impact of trade agreements on trade and investment flows. To define different forms of regional economic integration. To describe other forms of global cooperation such as the united nations and the organization of the petroleum exporting countries (opec) Biltareial integration: two countries cooperate closely, usually in the form of tariff reductions. Regional integration: group of countries located in the same geographic proximity decide to cooperate: ex. Global integration: countries worldwide cooperate through the wto. General agreement on tariffs and trade (gatt): predecessor of the wto. Most favored nation: countries with this status are often given specific trade advantages such as reduced tariffs on imported good. Dispute settlement: the wto"s procedure for resolving trade quarrels under the dispute. Regional trade agreements: integration confined to a region and involving more than two countries.