POL111H5 Study Guide - Final Guide: Nato, World Trade Organization, General Agreement On Tariffs And Trade
Document Summary
G has implications for the canadian economy, mostly on the closing of transnational corporations" manufacturing plants in the country especially ontario. This organization was established in 1995 as the successor to the gatt (the general agreement on tariffs and trade 1947) that stipulated rules concerning international commerce. International organization to which canada belongs, the wto can actually require its members to change their trading practices. For example, in response to american complaints, the wto ordered canada to discontinue a federal excise tax and postal subsidies to protect domestic magazines. The wto has thus become a huge impediment to the pursuit of canadian government policies in a wide range of sensitive fields. The international monetary fund (imf) 1944 designed to facilitate trade. Imf puts pressure on member countries based on the size of their national deficits, advising the canadian government in 1991 not to raise public servants" salaries and in 1999, to cut income taxes and the debt.
