PO102 Study Guide - Comprehensive Final Exam Guide - Canada, United Nations, International Law
Document Summary
Each country should be treated differently based on: special needs, circumstances, and level of development. Comparative advantage is a way of rationalizing (even locking-in) the existing international division of labour (at disadvantage if primary products are worth less eg bananas vs cars) Why govts protect their producers and restrict trade. Levels the playing field when other country has unfair advantage. According to 2015 report by global trade alert. Governments imposed 539 trade distortions in the first ten months of 2015 - g20 responsible for 443. G20 tariff increases were down 21% but ntbs (like subsidies) were up 47% Trade distortions by the g20 are up 40% compared to 2014. Tariffs: a tax on goods that are imported, making them more expensive than what is produced domestically. Non-tariff barriers: anything that isn"t a tariff but limits or constrains trade (eg quotas, Government procurement (buying) policies favours canadian good or service. Eu says not sure, canada and us say yes.
