MGCR 382 Chapter Notes - Chapter 10: Maastricht Treaty, Transact, Euro Convergence Criteria

• School: McGill University
• Department: Management Core
• Course: MGCR 382
• Professor: Nicholas Matziorinis

Document Summary

Mgcr382 chapter 10 notes: international cooperation among nations. When a country adopts restrictions on international commerce, it can benefit at least some of its producers and workers. But other countries may retaliate with similar restrictions. As restrictions proliferate, international trading opportunities decline, and all countries end up losing. The general agreements on tariffs and trade and the world trade organization. General agreement on tariffs and trade the signatories to the gatt fought to reduce barriers to international trade. The gatt provided a forum for trade ministers to discuss policies and problems of common concern replaced by the. Promote a free and competitive international trading environment benefiting efficient producers, an objective supported by many mncs. Accomplished this by sponsoring multilateral negotiations to reduce tariffs, quotas, and other nontariff barriers. First focused on reducing the general level of tariff protection sponsored eight rounds of negotiations; cumulative effect was a substantial reduction in tariffs (fell from an average of 40% to 3%)