01:790:358 Chapter Notes - Chapter 4: General Agreement On Tariffs And Trade, World Trade Organization
8 Jan 2019
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Document Summary
Chapter 4: bretton woods, gatt, and the wto: trade in a politicized world. In the fourth chapter of the globalization paradox the author explains how trade in a world where countries have their own national agenda can clash with trade policies. The general agreement on tariffs and trade (gatt) was a successful de facto organization which increased the volume of world trade and they used policies that didn"t necessary support globalization. The goal wasn"t free trade in all sectors, but only in the sectors that supported a national economies agenda. Sectors like agriculture and manufacturing, were limited for liberalization, and if a country wanted to they could use voluntary export restrictions, which kept exports open until they met a quota. Gatt was successful the growth of a national economies by allowing them to pursue their social and economic goals. The world trade organization (wto) was in many ways the opposite of gatt.
