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Outcomes of Globalisation: Trade for All
 

Outcomes of Globalisation: Trade for All

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A wide-ranging presentation assessing the impacts of trade liberalisation on national economies and the international trend towards greater trade in services.

A wide-ranging presentation assessing the impacts of trade liberalisation on national economies and the international trend towards greater trade in services.

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  • http://www.wto.org/english/res_e/statis_e/its2010_e/its10_charts_e.htm
  • This system international monetary cooperation was for the first time attempted on a permanent and institutional basis. The system respects the principle of national sovereignty while committing members to collective responsibility. It provides a mechanism for inter-governmental consultation.
  • This system international monetary cooperation was for the first time attempted on a permanent and institutional basis. The system respects the principle of national sovereignty while committing members to collective responsibility. It provides a mechanism for inter-governmental consultation.
  • This system international monetary cooperation was for the first time attempted on a permanent and institutional basis. The system respects the principle of national sovereignty while committing members to collective responsibility. It provides a mechanism for inter-governmental consultation.
  • This system international monetary cooperation was for the first time attempted on a permanent and institutional basis. The system respects the principle of national sovereignty while committing members to collective responsibility. It provides a mechanism for inter-governmental consultation.
  • 1817 book, On the Principles of Political Economy and Taxation, David Ricardo used the example of Portugal and England's trading of wine and cloth to illustrate the benefits of specialization and trade. His writing served as the basis for the principle of comparative advantage
  • 1817 book, On the Principles of Political Economy and Taxation, David Ricardo used the example of Portugal and England's trading of wine and cloth to illustrate the benefits of specialization and trade. His writing served as the basis for the principle of comparative advantage
  • The Stolper-Samuelson theorem states that an increase in the relative price of one of the two goods raises the real return of the factor used intensively in producing that good and lowers the real return of the other factor.
  • 3 main assumptions1. Beneficiaries of a change will try to continue and accelerate it, victims will endeavour to retard or stop it.2. Those who enjoy a sudden increase in income will thereby be enabled to expand their political influence as well.3. As the means for a particular political preference increase, the likelihood grows that political entrepreneurs will devise mechanisms that can surmount the obstacles to collective action.
  • Source: Rogowski:Commerce and Coalitions – How Trade Affects Domestic Political Alignments
  • Reallocation of resources assumes no barriers to firm exit (irreversibility of investment).
  • The critiques of the macro work by influential economists (above) combined with the new theoretical insights into micro mechanisms propelled empirical trade research away from macro studies and towards more sector, industry, and plant-level studies that investigate the effects of trade policy at a more micro-economic level of analysis. In other words, while the macro level research focused on a general ‘reduced form’ relationship between openness and growth, leaving the underlying mechanisms somewhat (or completely) vague, these micro studies specifically search for ‘smoking gun’ evidence of the actual mechanisms through which openness affects firms’ decisions and outcomes (and thus, ultimately, aggregate growth).
  • Eliminated most of its non-tariff barriers and reduced tariff barriers from 100% (and more) to uniform 10% ad valorem.
  • The GATS was inspired by essentially the same objectives as its counterpart in merchandise trade, the General Agreement on Tariffs and Trade (GATT): All WTO member countries are also GATS members.All taken from: http://www.wto.org/english/tratop_e/serv_e/gatsqa_e.htm
  • Commitments on market access and national treatment    Individual countries’ commitments to open markets in specific sectors — and how open those markets will be — are the outcome of negotiations. The commitments appear in “schedules” that list the sectors being opened, the extent of market access being given in those sectors (e.g. whether there are any restrictions on foreign ownership), and any limitations on national treatment (whether some rights granted to local companies will not be granted to foreign companies). So, for example, if a government commits itself to allow foreign banks to operate in its domestic market, that is a market-access commitment. And if the government limits the number of licences it will issue, then that is a market-access limitation. If it also says foreign banks are only allowed one branch while domestic banks are allowed numerous branches, that is an exception to the national treatment principle.Transparency    GATS says governments must publish all relevant laws and regulations, and set up enquiry points within their bureaucracies. Foreign companies and governments can then use these inquiry points to obtain information about regulations in any service sector. And they have to notify the WTO of any changes in regulations that apply to the services that come under specific commitments.
  • Economic performanceDevelopmentConsumer savings Faster innovation Greater transparency and predictability Technology transfer
  • STOP the GATS attack image from http://www.citizen.org/trade/wto/gats/Tourism: http://www.equitabletourism.org/stage/tourism_details.php?AID=82
  • From http://www.citizen.org/trade/wto/gats/
  • From http://www.citizen.org/trade/wto/gats/

Outcomes of Globalisation: Trade for All Outcomes of Globalisation: Trade for All Presentation Transcript