1. Discuss the background issues leading to the GATT negotiations immediately following WWII.
Why did the Soviet Union and its allies not participate, and why did the US not ratify the initial
agreement? Why was trade in agricultural products and services not included? Go on to discuss
the dual principles of “free” and “fair” trade, and the success at implementing these goals
through the first six “Rounds”.
2. In the first fifteen years there were six GATT rounds. In the last half-century there have been
three additional rounds of GATT/WTO negotiations. Discuss the achievements and failures of
each of these rounds, and summarize.
3. The relationship between the less-developed-countries (LDC’s) and the developed countries
(DC’s) in the evolution of international trade has always been a bit strained. Discuss this
relationship, including policies adopted and/or advocated by each group to “help” the LDC’s.
How successful have these policies and/or advice been?
4. What is meant by an “effective” rate of tariff and give an example of how this works. Given that
expansion of multinational companies has been rapid in the last half-century, discuss the
impact(s) that this has made on effective tariff rates and therefore, trade. How could a tariff on
an “intermediate” good in production be self-defeating?
5. Given the problems facing any further liberalization of trade at the global (WTO) level,
“regional” partnerships, such as the pending “TransPacificPartnership” have become
increasingly popular, especially since they are allowed within WTO rules. Explain the standard
economic methodology typically applied to evaluate gains and losses from such a partnership
(i.e. “trade creation vs. trade diversion”) and go on to discuss the evolution of the world’s most
developed customs union, the EU, including the arguments for its original creation and later
extension to a single currency (the Euro). Evaluate its success.
Place this order with us and get 18% discount now! to earn your discount enter this code: special18 If you need assistance chat with us now by clicking the live chat button.