free trade in the real world controversy over globalization
TRANSCRIPT
Free Trade in the real World
Controversy over Globalization
Free Market/Capitalism
Free Trade/Globalization
Globalization: why now?
1)Fall of Soviet Union• World embraces free market economic system
2) Rise of Technology• Allows jobs to be easily & cheaply moved around world
Collapse of Communism (1990)
World movement towards Capitalism
Free Trade requires a set of “rules”
Road to Globalization
WTO becomes Global Referee
WTO HISTORY
Created 1995 (replaced GATT)
146 Members - incl. ~ 100 Developing Countries
WTO Functions
Administering WTO trade agreementsForum for trade negotiationsHandling trade disputesMonitoring national trade policiesTechnical assistance & training for Developing Countries
1999 Seattle protest against the WTO
Test Review
• Sample Multiple Choice Questions
• Sample Free Response Questions
Brazil Mexico