trade and globalization key terms “economic liberalism” favoring free flow of trade and...

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  • Trade and Globalization

  • key termseconomic liberalismfavoring free flow of trade and investmentmercantilism or protectionismprotecting domestic industries with subsidies, tariffs, and non-tariff barriers

  • comparative advantagespecializing and trading benefits all?

  • Liberal International Economic OrderGATTBretton Woods institution for the reduction of tariffsWTOreplaces GATT in 1995expanded and given teeth--authorizes retaliation

  • Regional Trade AgreementsNAFTAEUAPECtowards liberalized world trade, or trading blocks?

  • The future of international tradeincreasing protectionism with declining US hegemony?

  • GlobalizationInterconnection with the world

  • sources of globalizationliberal trade/pro export policycommunications technologyTV, computer/internet, phonetransportair travel, containerizationimmigration

  • ImmigrationThe US--post 1965end of nation quotas, more chain migrationEurope in the 60sguest-workers and former coloniesanti-immigrant parties

  • Cultural Homogeneity?

  • Global Village or Global Pillage?WTO may determine that environmental, health, labor standards are really NTBsexamples of dolphin-safe tuna and turtle-safe shrimpTariffs reduced more on poor countries small producers than rich countries large agricultural producersBut poor countries winning at WTO against US cotton

    Measured in constant dollars?Internet use

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