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
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