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To What Extent Does Globalization Contribute to Sustainable

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Hannah Sparrowhawk

on 30 May 2016

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Transcript of To What Extent Does Globalization Contribute to Sustainable

G.A.T.T.
Goals
Create less trade barriers
Leading to more trade
Increasing income.
Fair trade with other countries
Increase resources
Effect
Positives
Raise in incomes due to less trade barriers
Stimulating economy growth
Promote peace with outer countries
Background
At Bretton Woods, there was numerous countries that agreed to work together to create trade rules.
Leading to G.A.T.T. (signed in 1947)
Purpose
GATT's purpose was to slowly eliminate tariffs and other trade barriers
Tariffs: a tax put on imported goods and services
Allow easier trade
To What Extent Does Globalization Contribute to Sustainable Prosperity for All People?
The General Agreement on Tariffs and Trade
WTO
The World Trade Organization
Background
Purpose
Goals
Effect
Positives
The WTO was establish in 1995
The WTO was born out of the General Agreement on Tariffs and Trade (GATT)
The GATT have helped to create a strong and prosperous international trading system. (WTO)
The WTO's purpose is to regulate trade in telecommunications, banking and goods
multilateral agreement on intellectual property: copyright and related rights
Building trade capacity
Free trade increases global economic growth
lowers prices for consume
Negatives
Decisions of the organization are dominated by larger economies who have more voting power
Unequal benefits awarded to DC's and LDC's
Increase international trade
The WTO ensures that the terms of trade are followed
Trade disputes between countries become resolved
WTO keeps trade settled and smooth flowing
Expands globalization by lowering trade barriers
Increasing trade
Economic growth
Negatives
Trade domination
(1980s), the nature of world trade had changed. Financial services became more globalized, and foreign direct investment was more important. GATT did not address any services.
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