Flashcards
International Division of Labour and Trade
Cards in this deck (21)
- 1Forms of protectionismTariffs, Quotas, Technical regulations, subsidies ....
- 2Cost of protectionismReduces overall welfare. Unfair for other countries (destroying comparative advantage)
- 3WTO 1. Goals: 2. Pillars:Multilateral agreements are made.
1. Open markets, support free trade
2.1. GATT: Traded goods
2.2. GATS: Traded services
2.3. TRIPS: Intellectual property - 4IMF 1. Goals 2. Cost1. Support members in financial crisis
2.Contribution rate being paid
Kind of an insurance-cost - 5World Bank Goals:1. Grants credits to development projects, 2. increase development,
3. enable private investments in development - 6OECD Goals:1. Increase free trade
2. Help development
3. create studies and recommendations - 7Trade liberalisationMeasures to encourage free trade, removal of tariffs and other trade barriers
- 8Forms of trade liberalisation1. Multilateral (All countries)
2. Regional (geographically close countries)
3. Bilateral (between two countries) - 9Domestic TreatmentWTO principle, whereby domestic products can not be granted regulatory preference to products from other WTO member states.
- 10Most Favoured NationPrinciple of the WTO, whereby the removal of a trade barrier in a member state is followed by the removal for all other WTO member states.
- 11Integration: Free Trade AreaNo Tariffs between members
- 12Integration: Costums UnionNo tariffs, common import tariffs
- 13Integration: Common marketNo tariffs, common import tariffs, mobility of production factors
- 14Integration: Currency unionNo tariffs, common import tariffs, mobility of production factors, common currency
- 15Integration: Complete economic unionNo Tariffs, common import tariffs, common currency, mobility of production factors, common economic policy
- 16The four freedomsFree trade of: Goods, services labour and capital
- 17Pillars of the EU1. European Community, economic treaty
2. Common foreign and security policy
3. Justice and police cooperation - 18Pillars of the swiss trade policy1. Support market entry abroad (exports)
2. Support of entry in swiss market (import)
3. Supporting countries in integrate in world economy - 19development aid advantage:Helping the poorest, building infrastructure, advancement of women
- 20development aid disadvantages:is needed where it doesn't work, people get dependent, failure of politics, not creating jobs
IT ONLY WORKS WITH A GOOD GOVERNMENT! - 21Micro LoanGiving a credit to the poorest, they start a business, pay 35% interest rate, start to develop firms. --> CREATING JOBS!
Information
- Description
- Most important facts about globalisation
- Created by
- Misch Heerr
- Views
- 56
- Tags
- Rating