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Trade Agreements During World War 2

Trade Agreements During World War 2
Ditambahkan pada : October 12th, 2021
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One of the motivations for these standards is the fear that unconditional trade could lead to a “race to the bottom” in terms of labour and environmental standards, given that multinationals are singing the globe in search of low wages and lax environmental rules in order to reduce costs. Yet there is no empirical evidence of such a breed. In fact, trade usually involves the transfer of technology to developing countries, which makes it possible to increase wage rates, as the Korean economy – among many others – has shown since the 1960s. In addition, increased revenues are allowing cleaner production technologies to become affordable. For example, replacing scooters produced in India with scooters imported from Japan to India would improve air quality in India. The determination of the United States to spread “free” market capitalism is reflected in the economic agreements and multilateral economic treaties concluded by the United States during the last decade of the twentieth century. After World War II, Washington sought cooperative ways to rebuild the global economy and create a more coherent institutional framework within which the United States could make the most of its economic strength. This restructuring should be based on the law of comparative advantage and free trade. [22] Survey data are available under Like the Kennedy Round, the Tokyo Round significantly reduced tariffs: the nine major industrialized countries reduced their tariffs by a third, reducing their tariffs to an average of 4.7%. More importantly, for the first time, the Tokyo Round addressed non-tariff barriers. In the early years of GATT, high tariffs were the most important instrument used by governments to limit trade. However, by the end of the Kennedy Round, tariffs had been significantly reduced and non-tariff measures were becoming more visible and frequent.

Critics have argued that NAFTA has only a limited connection to free trade. They pointed out that one of the main objectives of the United States was to increase the protection of “intellectual property,” including software, patents for seeds and medicines, etc. .

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