Chapter 7.4

The ____________________________________ is working to develop common international rules for intellectual property rights

Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS)

After WWII, the U.S. and other nations realized the value of ________________________________

Freer trade

Objective of the _______________________________________ is to liberalize trade by eliminating tariffs, subsidies, and import quotas.

General Agreement on Tariffs and Trade (GATT)

_________________________________ - multilateral agreement established in 1948 under U.S. leadership.

General Agreement on Tariffs and Trade (GATT)

__________________________________ had nineteen original members and grew to more than 120 nations.

General Agreement on Tariffs and Trade (GATT)

_______________________________________ used "rounds of talks" to gradually reduce trade barriers.

General Agreement on Tariffs and Trade (GATT)

The ____________________________________ is working to extend free trade agreements to services

General Agreement on Trade in Services (GATS)

_____________________________ argues that countries that attempt to use suchbeggar-thy-neighbor policies will probably provoke retaliation

Paul Krugman

________________________________ argues that since special interest groups can influence governments, strategic trade policy is almost certain to be captured by such groups who will distort it to their own ends

Paul Krugman

___________________________________ argues that strategic trade policies aimed at establishing domestic firms in a dominant position in a global industry are beggar-thy-neighbor policies that boost national income at the expense of other countries

Paul Krugman

Until the Great Depression of the 1930s, most countries had some degree of _______________________________

Protectionism

Due to the emergence of __________________________________ tends the use of non-tariff barriers increased

Protectionist

Japan's perceived ____________________________ (neo-mercantilist) policies created intense political pressures in other countries

Protectionist

The emergence of __________________________________ tends caused persistent trade deficits by the U.S

Protectionist

In the 1980s and early 1990s _________________________________ emerged

Protectionist trends

_____________________________________ going beyond manufactured goods to address trade issues related to services and intellectual property, and agriculture

Services and intellectual property

The Uruguay Round of GATT negotiations began in 1986 focusing on ________________________________________

Services and intellectual property and The World Trade Organization

The WTO encompassed GATT along with sisters organizations. What are they?

The General Agreement on Trade in Services (GATS) and the Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS)

It was hoped that enforcement mechanisms would make ____________________________ a more effective policeman of the global trade rules

The World Trade Organization (WTO)

Mutual tariff reductions negotiated. Dispute resolution only if complaints were received.

Uruguay Round GATT 1986-93