404 midterm

Haiti

-dictatorship to democracy: 1986 -consitituion: 1994 -legacy: weak governance, economic inequality and social unrest -endemic corruption -30 political parties pre elections historical roots of embargo: haitian revolution industrial planning: fruits, tourism, garments, infrastructure, finance, info tech., and education) productivity issues(little investment in private enterprise and social capital- education, health, infrastructure) agriculture 70% of employment, 30% of GDP/rice sugar coffee large trade deficits: buy food, oil and manufactured goods rely on remittances, foreign ad, and grants: dependent poor diversification, over dependent: product and markets... NEED FDI! HOPE(2006) haitian hemispheric opportunity through partnership encouragement act highest income inequalitys in americas

Non-Tariff Barriers

-non-trarrif barriers: restrict by other means def: restrict trade by some means other than applying a tax on import or export of products. these barriers might take the following forms( cumbersome and/or expensive customs procedures, exchange rates, Infrastructure Related to Transport , Technical Barriers to Trade, Trade Preference Programs, & more) -exchange rates: strong dollar vs. weak dollar EXAMPLPE below [when the dollar grows stronger against another currency, it means people holding dollars get more of the other currency for each of their dollars(e.g. a stronger dollar would get more euros per dollar) -when the dollar is weaker against another currency, it means people holding dollars get less of the other currency for each of their dollars(e.g. a weaker dollar would get less euros per dollar) - a strong dollar helps americans traveling abroad or buying important bc it makes foreign hotels and goods less expensive. a strong dollar HURTS americans selling exports to shoppers in other countries, bc it makes the US goods more expensive - a weak dollar hurts americans who travel abroad or buy important bc it makes foreign hotels & goods more expensive. a weak dollar HELPS americans producing and selling exports to shopping in other countries, bc the US goods are then cheaper to foreigners] -quotas: restrict quantity, added costs -subsidies: government subsidy is a reverse tax; it is a payment from a government to a business to defray business costs. subsidized products may be sold in international markets at prices below the normal cost of production -exchange rates: determine the ratio at which one currency can be traded for another -VERs: voluntary export restraint: self-imposed limit on the amount of product that one country can export to another country, also know as export tariff restrain agreement -safeguard measures: temporary actions to protect a domestic industry from fast and sudden rise of imports. •Can be imposed on specific products (ie. apparel) -•Technical Barriers to Trade (TBT): include regulations, standards, testing, and certification procedures that can obstruct trade.•Vary greatly - Can include protection for health, safety, and environment -Production Subsidies: An unfair form of competition, in which a government makes a gift of money to firms to defray costs of production.•Sustain domestic industry without increasing prices -Price Support Programs: An unfair form of competition, which involves government purchasing and storing products from the market to reduce the supply relative to the demand and drive up the price. •Mostly applied to agricultural products.•IE. Government pays a farmer to produce less.•Unfair Competition - Dumping: Selling a product in another country at less type of barrier? 1. A tax of 15% makes jewelry from Mexico more expensive than jewelry made in the United States.= exchange rate •2. Korea may export only 15,000 automobiles a year to the United States.=VER •3. The rungs on the ladder of any bulldozer sold in Germany must be 12 inches apart, but US manufacturers generally make the rungs 15 inches apart.= TECHNICAL BARRIERS OF TRADE •4. A new textile firm asks its government to provide financial assistance to make it possible to sell its products overseas at a lower price that will compete well in other countries.- dumping? price support programs

Country Comparison

-often based on economic development -GDP/GNP/GNI: total sales output, production -when GDP is up, more output, more employed, more income: a general indication what we are able to buy -limitations: ultimate use of that production?- deterioration-distribution in the population GNI per capita as a measure of standard of living -well being(definition) -consumption(definition) - living: consumption + comfort, job security, safety... - working conditions, freedom of movement, financial well-being, environmental and political atmosphere -level=actual(definiton) -standard= desired; varies with culture, age, gender...(definition)

US Industrialization - Historic Shifts

-reduce dependence on England -Industry developed through tariffs( characteristic 1- under threat of competition, industry is protected) -milestones: cotton gin and war of 1812 -tariffs and embargoes tariff: DEFINTION -Eleuthere du Pont: Lobby Congress for industry protection •National security •Overseas threat •Characteristic 3: Job loss to technology/Increased productivity historic shifts in the US textile industry... 1) migration from farms to factory town... transformation of new England from rural to urban and industrial(characteristic 4: migration from rural to urban) 2)wide scale employment of women outside the home...(characteristic 5: employment of women outside the home) 3) Industrial reform... production demands lead to revolts, 1824 first womens union, 1836 factory girls association, city wide strikes/ triangle fire(1911), womens right movement(19th amendment: 1920) (characteristic 6: poor conditions, workers revolt, labor reform)

Protectionism (Tariffs)

-using trade barriers to minimize imports -prevents competition -costs: to consumers, monitoring -tariff: tax on imported or exported good that increases the cost of the good, increasing the selling price in the importing country -Non-tariff Barriers: restrict by other means

Characteristics of Textile Industrialization

1. Under threat of competition, industry is protected. 2. Increase in production speed/technology to meet demand• 3. Job loss to technology/Increased productivity• 4. Migration from rural to urban• 5. Employment of women outside the home• 6. Poor conditions, workers revolt, labor reform

CRAAP Assessment

C: currency- the timeliness of information(when was the information published or posted? has the information been revised or updated? is the information current or out of date? are the links functional? R: relevance- the importance of the information for your needs(does the info relate to your topic or answer your question? who is the intended audience? is the information at an appropriate level? have you looked at a variety of sources) A: authority- the source of the information(who is the author/publisher/source/ sponsor? are the authors credentials or organizational affiliations given, and what are they? what are the authors qualifications?) A: accuracy- the reliability, truthfulness & correctness of the content (where does the information come from? is it supported by evidence? has it been reviewed? can you verify any of the information in another source? does the language seem unbiased? p: purpose- the reason the information exists( what is the purpose of the information? do the authors sponsors make their intentions clear? is this information fact/opinion/ propaganda? is it objective, impartial & unbiased?)

Consumption + Expenditure

Consumption: commodities (goods and services), their uses, and services consumed by an individual or a family -when income increases, consumption INCREASES -how do we increase consumption expenditure?(spending for fixed+ discretionary purchases) -engels law: as income rises, the proportion of income spent on food falls... Engel's law: the poorer a family is, the greater percentage to total expenditure is on food. (larger percentage of income is spent on survival).expenditure is on food. (larger percentage of income is spent on survival).••Food should be 1/3 or less of expenditure (your percentage) (minimum Food should be 1/3 or less of expenditure (your percentage) (minimum wage?) -Inflation of prices effects consumption. -clothing is a discretionary purchase... mildly elastic at 1.2 elasticity. -level of consumption: the quantity and quality of goods and services that are available to be used by an individual or group during a given period of time -Consumption expenditure: money used to support the level of consumption during a specified period -interpreting the well-being of families -expenditure patterns in the us- consumer price index: measure of the impact of inflation on consumer purchasing power in the US, inflation other factors affecting consumption expenditure patterns: progressive tax( increase in tax as income rises), regressive tax(requires lower-income people to pay higher rates than higher-income people

(GDP/GNP/GNI) aka defining development gross domestic product, gross national product, gross national income

D=domestic, within the country, consumption + investment + (government spending) + (exports − imports)excludes profits of overseas activities./ N=national, by residents of a nation ((+) total capital gains from overseas investment (-) income earned by foreign nationals domestically)/Two don't vary much for U.S./Per capita

chapter 2

Elastic demand: demand for a product changes with the change in the product price o demand increases as the product price goes down o demand decreases as the product price goes up income elasticity: the relationship between change in income and resulting change in expenditure o income elasticity of demand = % change in expenditures / % change in income o elasticity is greater than (>) #1 o inelasticity is less than (<) #1 o superior goods: elasticity greater than 1 o normal goods: elasticity is between 0 and 1 o inferior goods: elasticity less than 0 price elasticity: demand for a product does not change correspondingly with the product price o if price goes up, demand for the product does not decrease substantially o example: gasoline Consumer Price Index (CPI): used to measure the impact of inflation on consumer well-being considering purchasing power. Monthly research is conducted to show how CPI provides continuous flow of data on the buying habits of U.S. consumers.

GATT

GATT (General Agreement on Tariffs and Trade: An international framework to establish the ground rules for worldwide trade and promote the reduction of trade barriers. -trade without discrimination: MFN(most favored nation:A principle meaning all countries part of WTO (formerly GATT) have to be treated the same and no country can have preferential trade arrangements) -protection through tariffs -stable basis for trade, rules orderly -consultation and settlement differences -waiver- can depart from rules -quotas prohibited -regional arrangements GATT VS. WTO GATT: set of rules; a multilateral agreement -applied on a provisional basis -rules applied to trade in goods -rules selectively applied -disputes slow to settle, and settlement difficult to implement -system dependent on GATT 1947 until 1994 WTO: a permanent institution with its own secretariat -commitments are full and permanent -covers trade in goods, services, and issues related to intellectual property -commitment of the entire membership -settlement system is faster, more automatic, swift to implement -GATT 1994 is foundation of the merchandise trade system -trend toward trade liberalization! -EXCEPT for labor-intensive exports from third world!(see developed supporting trade liberalization among each other, but not so much happening with developing to developed trade)... developing using import substitution, guarding industries, and developed not restraints of textiles and apparel and agriculture textile and apparel exemption under GATT -Short term arrangement: 1 year to straighten the cotton textile problem ('61-62)•Long term arrangement: 5 years to fix•Bilateral agreements, unilateral restraints•Limiting growth to 5% per year•Renewed twice! 1962-1974•Helps create shift to uncontrolled fibers, shifts in production areas

MFA

MFA (Multi Fiber Arrangement): An international trade agreement that allowed textile and apparel trade to be regulated through quotas established in bilateral agreements between nations. •An exception to GATT rules •Hurt GATT purpose of reducing barriers to trade •GATT allowed tariffs (to protect domestic), but MFA focused on quotas •Primary Effect of MFA: drove global apparel production despite limiting overall trade growth -violated 2 major GATT principles... 1) the most-favored nation principle... only multilateral agreements allowed under GATT- MFA relied on bilateral ... 2) GATT= only tariffs MFA: based on quotas multi-fiber arrangement -late 60s-70s: very political: nixon, strained Japanese relationships, EC exporting to US, feeling ok -limit wool, manufacturing fibers, yarn, clothing -Hong Kong, South Korea, Taiwan -MFA 1972 negotiations: group of 77: abolish tariffs and quotas on textile imports from developing countries by a fixed date! MFA l: 74-77 MFA ll: 77-81 MFA lll: 81-86 MFA IV: 86-91, extended twice: 1993 -countervailing duties: duties added to countries that subsidized industry (GATT illegal) -rules of origin: to prevent transshipment: had to have substantial transformation to qualify for a second country's quota... additional fibers: ramie, silk, flax -RELECTIONS: -big % of world trade exempted from GATT -discrimination of countries -quota allowed- used on developing, not developed -no compensation of exporters -market disruption -intent to be temporary for Developed to adjust to increased competition goal was to find the next undeveloped, low-labor-cost country where apparel production could be established and where no bilateral agreement was in effect

Defining + Measuring Development

Measure of economic wealth. The nation's economic production a year. The total market value of goods and services produced. measuring development Least Developed: High levels of extreme poverty(Cambodia, Bangladesh, Haiti, Zimbabwe, Pakistan) Developing: Fall near or below world average. (production)Russia, Chile, Mexico, China, India, Turkey/ Developed: GDP per capita and other measures of well being far well above the world average. (consumption) France, Italy, Germany, Japan, UK, US, Canada, Newly industrialized countries-NICS-Singapore, Taiwan, Hong Kong, South Korea (Tigers). Now: +5 and Indonesia, Malaysia, Philippines, Thailand, Turkey must consider each country's gross domestic product; the size of each country population; and the populations purchasing power parity the GDP per capita is GDP divided by the number of people in a country's population but only after GDP has been adjusted by purchasing power parity

U.S Textile and Apparel Trade

PICTURE 1950S(protected trade): entrepreneurism/protectionism... focus on textile: domestic production, protected trade... focus on apparel manufacturing: domestic production, protected trade... focus on retailing: domestic buying 1960s(short-term arrangement, long term arrangement): entrepreneurism... same as ^ but add domestic buying and moving toward international sourcing(focus on retailing) 1970s(MFA): protectionism.. add free trade to (focus on retailing) Item 807: a ruling that allowed garments cut in the US to be exported and assembled in Caribbean countries and then imported with tariff based only on value added 1980s(extended MFA): verticalization /internationalization... add protection with fabric-foward rules(textile)... moving toward internaion sourcing(apparel)... international sourcing & free trade(retail) US-CANADA FTA 1990s(ATC, beginning of MFA phaseout): horizontalization/ globalization... mostly domestic production, protection with yarn-and fabric- forward rules(textile)... free trade & international sourcing(apparel)... free trade, global sourcing, international marketing(retailing) NAFTA 2000s: post quota trade and sourcing... moving toward international production, protection with yarn and fabric forward rules(textile).. free trade, global sourcing and marketing, social responsibility(apparel)... free trade, global sourcing and marketing, social responsibility(retailing) NAFTA, CAFTA, FTAS with 6 other countries, AGOA 2010s: regionalization/ sustainability.... combination of domestic and international production, protection with yarn and fabric forward rules(textile)... free trade & fair trade, moving toward transnational sourcing and marketing, emerging pockets of domestic production(apparel manu)... free trade and fair trade, moving toward transnational sourcing and marketing, emerging pockets of domestic production(retailing)... NAFTA, CAFTA, FTAs with 12 other countries... AGOA day 12 slides

Collins Article

QUIZ: Q: Liz Claiborne was convinced to import apparel from overseas when: A: she saw the quality and detail of overseas product Q: What were Liz Claiborne's "first mover" benefits? A: overseas connections, learning and navigating the apparel quota system, innovating in organizational strategy, creating efficiencies that lowered costs (all of the above) Q: The Multi-Fiber Arrangement was created for: A: industrialized nations to protect domestic industries from low cost competition Q: The article proposed the Multi-Fiber Arrangement benefit this group the most: A: multinational firms able to source from multiple production sites Q: The article suggests Claiborne paid most attention to wage differences between production site options because: A: of the volume of product they produced, wages determined the quota available, minimum wages can change quickly in the developing world, so rates need negotiated (all of the above)

Schiff Article

QUIZ: Q: Regional integration agreements are always made between neighboring countries. A: FALSE Q: In response to less openness during the 1930's Depression, this principle was established for the trading system: A: Nondiscrimination Q: 1960's regionalism between developing countries was fueled by the idea that: A: Import substitution and protectionism were required for industrialization Q: Which of the following is not an objective in the creation of regional integration agreements? A: To gain military and political influence objectives... to obtain secure access to major markets, to not be a left out country excluded from the trend, to aid in neighboring country stability and prosperity Q: Regional integration agreements: A: are allowed by GATT/WTO as a deeper form of integration

Rivoli Article

Rivoli reading: British cotton growth: 50% of export earnings Growth of ancillary (support) industry : finance, insurance, textile machinery, retail trade (urban population) material review... •Industrial revolution as a precursor to economic growth •The force behind bottlenecks •Multiplier effects: Creation of infrastructure and ancillary industry. (rural to urban) •Women as "docile" •Movement of the industry: •England: New England: South: Japan: Hong Kong; Korea: Taiwan (NICs) QUIZ: Q: What does Rivoli mean when she refers to "a choking bottleneck in the production of cotton cloth [that] launched the modern world?" A: Spinning was more labor intensive than weaving, encouraging invention that would more quickly meet demand and lower costs. Q: In American cotton textile led production, we see production eventually move from New England to the South. Why? A: because wages were lower and because labor protections and regulations were weaker in the South Q: Why did Britian not want to share its textile technology during the industrial revolution? A: because Britain dominated the cotton export industry by buying cotton from poorer countries at that time and selling clothing to them Q: The economic development and industrialization of the American South began through A: Southern mills exporting low quality (heavy, coarse) cloth to China Q: The next global competitors after British and American export-led growth in cotton textiles were A: Japan, and then the Asian NICs

Capital + Labor Intensive Goods

The production of goods and services requires capital and workers. Some goods require more capital - technical equipment and machinery - and are called capital intensive. Examples of these goods are cars, computers, and cell phones. Other goods require less equipment to produce and rely mostly on the efforts of the workers. These goods are called labor intensive. Examples of these goods are shoes and textile products such as jeans.

Triangle Shirtwaist Factory Fire - Basic Informational Questions

What is the government's role in industry regulation?•Parallels to industry today/repeated characteristics of industrialization•"the gilded age: the age of conspicuous mass consumption"•How were workers treated? Why did they strike?•What was the capitalist/owners of production point of view?•What does it mean to have a union? Why such resistance? quiz questions What request from the Unions did the Triangle Factory refuse to give into? Answer: union recognition; becoming a "union shop" After the Triangle Fire, the movie comments that: Answer: There cannot be unregulated industrialization. New York City garment workers during this time were primarily: answer: young Jewish women from Russia and Eastern Europe The Shirtwaist Strikers' ability to influence change was enormously helped by: answer: society women joining the cause in the name of women's suffrage After the Triangle Fire, based on the findings of a factory safety commission: answer: all of the above(minimus wage standards were enacted child labor laws were enacted New York became a model of industrial reform)

WTO

World Trade Organization (WTO) -at the Uruguay Round, after 7 years of GATT negotiations, WTO replaced GATT(1994) -MFA was replaced by ATC(agreement on textiles and clothing) goal was to phase out MFA and quota system by 2005 WTO operates on these fundamental assumptions(GATT): trade protection weakens the global economy, freer trade strengthens the global economy WTO provides a forum for member countries to: address multilateral trade relations, facilitate the implementation of trade agreements focuses on multilateral trade agreements- more countries working together highest authority: ministerial conference... meet every 2 years -highest day-to-day authority: general council -a country's trade policy, rules, regulations and laws upheld by WTO and country's government Trade Agreement negotiations stay at the country level for months/years before reaching WTO•For decision to pass, 100% must agree upon it.•The WTO, ATC (Agreement on Textiles and Clothing), and Textiles Monitoring Body went into effect 1/1/95

Absolute/Comparative Advantage

absolute advantage: who produces more efficiently? real wealth:goods and services available welfare of individual: self-interest would benefit all trade without restrictions: specialize in industries where your costs are the lowest advantages: natural, acquired comparative advantage: what if you have no advantages? labor theory of value: the value of a commodity was determined by its labor cost a country will produce and export products that use the lowest amount of labor time relative to others many factors: land & water resources, climate and weather, transportation, energy and utilities, labor costs, skills, raw materials, legal/ regulatory structure, tax structure, alternative uses for resources comparative advantage: comparison, the lowest relative costs

The Americas & Caribbean Basin

caribbean basin( central america + west indies) OAS(organization of american states) charter goals: defend democracy, protect human rights by addressing problems, strengthening security(to fight terrorism), FOSTERING FREE TRADE(created free-trade area of the americas), combating illegal drugs, fighting corruption OAS concerns: differences in culture, differences in social perspectives, differences in values FTAA(free trade area of the americas)... focus: industrial development through reduction of trade barriers.... n america sees FTAA as extension of NAFTA, s america sees FTAA as extension of Mercosur(common market of the south) CHARACTERISTICS: geographically: canada, us, brazil population: us, brazil, mexico west indies/carribean- significantly smaller longest life: canada, us, costa rica, chile.. lowest: haiti highest literacy: us, Canada, Uruguay, Argentina.. lowest: haiti, nicaragua highest (per capita) gpa : us, canada

Trade Theory

development of trade: Mercantilism (1500-1750)->Domestic industry->Favorable balance of trade->Domination of colonies absolute vs. comparative

Maquilapolis - Basic Informational Questions

email notes

global citizenship

empowers individual human beings to PARTICIPATE IN DECISIONS CONCERNING THEIR LIVES, including the political, economic, social, cultural and environmental conditions in which they live. It includes the right to VOTE, to EXPRESS OPINIONS and ASSOCIATE with others, and to enjoy a decent and dignified quality of life it expressed through ENGAGEMENT in the various communities of which the individual is part, at the local and national and global level & it includes the right to challenge authority and existing power structures- to think, argue and act- with the intent of changing the world- michael byers

Human Development Index

evaluates development by "human development"... how the government invests in healthcare and education: thus ranks quality of life, other measurements of well-being 3 dimensions and four indications life expectancy at birth--> health mean years of school & expected years of schooling--> education gross national income per capita--> living standards types of income (gross)= total... (-taxes)= disposable ... (-savings/invest)= consumption expenditure ... (-fixed)= discretionary

Free Trade Zones

free trade zones: (foreign trade zone) is a port or other site within a nation designated for duty- free entry of selected goods to be displayed, stored, or used for manufacturing... typically within developing/newly developed countries.... helps with employment + low cost sourcing & reduces trade barriers qualifies industrial zone: is a highly specialized type of free trade zone that involves more than one nation, where manufacturing can take place, similar to a free trade zone.. i.e.- jordan and israel or egypt and israel free trade area: is a region made up of two or more countries that have a comprehensive free trade agreement eliminating or reducing trade barriers on products trades among countries... reduces trade barriers ... i.e. NAFTA

trade/measuring trade

give up abundance for something you have less of... buying and selling creates value... textbook def: refers to exchange of goods, services, or both and can be domestic, international, or global measuring trade... exports vs. imports exports: goods shipped for import to another country in exchange for money, other goods, or jobs... result in the accruing of revenue to the firms in the countries where the goods originated imports: make goods available for domestic consumption or materials available for domestic production ... balance of trade(exports-imports=trade balance), surplus(value of exports exceeds the value of imports) or deficit(value of imports exceeds the value of exports)

ATC

primary purposes: phase out MFA quota system by 2005, reintegrate the textile and clothing sector into the WTO, the new world trading system -the textiles monitoring body was set up to monitor the ATC and the MFA phasing out process -without MFA,(no quotas), countries had to compete in a free trade market

Hans Rosling Ted Talk

show how countries pull themselves out of poverty •We have not seen good health and economic progress anywhere in the world without destroying the climate and it needs to be changed • When in poverty, everything is about survival • Getting out of poverty involves getting technology • The dimensions of development o Human rights o Environment o Governance o Economic growth o Education o Health

History of Industrial Revolution

why industrialization? Development of trade and rise of businesses were major causes of Industrial Revolution •Textiles and apparel = dominant industry of Industrial Revolution •Dominant in - employment, value output, and capital •First to use modern production methods HISTORY Textile production one of the earliest large scale economic activities leading to industrialization:England ->US-> Japan-> Developing countries why? serves a basic need & adaptable to a wide range of resources lasted from 1760-1820/1840 began in the UK... great Britain controlled a global trading empire--> result of colonization England mid-1700s > precursors to IR •Science and capital solving production problems •Capitalists--those who see opportunity for profit through investment •Colonization > East India Company > Demand for cloth from India •Cotton difficult to get in UK •Primarily linen and wool •People didn't want UK textiles - Wanted Indian textiles •British Ban Cloth - Calico Acts •Mercantilism - policy designed to maximize a nation's trade...Typically +exports, -imports •Banned cotton textile imports in UK•Restricted sale of most cotton textiles •Import alternatives - calico and chintz •Competition eliminated, production expands.•WE SEE CHARACTERISTIC # 1! (Under threat of competition, industry is protected. See growth under protection ) Capitalists.. -Inventions: -John Kay: Mechanical Flying Shuttle: Wider Weaving -Spinning Bottleneck:Hargreaves Spinning Jenny (8x) -Arkwright: Water Frame -Crompton: Mule Bottleneck: Point of Congestion - Work load arrives too quickly for the production process to handle the invention turning point -Eli Whitney's cotton gin...Separates cotton fibers from seeds,MUCH faster than manual separation ..US invention ...Leads us to Characteristic 2! (Increase in production speed/technology to meet demand) 1795 Power loom•Not adopted until 1810. Why?? -Not very reliable -Required many modifications -Finally adopted when people not required to run it -characteristic 3(Job loss to technology/Increased productivity-Preservation of employment)

Trade Agreements/Policy History

trade agreements: trade policies -developed because of over saturation of markets -restricted developed markets, due to low costs imports: world wide surplus Trade policy: a political strategy or program designed to stimulate or control the exchange of goods between nations -recall history: Regulation comes with production •England (late 1600s): prohibition of Indian cloth •American industry (1700s), despite holding off of technology •Both protective: import substitution: because textiles first real industry. •1800s: Industry Expansion •England: lassiez faire: export growth: by 1900: 70% of world trade •America: domestic market focus, import substitution history: 1900s- joiners: japan, canada, wester europe... export oriented: japan and england -between WW1 & WW2... japans exports cause restrictions to be placed... 1933, leading cotton textile exporter... 1935: VER(voluntary export restraint: an exporting country aggress to limit exports so the importing country won't formally impose quotas, tariffs, or other controls) -post ww2: US& Britain dominate again, but japan makes quick recovery, and outpace again by 1953 -other producer nations: hong kong, south korea, india, pakistan... cotton(manu, fibers not important yet) -bilaterial agreements become common, usually limiting volume of products shipped SUMMARY -restrictive trade polices in developed countries -complicated rules, high tariffs, and bilateral quota agreements general agreement on tariffs & trade 1947 -shift to multilateral trade talks... "to liberalize world trade and place it on a secure basis, thereby contributing to economic growth and development to the welfare of the worlds people" -only multilateral instrument that establishes rules for international trade

Trade associations

trade association: is a nonprofit organization formed to serve the common needs of its members... i.e. in textiles/apparel: firm executives, consultants, tech suppliers, material services, editors/writers, educations... services: industry research, publications, seminars, trade shows, opportunities for sharing(challenges/solutions), government relations, lobbying lobbying: is the process of influencing the formation of legislation and the administration of rules, regulations, and policies... firms may hire lobbyists to communicate political position to legislators, ...textile industry segments may have differing political opinion 3 major US trade associations -textile industry: National Council of Textile Organizations -apparel and footwear industries: American Apparel and Footwear Association(AAFA) -retail industry: U.S. Fashion industry Association -changes to rules, regulations and policies for U.S. trade starts in the office of USTR(United States Trade Representative)... must be approved by US government -for global acceptance, need approval by WTO

APA Basics (In-text + References)

• The Basics (Quotes, Paraphrases)•(Last Name of Author, Year of Publication, Page Number)•(Rose, 2017, p. 5) •In 1993, John Doe said, "blah, blah, blah" (p. 7-8).•The page number is noted with a p.•Authors With the Same Last Name•Include First Initial -4+ lines quotes (Long Quotes) - no date= n.d. -alphabetize references page -indent second line of a references page entry -title capitalization -title of journal or publication- ALWAYS CAPITALIZE EVERYTHING -title of the article- capitalize the FIRST WORD ONLINE(unless its a proper noun) also capitalize the FIRST word after a colon/hyphen -books(basic format) example (Author, A. A. (Year of publication). Title of work: Capital letter also for subtitle. Location: Publisher.) Stone, E., & Farnan S.A. (2017). In fashion. New York, NY: Fairchild Books. day 6 powerpoint