Week 6 The global economy
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Question 1
a) What are the principal objectives of the World Trade Organization (WTO), as formulated in
the preamble to the WTO Agreement?
The principal objectives of the WTO are:
- raising standards living
- ensuring full employment and a large and steadily growing volume of real income and
effective demand
- expanding the production and trade in goods and services
- allowing for the optimal use of the world’s resources in accordance with the objective of
sustainable development
- seeking both to protect and preserve the environment
- enhance the means of doing so in a manner consistent with their respective needs and
concerns at different levels of economic development
Not pure economic, also environmental (sustainable development) and social-economic
objectives. How much you can use with sustainable development, with environmental
concerns. All new in WTO Agreement 1994 (in GATT no not-economic concerns).
- There is need for […] economic development.
Help to developing states.
b) Which general principle of the GATT are included in Articles I, III and XI of the GATT?
In article I of the GATT is included the general principle to expand the production and trade
in goods and services in accordance with sustainable development. Like the article also says
the ‘general most-favoured-nation treatment-principle’.
I don’t know what this exactly means because I couldn’t follow this (because of the speed and English language)
during the lecture.
Most favoured nation treatment. All the countries have to be treated the same when it
comes to import and export. The same treatment as the best country gets for all GATT /
WTO members. TAXES.
In article III of the GATT is included the general principle to ensure full employment of
effective demand. Like the article also says the ‘national treatment on Internal taxation and
regulation- principle’.
Again I don’t know what this exactly means because I couldn’t follow this (because of the speed and English
language) during the lecture.
Non-discrimination – principle. The same taxation of domestic product for imported
products. National treatment.
Only at like products. This rules only between WTO members.
In article XI of the GATT is included the general principle to expand the production and trade
in goods and services. Like the article says ‘elimination of quantitative restrictions-principle’.
States can’t make restrictions like import /export quotas and import/export licenses.
QUANTITY.
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Question 1
a) What are the principal objectives of the World Trade Organization (WTO), as formulated in
the preamble to the WTO Agreement?
The principal objectives of the WTO are:
- raising standards living
- ensuring full employment and a large and steadily growing volume of real income and
effective demand
- expanding the production and trade in goods and services
- allowing for the optimal use of the world’s resources in accordance with the objective of
sustainable development
- seeking both to protect and preserve the environment
- enhance the means of doing so in a manner consistent with their respective needs and
concerns at different levels of economic development
Not pure economic, also environmental (sustainable development) and social-economic
objectives. How much you can use with sustainable development, with environmental
concerns. All new in WTO Agreement 1994 (in GATT no not-economic concerns).
- There is need for […] economic development.
Help to developing states.
b) Which general principle of the GATT are included in Articles I, III and XI of the GATT?
In article I of the GATT is included the general principle to expand the production and trade
in goods and services in accordance with sustainable development. Like the article also says
the ‘general most-favoured-nation treatment-principle’.
I don’t know what this exactly means because I couldn’t follow this (because of the speed and English language)
during the lecture.
Most favoured nation treatment. All the countries have to be treated the same when it
comes to import and export. The same treatment as the best country gets for all GATT /
WTO members. TAXES.
In article III of the GATT is included the general principle to ensure full employment of
effective demand. Like the article also says the ‘national treatment on Internal taxation and
regulation- principle’.
Again I don’t know what this exactly means because I couldn’t follow this (because of the speed and English
language) during the lecture.
Non-discrimination – principle. The same taxation of domestic product for imported
products. National treatment.
Only at like products. This rules only between WTO members.
In article XI of the GATT is included the general principle to expand the production and trade
in goods and services. Like the article says ‘elimination of quantitative restrictions-principle’.
States can’t make restrictions like import /export quotas and import/export licenses.
QUANTITY.
