Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. economics
  3. what characteristics of the gatt/wto system allowe

What characteristics of the GATT/WTO system allowed it to rapidly reduce tariffs after 1947 (make sure...

70.2K

Verified Solution

Question

Economics

What characteristics of the GATT/WTO system allowed it torapidly reduce tariffs after 1947 (make sure your answer includesMFN status, uniformity of treatment, etc.). Why did that processaccelerate in the 1960s? How did “MFN status” eventually become aproblem for the GATT/WTO?

Answer & Explanation Solved by verified expert
4.4 Ratings (770 Votes)
From 1948 to 1994 the General Agreement on Tariffs and Trade GATT provided the rules for much of world trade and presided over periods that saw some of the highest growth rates in international commerce It seemed wellestablished but throughout those 47 years it was a provisional agreement and organization The original intention was to create a third institution to handle the trade side of international economic cooperation joining the two Bretton Woods institutions the World Bank and the International Monetary Fund Over 50 countries participated in negotiations to create an International Trade Organization ITO as a specialized agency of the United Nations The draft ITO Charter was ambitious It extended beyond world trade disciplines to include rules on employment commodity agreements restrictive business practices international    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

DETAILS A hyperbola is the set of all points in the plane for which the...

Basic Math
Q

A board game uses the deck of 20 cards shown to the right Two cards...

Basic Math
Q

Convert the following angle to decimal degrees x 2 54 24 0 This question 1...

Basic Math
Q

Use the logarithm change of base formula to convert each of the following logarithms to...

Basic Math
Q

while being treated with a particular nutrient is 36 centimeters To check whether this is...

Statistics
Q

Exercise 21 On January 1, 2017, Stellar Corporation signed a 5-year noncancelable lease...

Accounting
Q

Vaughn Audio, Inc. manufactures speakers. An additional $500 of raw materials was included in the...

Accounting
Q

What would be the most important topic that you have learned in this Accounting course?...

Accounting
Q

Question 3: (C1&C2)(8 Marks) Indicate the category and the standard for each statement below: 1-...

Accounting
Q

Help analyze my answers to determine the missing information! I need one more variable filled...

Accounting
Q

Question 4 6 pts The role of operations is to use resources to transform inputs...

Accounting
Q

MBS is organized into two divisionsFabrication and Marketing. Fabrication produces a product that can be...

Accounting