POLSCI 2J03 Lecture Notes - Lecture 8: United Nations Conference On Trade And Development, Developing Country, General Agreement On Tariffs And Trade
19 Mar 2020
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Document Summary
Regionalism ( trade becoming regionalized in particular blocs) Since the 1940s there has been a division between poor and rich countries. Led developing countries to seek more beneficial system. Developing countries came up with different systems such as. Unctad set up to riva the gatt. These institutions did not succeed as hoped. The process of seeking a more beneficial system was halted. All of the energy that developing countries had to change the system dissipated-- had to focus on their debt issues. Still tension between developing and developed states. Sought to enforce developed countries to follow the liberal process in practice. Developing countries trying to get developed states to live up to their commitment. Problem that northern states protect their agricultural markets then dup their surplus onto the world market-- this depresses the price of agricultural products. Developing countries had a comparative advantage in producing textiles while developed countries protected their textile markets through tariffs.
