MKT 100 Lecture Notes - Lecture 11: International Monetary Fund, Global Entry, General Agreement On Tariffs And Trade

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: unavailable

Document Summary

Globalization: refers to the increased flow of goods, services, people, technology, capital, information and ideas around the world; has economic, political, social, cultural and environmental impacts. Globalization of production (or offshoring): refers to manufacturers procurement of goods and services from around the globe to take advantage of national differences in the cost and quality of production (ex. General agreement on tariffs and trade (gatt): agreement established to lower trade barriers, such as high tariffs on imported goods and restrictions on the number and types of imported products that inhibited the free flow of goods across borders. World trade organization (wto): replaced the gatt in 1994, differs from the. Gatt in that the wto is an established institution based in geneva, switzerland, instead of simply an agreement, represents the only international organization that deals with the global rules of trade among nations. International monetary fund (imf): established as part of the original general.