CPO-3101 Lecture Notes - Lecture 43: Uruguay Round, World Trade Organization
16 May 2018
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A. Trade disputes (Uruguay Round of WTO in 1992
magnified this)
a. Entry price and refund cause problems
b. Countries that trade with EU don’t like this
c. Want to be able to trade with EU more
d. Uruguay round—negotitation that turned the post
WWII trade organization into WTO. Global trade
policies included agriculture for the first time. ///
i. Uruguay round was last completed round in
WTO.
ii. Doha round started in mid 2000s—still
going on.
iii. One rule in WTO was you can’t subsidize
things for export ///
1. We’ll give you $2 for every item you
export abroad
2. Refund is an export specific subsidy;
technically violates WTO.
a. EU was free to keep doing refund,
but US could put their own refunds,
etc.
3. After Uruguay round they wanted to
figure out how to get rid of refund.
B. Large vs. small farmers
a. Benefits large farmers over small; more items you
make, more money you make.
C. Consumer costs
a. Massive consumer costs raise the price of all food.
D. Expansion east
a. Eastern Germany-large ag area as well.
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