MGT 3660 Lecture Notes - Lecture 7: Voluntary Export Restraints, Import Quota, General Agreement On Tariffs And Trade
28 Jun 2019
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Document Summary
Chapter 7 government policy and international trade. Lo 7-1 identify the policy instruments used by governments to influence international trade flows. Lo 7-2 understand why governments sometimes intervene in international trade. Lo 7-3 summarize and explain the arguments against strategic trade policy. Lo 7-4 describe the development of the world trading system and the current trade issue. Lo 7-5 explain the implications for managers of developments in the world trading system. Free trade occurs when governments do not attempt to restrict what citizens can buy from another country or what they can sell to another country. Free trade refers to the absence of barriers to the free flow of goods and services between countries. Nations nominally committed to free trade, but intervene to protect interests of politically important groups. Modern international trading system is based on general agreement on tariffs and trade (gatt) and the world trade organization (wto)
