Political Science 2211E Lecture Notes - Lecture 5: North American Free Trade Agreement, Uruguay Round, General Agreement On Tariffs And Trade
4 Apr 2020
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Today"s topics: postwar protectionism, the shift to free trade and globalized production, the shift in corporate governance and business-labour relations. Protectionism: opposite of free trade, government intervention to protect domestic industries, tariffs: tax on imports, non-tariff barriers, quotas, subsidies, buy american government procurements. Post-wwii era in canada: trade still guided by national policy of 1878, high tariffs and open investment policy, protect infant industries, attract branch plants. The shift to free trade: firms moved to developing countries in response to stagflation and high wages, taxes and regulations, debt crisis, imf and creation of export processing zones. Regional free trade deals: canada-us free trade agreement (cufta, north american free trade agreement (nafta) Global free trade: uruguay round of gatt, 1986-1994, finalized the shift from protectionism to free trade. Intellectual property rights: copyrights, patents and trademarks, did not apply across borders, led to illegal copies. Investor property rights: prevent nationalization, foreign investor protector agreements (fipas, allows firms to sue governments directly.
