曼昆宏观经济学原理第六版讲义.ppt

Arguments For Restricting Trade The unfair-competition argument “Free trade is desirable only if all countries play by the same rules” Increase in total surplus for the country The protection-as-a-bargaining-chip argument “Trade restrictions can be useful when we bargain with our trading partners” The threat may not work * ? 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Trade agreements and the WTO World Trade Organization, WTO Unilateral approach to achieve free trade Remove its trade restrictions on its own Great Britain - 19th century Chile and South Korea - recent years Multilateral approach to free trade Reduce its trade restrictions while other countries do the same NAFTA GATT * ? 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Trade agreements and the WTO North American Free Trade Agreement (NAFTA) 1993 - lowered trade barriers among the United States, Mexico, and Canada General Agreement on Tariffs and Trade (GATT) Continuing series of negotiations among many of the world’s countries with the goal of promoting free trade * ? 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Trade agreements and the WTO GATT United States - helped to found GATT After World War II In response to the high tariffs imposed during the Great Depression Successfully reduced the average tariff among member countries from about 40% to 5% Enforced by the WTO 153 c