McGraw-Hill/Irwin ? 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.
5-1
Administrative Policies
Bureaucratic rules designed to make it difficult for imports
to enter a country.
Japanese ‘masters’ in imposing rules.
Tulip bulbs.
Federal Express.
McGraw-Hill/Irwin ? 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.
5-2
GATT Negotiating Rounds
Geneva 1947 23
Annecy 1949 13
Torquay 1950-51 38
Geneva 1956 26
Dillon 1960-62 45
Kennedy 1964-67 62
Tokyo 1973-79 99
Uruguay 1986-94 117
9.0
8.5
8.0
7.5
7.0
6.5
6.0
5.5
5.0
4.5
4.0
World Trade
World Income
1953-63 1963-73
Annual Growth Under
GATT%
McGraw-Hill/Irwin ? 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.
5-3
Average Reduction in US Tariff Rates
1947 - 85
0
20
40
60
80
100
120
Pr
e
-
G
e
n
e
v
a
G
e
n
e
v
a
A
n
n
e
c
y
T
o
r
q
u
a
y
G
e
n
e
v
a
D
i
l
l
o
n
K
e
n
n
e
d
y
T
o
k
y
o
Index
Pre-Geneva
Tariff = 100
GATT Negotiating Rounds
McGraw-Hill/Irwin ? 2003 The McGraw-Hill Companies,Inc.,All Rights Reserved.
5-4
WTO
141 members (China) and 28 candidates.
Between 1995 and 2000,213 disputes brought before
the WTO.
Significant victories:
Telecommunications
68 countries (90%) of world
telecommunications revenues
Pledged to open their markets
to fair competition
Financial Services
95% of financial services market
102 countries will open,to varying
degrees,their markets.