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International Trade & the World Economy; Charles van Marrewijk CHAPTER 12; INT. TRADE ORGANIZATIONS Introduction The World Trade Organization (WTO/GATT) The United Nations (UN) and UNCTAD Organization for Economic Cooperation and Development (OECD) Case study: economic transition in Central and Eastern Europe Conclusions International Trade & the World Economy; Charles van Marrewijk CHAPTER 12; INT. TRADE ORGANIZATIONS Introduction The World Trade Organization (WTO/GATT) The United Nations (UN) and UNCTAD Organization for Economic Cooperation and Development (OECD) Case study: economic transition in Central and Eastern Europe Conclusions International Trade & the World Economy; Charles van Marrewijk Introduction Objectives / key terms Beggar-thy-neighbor World Trade Organization (WTO) General Agreement on Tariffs and Trade (GATT) United Nations (UN) UN Conference on Trade and Development (UNCTAD) Organization of Economic Cooperation and Development (OECD) Central and Eastern European economic transition process Jan Tinbergen (1903-1994) International Trade & the World Economy; Charles van Marrewijk CHAPTER 12; INT. TRADE ORGANIZATIONS Introduction The World Trade Organization (WTO/GATT) The United Nations (UN) and UNCTAD Organization for Economic Cooperation and Development (OECD) Case study: economic transition in Central and Eastern Europe Conclusions International Trade & the World Economy; Charles van Marrewijk The World Trade Organization (WTO/GATT) The international GATT agreement is based on three principles: • Non-discrimination; as expressed in two sub-principles - Most Favored Nation (MFN) treatment - National treatment of foreign products Two main exceptions to the non-discrimination principle: - Free trade areas and customs unions - Developing countries • Reciprocity (exception: developing countries) • Prohibition on trade restriction other than tariffs (exception in case of balance-of-payments problems) International Trade & the World Economy; Charles van Marrewijk The World Trade Organization (WTO/GATT) Duration of GATT rounds and number of countries involved. 100 Tokyo 40 Uruguay Kennedy Fourth 60 Second Third 80 First number of countries at start 120 Dillon 20 0 1945 1955 1965 1975 year 1985 1995 International Trade & the World Economy; Charles van Marrewijk CHAPTER 12; INT. TRADE ORGANIZATIONS Introduction The World Trade Organization (WTO/GATT) The United Nations (UN) and UNCTAD Organization for Economic Cooperation and Development (OECD) Case study: economic transition in Central and Eastern Europe Conclusions International Trade & the World Economy; Charles van Marrewijk The United Nations (UN) and UNCTAD UN established in 1945, deals with many issues (culture, human rights, security, etc.); for economics most important ECOSOC: • Programs and Funds; UNCTAD, UNDP, UNHCR, UNICEF, etc. • Functional Commissions; Social Development, Human Rights, etc. • Regional Commissions; ECA, ECE, ECLAC, ESCAP, etc. • Specialized (independent) Agencies; ILO, FAO, UNESCO, WHO, WorldBank, IMF. UNCTAD established out of dissatisfaction with the role of developing countries in the world economy (Group of 77); publishes the World Investment Report. International Trade & the World Economy; Charles van Marrewijk CHAPTER 12; INT. TRADE ORGANIZATIONS Introduction The World Trade Organization (WTO/GATT) The United Nations (UN) and UNCTAD Organization for Economic Cooperation and Development (OECD) Case study: economic transition in Central and Eastern Europe Conclusions International Trade & the World Economy; Charles van Marrewijk Organization for Economic Cooperation & Development, OECD International Trade & the World Economy; Charles van Marrewijk CHAPTER 12; INT. TRADE ORGANIZATIONS Introduction The World Trade Organization (WTO/GATT) The United Nations (UN) and UNCTAD Organization for Economic Cooperation and Development (OECD) Case study: economic transition in Central and Eastern Europe Conclusions International Trade & the World Economy; Charles van Marrewijk Increasing degree of private control Case study: economic transition in Central and Eastern Europe Economic market capitalism transition socialism has different dimensions A socialism / communism Increasing degree of private property welfare state International Trade & the World Economy; Charles van Marrewijk Case study: economic transition in Central and Eastern Europe Food ppf B C A Manufactures O E D International Trade & the World Economy; Charles van Marrewijk Case study: economic transition in Central and Eastern Europe GDP/capita (index, 1990 = 100) 140 Poland 120 Hungary 100 Slovak Rep. 80 Russia 60 Ukraine 40 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 International Trade & the World Economy; Charles van Marrewijk CHAPTER 12; INT. TRADE ORGANIZATIONS Introduction The World Trade Organization (WTO/GATT) The United Nations (UN) and UNCTAD Organization for Economic Cooperation and Development (OECD) Case study: economic transition in Central and Eastern Europe Conclusions International Trade & the World Economy; Charles van Marrewijk Conclusions GATT, replaced by WTO, deals most directly with international trade problems (GATT rounds to reduce trade barriers become more complicated, take longer and involve more countries over the years). UN organizations affect all aspects of human life; UNCTAD focuses on problems of developing countries. OECD is organization of economically more advanced countries. Adjusting a country’s organizational and institutional framework is an enormous and time-consuming process, as illustrated by the Central and Eastern European countries.