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GATT vs. WTO

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  1. Introduction
  2. E-commerce: A growing market
    1. Internet
    2. The e-commerce market
    3. The players in e-commerce
  3. Marketing: An indispensable function
    1. Background and definition
    2. Different specialties and specific marketing
    3. A marketing (r) evolution
  4. CRM: The Heart of (e) Marketing
    1. Background and definition
    2. Applications for the CRM in business
    3. The CRM e-commerce
  5. Conclusion

In 1945, the United States had a major political goal. The goal was to build a new world order, which would be based on negotiations with other nations, conducted through international organizations. This led to the formation of institutions such as the UNO, the IMF and the IBRD. The U.S also wanted to avoid a relapse of a situation similar to that of the Great Depression that occured in the 1930s, with respect to trade. Trade barriers between nations had contributed to the magnitude and the duration of the depression. The Smoot Hawley Tariff Act of 1930 increased the tariff on over 20,000 imported goods to a level that had never been reached before. This act is often cited as one of the important turning points of the process that led to the decline in economic activity in most countries of the world. This coupled with international political instability had led to the world wars. After the war ended, the U.S wanted to create a structure that allowed multilateral negotiations in order to eliminate the obstacles to trade. Leading economists like Keynes backed the attempt and helped in the creation of such a structure. The General Agreement on Tariffs and Trade, better known as GATT in its abbreviated form, was signed in 1947 in Geneva. The attempt to create an International Trade Organization had failed, which resulted in the GATT. This institution governed world trade for forty-six years before being replaced by the World Trade Organization (WTO). The World Trade Organization is a new international organization, which was created under the Final Agreement of Marrakech on 12 April, 1994. In this document, we will discuss the contributions of the GATT to world trade. We will also try to find answers to: Why was the WTO created? WhIn 1945, the United States had a major political goal. The goal was to build a new world order, which would be based on negotiations with other nations, conducted through international organizations. This led to the formation of institutions such as the UNO, the IMF and the IBRD. The U.S also wanted to avoid a relapse of a situation similar to that of the Great Depression that occured in the 1930s, with respect to trade. Trade barriers between nations had contributed to the magnitude and the duration of the depression.

The Smoot Hawley Tariff Act of 1930 increased the tariff on over 20,000 imported goods to a level that had never been reached before. This act is often cited as one of the important turning points of the process that led to the decline in economic activity in most countries of the world. This coupled with international political instability that had led to the world wars. After the war ended, the U.S wanted to create a structure that allowed multilateral negotiations in order to eliminate the obstacles to trade. Leading economists like Keynes backed the attempt and helped in the creation of such a structure.

The General Agreement on Tariffs and Trade, better known as GATT in its abbreviated form, was first signed in 1947 in Geneva. The attempt to create an International Trade Organization had failed, which resulted in the GATT. This institution governed world trade for forty-six years before being replaced by the World Trade Organization (WTO).

The World Trade Organization is a new international organization, which was created under the Final Agreement of Marrakesh on 12 April, 1994. In this document, there will be a discussion on the contributions of the GATT to world trade.

This document will also try to find answers to: Why was the WTO created? Why did it replace GATT? What are the differences between the WTO and GATT? To answer these questions, the role played by GATT in the advent of multilateralism, its operation, the reasons behind its failure, and finally, the WTO which replaced the GATT recently will all be discussed.

Two negotiations are under way in 1946: one in the UN on the establishment of an International Trade Organization (ITO), responsible for contributing to international economic cooperation alongside the Bretton Woods financial institutions and the one in Geneva on reducing trade barriers.

The Havana Charter establishing the OIC could not be ratified, largely because of opposition from the Congress of the United States, the international trade order has been governed for half a century by an agreement and organization vocation that is provisional and with limited powers. Indeed, October 30, 1947, during the Geneva negotiations, was signed a General Agreement on Tariffs and Trade, AGETAC, better known by its abbreviation standing GATT: General Agreement on Tariffs and Trade.

In this agreement, the GATT included 23 "contracting parties." The GATT is not an organization in the legal sense, the institutional level, not only an international trade organization was born.

The main action of the GATT was to hold regular Multilateral Trade Negotiations (MTN) between the contracting parties. Since 1947, seven rounds can be identified.

Tags: GATT (General Agreement on Tarrifs and Trade); International Trade Organization; role of GATT

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