The World Trade Organization (and its predecessor, GATT) is the target of mass p
ID: 1092998 • Letter: T
Question
The World Trade Organization (and its predecessor, GATT) is the target of mass protest and civil disobedience, partly because of their record on environmental decisions. Briefly discuss the relationship between economic growth and environmental degradation, and then discuss the relationship between economic growth and international trade. Use this as a background to discuss the Uruguay Round decision that an import cannot be restricted based solely on the exporters use of a pollution-generating input or production method.
Explanation / Answer
Economic growth
Economic growth has two meanings:
Firstly, and most commonly, growth is defined as an increase in the output that an economy produces over a period of time, the minimum being two consecutive quarters.
The second meaning of economic growth is an increase in what an economy can produce if it is using all its scarce resources. An increase in an economy
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