write a brief summary about the paragraph The basis for the reestablishment of w
ID: 352402 • Letter: W
Question
write a brief summary about the paragraph The basis for the reestablishment of world trade following World war II
Marketing-International Marketing-Cateora, Gilly, Graham, 17e major impediment to trade, is followed by a review of the General Agreement on Tariffs and Trade (GATT) and its successor, the World Trade Organization (WTO), two multina- tional agreements designed to advance free trade. The Dynamic Environment of International Trade The Twentieth to the Twentv-First Centurv At n time in mardern economic historv have coun tries x This section is highlighted because it contains topics that are especially important for you. trade existed, or has the potential for increased demand of the 21st century. This statement remains true even with due regard to the global financial crisis that began in 2008. In contrast, in the preccding 100 years, world cconomic develop- ment was erratic International Marketer's Minefield The first half of the 20th century was marred by a major worldwide economic depres- sion that occurred between two world wars that all but destroyed most of the industrialized world. The last half of the century, while free of a world war, was marred by struggles between countries espousing the socialist Marxist approach and those following a demo- cratic capitalist approach to economic development. As a result of this ideological split, The Twentieth to the Twenty-First Century LO1 The basis for the reestablishment of world trade following World War II After World War II, as a means to dampen the spread of communism, the United States set out to infuse the ideal of capitalism throughout as much of the world as possible. The Marshall Plan to assist in rebuilding Europe, financial and industrial development assis- tance to rebuild Japan, and funds channeled through the Agency for International Develop- ment and other groups designed to foster economic growth in the underdeveloped world were used to help create a strong world economy. The dissolution of colonial powers cre- ated scores of new countries in Asia and Africa. With the striving of these countries to gain economic independence and the financial assistance offered by the United States, most of the noncommunist world's economies grew, and new markets were created Balance of Payments Outline chapter 31 630Explanation / Answer
The groundwork for the reestablishment of world tradefollowing World war Il the consequences of protectionism on world trade
The seven varieties of trade barriers The provisions of the Omnibus trade andCompetitiveness Act
The significance of GATT and the world TradeOrganization
The emergence of the worldwide monetary Fund andthe World financial institution crew
each country appears to take capabilities of the open united states of americamarket whilst placing barriers in the way of U.S. Exports.
barriers to alternate, each tariff and nontariff, are one in all themajor issues confronting international marketers.
If the benefits of the social, political, and economicchanges now taking position are to be wholly realized, freetrade have to prevail throughout the global market.-WTO (World alternate institution)
First half of the twentieth Century-despair plus two World Wars
last 1/2 of the 20th Century-Marred via struggles between international locations espousing thesocialist Marxist process and people following ademocratic capitalist method
Marshall Plan
transfer toward worldwide cooperation amongst tradingnations used to be appear within the negotiation of the GeneralAgreement on Tariffs an trade, (GATT)
1950s, many U.S. Corporations that had under no circumstances beforemarketed outside the U.S. Started out to export, othersinvested in production services abroad.
1960s, U.S. Multinational establishments (MNCs) werefacing essential challenges on two fronts:-Resistance to direct funding-increasing competitors in export markets
American MNCs have been confronted through a resurgence ofcompetition from all over the place the arena.-NIC (Newly Industrialized countries)
The balance of Merchandise alternate-U.S. Exchange Deficit
U.S. Difficulty of the right way to encourage buying and selling partners toreciprocate with open access to their markets withoutprovoking expanded protectionism.
-WTO (World trade group
-APEC (Asia-Pacific fiscal CooperationConference)
-NAFTA
safeguard of infant industry or home marketNeed to hold cash at homeEncouragement of capital accumulationMaintenance of the average of dwelling and actual wagesConservation of traditional resourcesIndustrialization of a low-wage nationMaintenance of employment and discount ofunemploymentNational defenseRetaliation and bargaining
abstract
the advantages from absolute or comparative advantageclearly can accrue to any nation.
increased stress for protectionism.
The patron seldom benefits from such protection.
Free global markets support underdeveloped countriesbecome self-enough.
Freer exchange will continuously be partly threatened by using variousgovernmental and market boundaries that exist or are createdfor the safety of neighborhood businesses.
the future of open global markets lies with the controlledand equitable reduction of alternate obstacles.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.