B - Economic environment for multinational organisations Flashcards
0
Q
What are some benefits and drawbacks of protectionist measures?
A
Benefits:
Reciprocal tariff reduction which would increase trade and economic development
May gain competitive advantage through specialization
Gain political capital and influence worldwide
Drawbacks:
Lack of protection for infant declining industries
Prevent Dumping of goods which may hurt local producers
1
Q
What is the role of the WTO?
A
Reduce barriers to trade by seeking to prevent protectionist methods
Continue the implementation of GATT
Forum for negotiations and offering of settlement processes to resolve disputes between countries
