Global Trade

Question 1

Names Global Trade

Answer 1

L: none
R: Price, Muenning

Question 2

TBT =

Answer 2

TBT = “Technical Barriers to Trade” agreement

Question 3

SPS =

Answer 3

SPS = Agreement on the application of “Sanitary and Phytosanitary Measures”

Question 4

GATS =

Answer 4

GATS = “General Agreement on Trade in Services”

Question 5

TRIPS =

Answer 5

TRIPS = Requires all WTO members to establish minimum standards for protecting and enforcing intellectual property rights. (Doha decleration on TRIPS and public health, 2001)

Question 6

Flexibility (trade) =

Answer 6

• voluntary licensing

- compulsory licensing

Question 7

R: Trade:
W…: 3
M…: 3

Answer 7

WTO: - WTO’s aim = extend free market in the provision of public services

• Aim of that = economic growth and stability based on free market and minimum gov interference
• EU tradition based of solidarity = dismantled

Muenning: - Free trade = interventions and borders removed from business dealings

• Trade barriers are bureaucratic and transaction costs (more difficult to sell and buy)
• unregulated market exists only in theory (health)