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WTO Law Class 2: History, quizz, Institutional Law Ferrara 2018 Dr. Holger Hestermeyer Shell Reader in Interna;onal Dispute Resolu;on, Kings College London Organiza;on n Exam n 26 April Reasons for Free Trade n Economic reasons: increasing

  1. WTO Law Class 2: History, quizz, Institutional Law Ferrara 2018 Dr. Holger Hestermeyer Shell Reader in Interna;onal Dispute Resolu;on, King‘s College London

  2. Organiza;on n Exam n 26 April

  3. Reasons for Free Trade n Economic reasons: increasing wealth n specializa;on n expanding markets n diffusion technologies and ideas n consumer benefits n theory: absolute v compara;ve advantage n Peace and interna;onal stability

  4. Cri;ques of free trade n Distribu;onal issues n Development requires protec;onist policies (e.g. infant industry) n Na;onal security n Hypocrisy of the rich: no free trade in agriculture, tex;les, etc. n Externali;es (e.g. health, environmental, cultural issues)

  5. History Nego;a;ons for the ITO 1947 GATT 1948 ITO Charter Protocol of Provisional Applica;on “Havana Charter” 1950 not submi_ed to US Senate

  6. History • 1949 Annecy Round • 1951 Torquay Round • 1955-56 Geneva Round • 1960-62 Dillon Round • 1962-67 Kennedy Round • 1973—79 Tokyo Round

  7. History • 1986-96 Uruguay Round

  8. Commodities (production) • Coffee • OIL Coffee: February 2018, International Coffee Organization Oil: IEA

  9. GDP Nations (nominal) 1 3 2 Runners-up • Germany • UK • India • France Source: IMF, 2017 • Brazil • Italy

  10. GDP (nominal) per capita 1 3 2 Runners-up • Ireland • Iceland • (Italy: 25) Source: IMF, 2017

  11. and Africa? 3 2,5 2 1,5 GDP in trillion $ 1 0,5 0 Nigeria South Africa Africa Source: Wikipedia 2014/2015

  12. Quiz 4 – and Africa? 20 18 16 14 12 10 GDP in trillion $ 8 6 4 2 0 Nigeria South Africa Japan China USA Africa Source: Wikipedia 2014/2015

  13. Exporters of Goods 1 3 2 Runners-up • Japan • Netherlands • Italy: 9 Source: WTO 2016

  14. Exporters of Commercial Services 1 3 2 Runners-up • France • China Source: WTO 2014

  15. Destination of Italian Exports 1 3 2 Runners-up • UK • Spain Source: global edge 2016

  16. Current Account Balance In Billion US$ 300000 200000 100000 0 -100000 -200000 -300000 -400000 -500000 Source: OECD 216

  17. Current Account Balance In Billion US$ 10 8 6 4 2 0 -2 -4 -6 Source: OECD 216

  18. Quiz 10 - Regionalism Partnership CET CETA A EU EU TTIP TTIP Trans-Pacific P SA SADC

  19. Quiz 11 - Corporations By revenue 1 3 2 Runners-up • Royal Dutch Shell • ExxonMobil Source: Wikipedia

  20. Corporation revenue v. Country GDP 24) Argentina 25) Belgium 26) Taiwan 27) Norway 28) Austria 29) Iran 30) Thailand 31) United Arab Emirates

  21. In this class • WTO • GATT • Dispute se_lement in the WTO • GATS • TRIPS • FTAs • Brexit • Anyone who reads GATT is likely to have his sanity impaired (Senator Eugene D. Milliken 1951)

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