"Free" Trade vs. Government Managed Trade

Tariffs
Trade protectionism
  • Infant Industries
  • Import Substitution
  • Sunset Industries

Dumping
Pricing-to-market
Countervailing duties

Strategic Industries

Nontariff Barriers
Import Quotas

Government Barriers to Production-Factor Flows
Geography of Trade Protectionism

Multilateral Trade Agreements
GATT General Agreement on Tariffs and Trade
WTO

Regional Trade Agreements


Assignment

Read pp. 470-496 Come to class with a basic understanding of the following concepts: Development, developing, less developed countires, underdevelopment, Goals of development, characteristics of less developed countries, measures of economic development, Human Development Index, problems of less developed countries, cycle of poverty, capital flight.

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