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Essay / Research Paper Abstract
A 3 page paper that explains the origins of the General Agreement on Tariffs and Trade (GATT), which was replaced by the World Trade Organization (WTO). GATT came from the original Bretton Woods system established after World War II. The writer comments on the success of GATT and WTO. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: MM12_PGgattwt.rtf
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Unformatted sample text from the term paper:
23 countries who were going to be part of the original GATT did not want to wait for the Bretton Woods conference to complete all of its work before international
trade became more liberalized and so, these 23 nations began negotiating trade issues, such as tariffs (Georgetown University Law Library, 2001; Iowa State University, nd). The results of the negotiation
were incorporated into the GATT, which was subsequently signed in 1947 (Georgetown University Law Library, 2001). The World Trade Organization (WTO), established on January 1, 1995, is the GATT successor
(World Trade Organization, 2002). The WTO came out of the last GATT round held in Uruguay between 1986 and 1994, which it why it is sometimes referred to as the
Uruguay Round (World Trade Organization, 2002). The WTO incorporates numerous agreements signed by the member nations. It took years of meeting and negotiating to arrive at the World Trade Organization
agreement (Iowa State University, nd). There were disagreements on agriculture, tropical products, market access, services and a number of other issues (Iowa State University, nd). The final agreement was signed
by 125 state governments on April 15, 1994 (Iowa State University, nd). The WTO is not simply an extension of the GATT, it is different and it replaces the
GATT (Iowa State University, nd). The GATT was basically a set of rules that had no institutional foundation but that were agreed to by the nations involved (Iowa State University,
nd). The WTO is its own institution with its own headquarters, employees, and budget (Iowa State University, nd; World Trade Organization, 2002). The WTO is involved with goods and services,
including intellectual property (Iowa State University, nd). The WTO has a dispute resolution and settlement system that is usually quick (Iowa State University, nd). As of January 1, 2002, 144
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