Word: gattes
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Dates: during 1980-1989
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...PAST 35 YEARS. 88 nations have committed themselves to reducing international trade barriers by signing the General Agreement on Trade and Tariffs (GATT). Haunted by the memories of the high tariff policies of the Great Depression and persuaded by the arguments of free trade economics, almost all the world's noncommunist countries have agreed that protectionism is a dirty word. But the tenuous consensus reached in Geneva last Monday by the GATT ministers fails to break down trade barriers. Instead, it just sweeps them under...
Trying to halt the spread of new import quotas and restrictions is one of the goals of a meeting in Geneva later this month among the representatives of the General Agreement on Tariffs and Trade, known as GATT. It is unlikely, however, that any such agreement can be reached. The European nations themselves are worried about the flood of inexpensive imports from Third World nations like South Korea and Taiwan. The Reagan Administration has generally taken a position in favor of free trade, but with unemployment at 10.1%, it will be hard-pressed to maintain its stance...
...shortfalls have driven up interest rates because government borrowing has absorbed funds that could otherwise have been loaned to private industry. When governments have tried to help finance deficits by increasing their money supplies, the result has been more inflation. Says Jan Tumlir, chief economist of the international organization GATT (General Agreement on Tariffs and Trade): "The decisive political issue for the 1980s will be to get government expenditures under control...
...though, were paid for by increasing doses of credit from Western banks. As a result, the developing countries have piled up a staggering $450 billion in debts. Now the banks have grown cautious, and the debtor nations face hard times. Warns Jan Tumlir, chief economist for the international organization GATT (General Agreement on Tariffs and Trade): "I expect that for the first time we will have a generalized recession in the sense that the imports of the developing countries will increase only marginally...
...include operating a nation's canals. All capitalist countries have mixed economies that combine some free-market features and some government controls, depending on practical needs, tradition and political trends. But there are sharp new questions about the mix. Says Jan Tumlir, chief economist of the world trade organization GATT (General Agreement on Tariffs and Trade): "The 1980s must be a period of rethinking the functions of government. We should figure out what governments should do and can do well and what governments should not even...