Word: gattes
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After years of negotiations, the argument that could bring down the huge gatt is a dispute over Sleepless in Seattle. The U.S. and France disagree bitterly over France's protection of its film industry. The fight concerns money and cultural identity: U.S. films, comedies and action pictures have a 60% market share in France, while films from the entire European Community, many of which involve ineffable sentiments, have barely 1% of the U.S. market. Here's a rundown of what's hot in France...
...growing parts of world trade. While banks, insurers, securities firms and lawyers in the U.S. and Europe argued for access to restricted markets in Japan and Southeast Asia, those countries fought to keep them out. Meanwhile, the debate over "intellectual property" mostly pitted the developed against the developing world. GATT's new language for patents and copyrights gives the developed countries better weapons to fight piracy and counterfeiting of Cartier watches, Madonna videos or Lotus spreadsheet software -- an epidemic problem in Asia and Latin America that costs the U.S. $60 billion a year in lost sales...
...settle for retaining the European Community's airtime quotas against U.S. TV shows. "We feel that we have given the French enough to satisfy them on agriculture," said a senior Washington official and "now it's their turn to give on the audiovisual agreement." Once negotiators get a GATT, the U.S. Congress has until April 15 to approve the deal. If it appears the U.S. gave away too much just to win agreement, there could be a donnybrook. Still, GATT is likely to pass because it will mean lower prices, higher-quality goods, more income and better jobs -- and those...
...GATT Down to the Wire...
...Hope on GATT...