《I-Marketing》 南京大学mkt2.ppt

INTERNATIONAL MARKETING 6e International Trade Institutions and U.S. Trade Policy The Historical Dimension Ancient Traders Rome and the Pax Romana European Feudalism in the Middle Ages Protectionism in the 1930’s and Hawley-Smoot Act The Emergence of Global Division (1945) A Brief History of International Business Pax Romana The “Roman Peace” ensured that merchants were able to travel safely and rapidly on roads built, protected, and maintained by the Roman legions. A Brief History … continued Protectionism in the 1930’s and the Smoot-Hawley Act The Act raised import duties to reduce the volume of imports into the United States, with the intent of fostering increased domestic employment. World trade collapsed as other nations countered with raised duties and tariffs of their own. The Emergence of Global Division (1945) The post-war East and West ideological split The Soviet Union and the Eastern Bloc Council for Mutual Economic Assistance (CMEA or COMECON) 53 Western countries The International Trade Organization (ITO) - 1948 Pax Americana The “American Peace” ensuring safety in the Western world from 1945 to 1990 helped world trade grow dramatically. Transnational Institutions and World Trade General Agreement on Tariffs and Trade (GATT) World Trade Organization (WTO) International Monetary Fund (IMF) World Bank Regional Institutions General Agreement on Tariffs and Trade GATT focused on reducing prevailing high tariffs. -Was a able to reduce tariff from 26 to 5% (US) -Flow trade via bilateral trade agreement, voluntary trade restraints undermined GATT -GATT didn’t cover services -The Uruguay Round Most-Favored Nation (MFN) clause “… each member country of the GATT must grant every member country the most favorable treatment it accords to any other country with respect to imports and exports” World Trade Organization (WTO) 1995- General Agreement on Trade in Services (GATS) Trade-related aspects of intellectual property rights (TRIPS) Trade-