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GLOBAL AGREEMENTS

30 November, 2015 - 16:54

After World War II, policy makers attempted to develop international agreements on all political and economic issues in an effort to avoid a repetition of the 1930s. The most ambitious global agreement on international trade, signed in 1948, is known as the General Agreement on Tariffs and Trade (GATT). Figure 7.3 reviews the main outcomes of GATT discussions over the last forty or so years.