Global trade

2204 mots 9 pages
| |LSBU |
| |Farah COHEN |
| | |
| |2821847 |

|[What do you consider to have been the major achievements and failings of the multilateral trading system that has existed in the world |
|since 1947? What changes and why would you consider to be desirable?] |
|Multinational Firms and Global Trade |

Nowadays big economies follow market principles in their own way. Billions people take part in the globalization process, the main idea being to insure prosperity and peace in the world, trough open and non discriminatory trade. This idea is known as multilateralism. It took a central place in the spirit of people who wanted to rebuild their countries after the destruction of the war and therefore for two reasons. The first reason is protectionism which had a disastrous effect on the world economy. Indeed, after the economic chaos of the 1930s, it was admitted the only way to lead the reconstruction after the economic crisis and the war, was an opening market and the exchange liberalisation, guaranteed by rules. The second reason concerns politics. The main idea was that free trade is a source of economic prosperity and it represents an important element for the international security. In a system based on rules, trade could encourage a mutual economic between nations. The non discriminatory principle avoids arrangements between countries which would like to increase rivalry.
In consequences, in 1947, in Geneva, 23 countries come together to share their ideas about free trade. The discussions dealt with higher tariffs which benefit to no one. In order to reduce these tariffs they decided to create an

en relation

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