BLaw 210 1st Edition Lecture 13 Outline of Last Lecture Business Marks a Trademarks b Copyrights c Patents I Outline of Current Lecture d Griswold e WTO f Corruption Current Lecture Syllabus amendments Quiz 3 still on 10 30 Extra Credit Bonus Quiz points added to exam 2 score 11 4 Exam 2 I MAD ABOUT TRADE GRISWOLD II a Import competition provides lower prices greater variety and better quality especially for poor and middle class families b Driven in part by Trade most new jobs are well paying service jobs that form the backbone of today s middle class BOEING IS A GOOD CASE FOR THIS c Trade barriers erected in the U S are manipulative and harmful and their value is often deliberately misrepresented by those with economic and or political agendas d Foreign investment here has created well paying jobs and investment abroad has give U S companies access to millions of new customers e Trade has helped expand the global middle class reducing poverty and child labor while fueling demand for U S products f Over the past three decades Trade and an open global economy have created a more prosperous democratic and peaceful world g The devastation if we reverse course A case for new Globalization W T O a The WTO aims to Increase International Trade by promoting lower trade barriers and providing a platform for the negotiation of trade b WTO Trade System Principle 1 Should be free of discrimination no preferential treatment for certain partners MFN Most Favored Nation domestic products no discrimination against foreign goods and services 2 Should tend toward more freedom by lessening trade barriers 3 Should be predictable for foreign firms and governments assurances that markets will remain open and that no arbitrary trade barriers be raised 4 Tend toward greater competition 5 Be more accommodating for developing Nations give deference These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute III IV Dispute Resolution Mechanism Methods for Enforcement CORRUPTION DEFINED TRANSPARENCY INTERNATIONAL a Corruption is the abuse of entrusted power for private gain b Corruption hurts