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79. The WTO was encouraged to extend its reach to encompass regulations governing foreign direct
investment, something the GATT had never done. Two of the first industries targeted for this reform were:
80. Which of the following is NOT a constraint on a firm's ability to disperse its productive activities to foreign
countries?
81. Which of the following is a loophole in antidumping laws that is being exploited by many countries to
pursue protectionism?
82. Myra is a firm producing premium handbags for women. These bags are manufactured and patented in the
country of Ceria. Manufacturers in the country of Argonia create counterfeit Myra bags and sell them in the
local markets of Argonia. These bags are sold at almost similar prices to the original in other countries. Which
of the following is likely to happen?
83. Which of the following does NOT reinforce that the best interests of international business are served by a
free trade stance?
84. Which of the following has been excluded from the agenda for the Doha round of WTO talks that began in
2001?
85. The threat of antidumping action:
86. Define local content requirements. Explain how this helps domestic firms.
87. What conclusions can be derived from economic analysis of the effect of import tariffs?
88. What is a voluntary export restraint? Why do exporting countries agree to VERs? Explain with an example.
89. Explain with an example the administrative trade policies used by governments in addition to the formal
instruments of trade policy.
90. What are the political arguments for government intervention into international trade? Give examples.
91. Describe briefly, with examples, the use of trade policies by governments to support their foreign policy
objectives.
92. What is the "infant industry argument"? What are its implications for the world economy? What are the
criticisms of this argument?
93. Briefly describe the implications of the strategic trade policy as applied to international trade.
94. What constitutes the revised case for free trade?
95. Give a brief description of the origin, functions, and successes of GATT from 1947 to 1979, before
protectionist trends gained momentum across the world.
96. During the 1980s and early 1990s, why did the world trade system, erected by GATT, come under strain
due to increased pressures for greater protectionism?
97. Explain the organizational structure and the key functions of the WTO.
98. What are the issues that are at the forefront of the current agenda of the WTO?
99. How do trade barriers constrain a firm's ability to disperse its productive activities?
100. How does the increasing integration of the world economy and internationalization of production affect the
selection of a trade policy?
