Compare and Contrast "Rules-Based" Trade Policy with "Results-Based" Trade Policy

question 24

Essay

Compare and contrast "rules-based" trade policy with "results-based" trade policy. On which type is the GATT based? Which type is consistent with the "new reciprocity" approach to trade policy?

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Definitions:

Cultural Issues

Matters and disputes that arise from differences in beliefs, values, and practices among various cultures or societies.

Agents of Socialization

Individuals, groups, and institutions that play a significant role in integrating individuals into the social structure by teaching social norms, values, and customs.

Early Socialization

The process by which individuals, especially children, learn and adopt the norms, values, behaviors, and social skills appropriate to their society from an early age.

Socioeconomic

Relating to or concerned with the interaction of social and economic factors.