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:

Gray Matter

Regions of the brain and spinal cord consisting primarily of neuronal cell bodies, dendrites, unmyelinated axons, and glial cells, involved in muscle control and sensory perception.

Nuclei

The central and most important parts of an atom, or a cell's structure that contains the genetic material.

Resting Membrane Potential

The electrical charge difference across the cell membrane when the cell is in a non-excited state.

Local Potential

A temporary, localized change in resting potential, usually occurring in neurons, that can lead to an action potential if it reaches threshold.