Maintaining Free Trade Among Nations

Overview • You already know that international trade is important to

all nations, even a country as large as the Canada. • Most of the products exchanged are goods, although a

growing number of services, such as insurance and banking, are also bought and sold.

• Nations trade for the same reasons that individuals do--they trade because they believe that the products they receive are worth the products they give up.

• In addition, because nations are free to trade, they must believe that they are better off with trade than without it.

From GATT - WTO

• GATT (The general agreement on tariff and trade) was the first international organization aimed at world trade.

From GATT - WTO

• GATT then became another organization that aids in connecting countries of the world is the World Trade Organization

Video

• Questions: 1.What is the reason GATT was created. 2. When it was created? 3. What the purpose of the WTO is and how did

it come about?

From GATT to WTO"

Video

Inside the WTO High Speed

WTO

WTO Website

• As a group we will go through the website and complete the Q’s together

• Arguments against WTOVideo – News in Review (Subsidy Battle)

Discussion 1. Suggest the pressure that Canadian officials might

experience acting on behalf of Canada at the WTO? 2. What are some major international factors that have

affected farmers? 3. What impact have the Canadian Wheat Board and the

federal government’s policies had on farming?4. What is value-adding? Do you think this is an effective

solution for the farmers?5. How do world wide subsidies effect the production of

wheat? The Price? What is the Canadian government to do?

Discussion

• What is your opinion? Is the WTO a necessary organization or can we do with out it?