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2012•The Wiley-Blackwell Encyclopedia of GlobalizationRequires access

General Agreement on Tariffs and Trade

George Ritzer

Open publisher page 7 citations

Abstract

Abstract The General Agreement on Tariffs and Trade (GATT) was a system for the liberalization of trade that grew out of Bretton Woods and came into existence in 1947. It operated until 1995 when it was superseded by the World Trade Organization (WTO). While GATT focused on trade in goods, the WTO also took on responsibility for the increasingly important trade in services. While GATT was simply a forum for the meeting of representatives of countries, the WTO is an independent organization.

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What this paper is about

Abstract The General Agreement on Tariffs and Trade (GATT) was a system for the liberalization of trade that grew out of Bretton Woods and came into existence in 1947. It operated until 1995 when it was superseded by the World Trade Organization (WTO). While GATT focused on trade in goods, the WTO also took on responsibility for the increasingly important trade in services. While GATT was simply a forum for the meeting of representatives of countries, the WTO is an independent organization.

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Available abstract

Abstract The General Agreement on Tariffs and Trade (GATT) was a system for the liberalization of trade that grew out of Bretton Woods and came into existence in 1947. It operated until 1995 when it was superseded by the World Trade Organization (WTO). While GATT focused on trade in goods, the WTO also took on responsibility for the increasingly important trade in services. While GATT was simply a forum for the meeting of representatives of countries, the WTO is an independent organization.

Key concepts: International trade, World trade, Free trade, International economics, Liberalization, International free trade agreement, Goods and services, Free trade agreement

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