Trade Liberalization and Labor Rights

This chapter presents details of trade liberalization and labor rights. It emphasizes on the impact of full trade liberalization, and trade liberalization being a precondition for sustained economic growth. It discusses protectionism, and how World Trade Organization, General Agreement on Tariffs and Trade, and General Agreement on Trade and Services were established. It discusses the terms of trade, and helps in making the basic understanding of a variety of terms related to trade. It discusses The Stolper-Samuelson Theorem. It helps in making the differentiation in fair trade and free trade. It elaborates on multilateral versus bilateral trade. It depicts the trade with African countries, and two major initiatives that have been proposed by the European Union and the United States in recent years to foster and increase trade with Africa. It also discusses the labor rights and International Labour Office.