1. Global Trade Regulation Who regulates trade?

2. World Bank/International Monetary Fund The World Bank provides $20 billion/year to developing countries for things such as Education Health Agriculture Roads Electricity World Bank Headquarters, Washington DC The IMF is responsible for ensuring the stability of the international financial system; lends to troubled economies when they need it IMF’s Washington, DC Headquarters

3. Criticisms of World Bank/IMF Their loans/grants are often linked to making dramatic free market changes in a country’s economy that benefit western corporations Their actions have hurt more than helped in many places By charter, the President of World Bank is always American. According to the Bank’s charter, each country contributes a certain amount and gets that percentage of votes in deciding actions of the bank. France 4.3% United Kingdom4.3% Germany4.5% Japan7.9% United States 16.0% Since major decisions require an 85% super-majority, the U.S. is the only country that has veto power. John Stewart on the World Bank (4 min.) http://www.npr.org/player/v2/mediaPlayer.htm l?action=1&t=3&islist=true&id=3&d=04-17- 2012 New World Bank Pres.

4. North American Free Trade Agreement (NAFTA) 1993 U.S., Mexico & Canada sign far-reaching trade agreement –Involves complete reduction of tariffs and barriers to trade among the three –Creation of a completely FREE TRADE ZONE

5. Was/Is NAFTA controversial? Film clips from “Commanding Heights” (9 minutes) (10:10-19:00)—2 clicks in

6. Positive Effects of NAFTA Trade restrictions have been removed from many categories, including: --motor vehicles and auto parts --computers --textiles --agriculture Trade among the three has greatly increased

7. Negative Effects of NAFTA Massive dislocation of people, impoverishment of farmers Displaced Mexican farmers protesting in Mexico City U.S. Agribusiness weakening of environmental & labor laws Battery recycling

10. World Trade Organization Controversy over the WTO

12. Who is in Charge?

13. WTO as Dictator?

14. Collapse of Communism (1990) World movement towards Capitalism Free Trade requires a set of “rules” Road to Globalization WTO becomes Global Referee

15. WTO HISTORY Created 1995 (replaced General Agreement on Tariffs & Trade (GATT)) Headquartered in Geneva, Switzerland 146 Members - incl. ~ 100 Developing Countries

16. WTO Functions Provides a negotiating forum for nations to work toward lowering trade barriers (tariffs, quotas) Handles trade disputes through its Dispute Settlement Body

17. Criticisms of WTO Some argue its rules are written IN SECRET by and for corporations with inside access; consumer, environmental, human rights, labor organizations get left out Also, the WTO‘s Dispute Settlement Body can require that a government change its laws immediately or receive sanctions

19. Who is watching the Environment?

20. 1999 Seattle protest against the WTO Film clip: “Commanding Heights” (11 minutes—full clip) 1:14:27 --- 1:25:46 (15 clicks in)