29-10-2020, 01:08 PM
11
Re: The USA rejects proposed new WTO leader
Originally Posted by JBR
->
To be honest, I have never been interested in the ins and outs of international trade, so I admit that I don't know what I'm talking about.But a simple question I have is, how did we trade before the WTO or, for that matter the EEC/EU, came along?
For example, the UK has been trading with Japan since the late 16th Century - a book from 1580 (I know, right! Amazing.) advised early english merchants in trading wool & silk with Japan.
But tariffs came about to protect home produce from cheaper overseas competition; the earliest UK tariff was in the 14th century (! Yes, that early! ) to protect the price of homegrown wool.
Post-WW2 there began a system called GATT (General Agreement on Tariffs) which came about in order to reduce tariffs and other trade barriers.
The WTO began 1995 to replace and improve upon GATT.
http://www.tradeready.ca/2016/topics...t-wto-members/
29-10-2020, 01:33 PM
12
Re: The USA rejects proposed new WTO leader
Originally Posted by Zaphod
->
Up until WW2 everybody (basically) just bought & sold on the free market, just the same as for centuries before.For example, the UK has been trading with Japan since the late 16th Century - a book from 1580 (I know, right! Amazing.) advised early english merchants in trading wool & silk with Japan.
But tariffs came about to protect home produce from cheaper overseas competition; the earliest UK tariff was in the 14th century (! Yes, that early! ) to protect the price of homegrown wool.
Post-WW2 there began a system called GATT (General Agreement on Tariffs) which came about in order to reduce tariffs and other trade barriers.
The WTO began 1995 to replace and improve upon GATT.
http://www.tradeready.ca/2016/topics...t-wto-members/
The UK is a founding member of GATT - it's article 24 (I think) which contains the bit about most favoured nations and having interim solutions for trade agreements like we saw in the Malthouse Compromise.
Us Brits... we invent everything
29-10-2020, 02:57 PM
13
Re: The USA rejects proposed new WTO leader
Originally Posted by Bread
->
The UK is a founding member of GATT - it's article 24 (I think) which contains the bit about most favoured nations and having interim solutions for trade agreements like we saw in the Malthouse Compromise.Us Brits... we invent everything
It annoys me greatly when I see the UK derided, either for things like our creativity; our size (ooh er missus!); our supposed inconsequential stature on the global stage etc.
Obviously there remain many here who are ignorant (or dismissive) of this country's not-inconsiderable achievements.
We remain globally #6 in terms of GDP.
Not too shabby for a country ranked #21 in terms of population.
Ahead of us are the USA, China and India who have populations many times the size of our own, plus Japan and Germany - both of whom have been funded in their growth by the us and others post-war while we only finished paying our war debts at the very end of 2006!
Before anybody witters on about our wealth being because of centuries-past plundering - bluntly that is just so much bull. Almost every European country similarly conquered but none retains their centuries-old power or wealth, and the USA isn't the size of India or China yet is #1 in terms of GDP despite once being a colony of the UK and with, therefore, noe of the lengthy history.
Per head of population we surely lead the world in creativity, from music and literature to motorsport and movie visual effects.
Plus we're the world #1 for animal welfare and we have more five-star teaching institurions than any other country in the world.
You know what?
Are we perfect?
Nope, not by any means.
But we rock!
29-10-2020, 03:37 PM
14
Re: The USA rejects proposed new WTO leader
Originally Posted by Bread
->
Though I agree the WTO needs reform im in favour of an international trades dispute mechanism that promotes free trade and fair trade.Just because we import more goods than we sell it doesn't mean we should not protect our exporters and have a body where we can vote to impose sanctions.
Foreign producers should compete for our purchases.
Similarly, it is only fair that our producers should compete for their sales.
Of course, there will always be cheap Chinese rubbish with which we cannot compete on price, so we should concentrate on high quality products.
29-10-2020, 03:41 PM
15
Re: The USA rejects proposed new WTO leader
Originally Posted by Zaphod
->
Up until WW2 everybody (basically) just bought & sold on the free market, just the same as for centuries before.For example, the UK has been trading with Japan since the late 16th Century - a book from 1580 (I know, right! Amazing.) advised early english merchants in trading wool & silk with Japan.
But tariffs came about to protect home produce from cheaper overseas competition; the earliest UK tariff was in the 14th century (! Yes, that early! ) to protect the price of homegrown wool.
Post-WW2 there began a system called GATT (General Agreement on Tariffs) which came about in order to reduce tariffs and other trade barriers.
The WTO began 1995 to replace and improve upon GATT.
http://www.tradeready.ca/2016/topics...t-wto-members/
29-10-2020, 03:47 PM
16
Re: The USA rejects proposed new WTO leader
Originally Posted by JBR
->
I think it's all about competition.Foreign producers should compete for our purchases.
Similarly, it is only fair that our producers should compete for their sales.
Of course, there will always be cheap Chinese rubbish with which we cannot compete on price, so we should concentrate on high quality products.
This is why I want reform of the WTO and have a much quicker resolution mechanism that works appropriately. We should throw China out of the WTO as well and whack sanctions on it for the suffering the CCP have inflicted on the world with COVID-19.
Competition should be fair - China is far from it and so it the EU. Expect massive tariffs on German cars soon from Mr Trump when he gets re-elected next week.
29-10-2020, 03:52 PM
17
Re: The USA rejects proposed new WTO leader
Originally Posted by Zaphod
->
We are very inventive still. It annoys me greatly when I see the UK derided, either for things like our creativity; our size (ooh er missus!); our supposed inconsequential stature on the global stage etc.
Obviously there remain many here who are ignorant (or dismissive) of this country's not-inconsiderable achievements.
We remain globally #6 in terms of GDP.
Not too shabby for a country ranked #21 in terms of population.
Ahead of us are the USA, China and India who have populations many times the size of our own, plus Japan and Germany - both of whom have been funded in their growth by the us and others post-war while we only finished paying our war debts at the very end of 2006!
Before anybody witters on about our wealth being because of centuries-past plundering - bluntly that is just so much bull. Almost every European country similarly conquered but none retains their centuries-old power or wealth, and the USA isn't the size of India or China yet is #1 in terms of GDP despite once being a colony of the UK and with, therefore, noe of the lengthy history.
Per head of population we surely lead the world in creativity, from music and literature to motorsport and movie visual effects.
Plus we're the world #1 for animal welfare and we have more five-star teaching institurions than any other country in the world.
You know what?
Are we perfect?
Nope, not by any means.
But we rock!
29-10-2020, 03:54 PM
18
Re: The USA rejects proposed new WTO leader
Originally Posted by Zaphod
->
We are very inventive still. It annoys me greatly when I see the UK derided, either for things like our creativity; our size (ooh er missus!); our supposed inconsequential stature on the global stage etc.
Obviously there remain many here who are ignorant (or dismissive) of this country's not-inconsiderable achievements.
We remain globally #6 in terms of GDP.
Not too shabby for a country ranked #21 in terms of population.
Ahead of us are the USA, China and India who have populations many times the size of our own, plus Japan and Germany - both of whom have been funded in their growth by the us and others post-war while we only finished paying our war debts at the very end of 2006!
Before anybody witters on about our wealth being because of centuries-past plundering - bluntly that is just so much bull. Almost every European country similarly conquered but none retains their centuries-old power or wealth, and the USA isn't the size of India or China yet is #1 in terms of GDP despite once being a colony of the UK and with, therefore, noe of the lengthy history.
Per head of population we surely lead the world in creativity, from music and literature to motorsport and movie visual effects.
Plus we're the world #1 for animal welfare and we have more five-star teaching institurions than any other country in the world.
You know what?
Are we perfect?
Nope, not by any means.
But we rock!
As for the rest, yes indeed. We were and still are a very inventive nation and could be world leaders in many fields except for one thing: our backward-looking and 'woke' politicians. Our do-gooders and greedy lawyers don't help either.
29-10-2020, 04:01 PM
19
Re: The USA rejects proposed new WTO leader
Originally Posted by Bread
->
We should never have allowed China to become a member of the WTO in the first place. Their goods are cheap because they are state funded - against the WTO rules on competition. Similarly Airbus is also state funded by France - against the single market rules of the EU but thats OK (for some reason).
Why shouldn't we encourage our own producers to be state funded? We seem to prefer to finance foreign countries through foreign aid. Well, if it brings us some advantages with trade and alliances, OK, but we should support our own businesses first and foremost. We must make them more competitive if we are to become world leaders again.
29-10-2020, 04:09 PM
20
Re: The USA rejects proposed new WTO leader
Originally Posted by Bread
->
10/10 for that one Zaphod
Originally Posted by JBR
->
I agree, apart from music. Historically, our music output is quite limited compared to other European countries. More recently, of course, we became world leaders when 'pop' music came along in the '60s.As for the rest, yes indeed. We were and still are a very inventive nation and could be world leaders in many fields except for one thing: our backward-looking and 'woke' politicians. Our do-gooders and greedy lawyers don't help either.
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