The Banana Wars

Paper Summary:

Analysis of the international trade dispute of the 1990s. How trade wars progress. The difficulty of achieving international agreements and enforcement. Long-term ramifications of trade policy. Examines the underlying ussues of the Banana Wars. How an agreement was reached, and impediments to implementing it. Effects of agreement on the banana industry.

From the Paper:

"Introduction
Although the globalization of trade has opened up new markets for many companies, and provided the opportunity for diversification that has provided companies with some insulation during economic downturns, international trade does not always progress smoothly. Single countries can impose trade barriers to protect their own industries or in retaliation for barriers in other markets, and entire countries can join together to create cartels (such as the OPEC) or trading blocs (NAFTA and the EU, for example) that provide specific benefits to members. The World Trade Organization (WTO) evolved from the General Agreement on Tariffs and Trade (GATT) and has recently been tested as an arbiter of international dispute. The so-called banana wars of the 1990s provide an example of how trade wars progress, how ..."

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