Korea and the World Trade Organization: Problems and Prospects
AbstractThe World Trade Organization, which came into existence at the conclusion of the Uruguay Round, is in charge of administering a plethora of new trade rules. The main thrust of the new rules is to reduce or abolish tariffs and quotas on a wide range of products. Some tariffs and quotas were abolished immediately, but others will not be abolished, or even reduced, for several years. Unfortunately for Korea, several of Korea's major exports, especially in the area of textiles, will continue to face relatively unfavorable tariffs and quotas for many years to come, partly because of the successful efforts of protectionists to delay the implementation of tariff and quota reductions on these goods. The WTO rules also include some less obvious protectionist measures, most notably in the areas of environmental and labor standards and antidumping. Korean companies stand to be adversely affected by these hidden protectionist measures. This paper discusses some of the potentially adverse effects that WTO rules are likely to have on Korean companies and makes suggestions for reform.
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Bibliographic InfoPaper provided by EconWPA in its series International Trade with number 9805006.
Length: 11 pages
Date of creation: 30 May 1998
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Note: Type of Document - Word 6.0 (Mac); prepared on Macintosh; to print on LaserWriter4/600PS; pages: 11 . This paper was presented at the Fifth International Conference on Korean Studies, International Society for Korean Studies, Osaka, Japan, August, 1997
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Korea World Trade Organization WTO antidumping protectionism;
Find related papers by JEL classification:
- D6 - Microeconomics - - Welfare Economics
- D7 - Microeconomics - - Analysis of Collective Decision-Making
- F1 - International Economics - - Trade
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- K2 - Law and Economics - - Regulation and Business Law
- L5 - Industrial Organization - - Regulation and Industrial Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-1998-10-02 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jeffrey J. Schott, 1994. "Uruguay Round: An Assessment," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 64.
- Francois, Joseph & McDonald, Brad & Nordström, Håkan, 1994. "The Uruguay Round: A Global General Equilibrium Assessment," CEPR Discussion Papers 1067, C.E.P.R. Discussion Papers.
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