ITEL: Introduction

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Last updated: September 24, 2024

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Three institutions	World Bank
	International Monetary Fund
	World Trade Organisation
What are the first two referred to as?	Bretton Woods Institutions
When was the WTO founded?	1995
What does GATT stand for	General Agreement on Tariffs and Trade
What are the two main ways to trade in?	Goods
What are the two main ways to trade in?	Services
What was Adam Smith's theory	Comparative production
Name for the approach of states prioritising their self-interests	Protectionism

Main ways to do so?	Quantative restrictions
Main ways to do so?	Tariff
Two main ways of 'agreement' in investment law	Bilateral Investment Treaty (BIT)
Two main ways of 'agreement' in investment law	Treaties with Investment Provisions (TIP)
Protection for foreign investors	Investor-State Dispute Settlement (ISDS)
Functions of WTO	Negotiation forum
	Handle disputes
	Monitor national trade policies
	Aid developing nations