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The Allied nations from the conference proposed the creation of a regulating body to oversee trade as well as money exchange. The ITO was that body. Some of the countries looking at ITO formation were also starting to negotiate rules to govern the trade that would be overseen by the ITO once formed and agreed upon. These rules were called The General Agreement on Tariffs and Trade. The ITO was never formed, primarily due to the United States’ refusal to sign. This left only GATT to govern international trade and tariffs. The preamble to the agreement, excerpted below form the treaty itself, calls all signing nations to work to ensure free trade, reduced tariffs and enhance full employment throughout all of the participatory nations:
“Recognizing that their relations in the field of trade and economic endeavour should be conducted with a view to raising standards of living, ensuring full employment and a large and steadily growing volume of real income and effective demand, developing the full use of …show more content…
Technological improvements have driven once considered American jobs overseas, companies are moving call centers to India, Philippines, Canada and other off-shore locations. Textiles, clothing manufacturing and electronics are no longer produced here. All of these job shifts are blamed in part or in total on the Globalization of our economy.
As technology advanced, and the demand for lower priced goods and services grew, so did the offshore expansion of the labor force. Looking at call center technology for a moment, and we learn that telephone calls can be routed virtually anywhere on the globe. A country like India with billions of people, living in a largely undeveloped nation, provides a workforce pool f eager people, willing to learn, and willing to work cheaply. This drives thousands of jobs once in developed nations to developing nations. As result, wages in the developed nations drop with the loss of the higher, skilled job moving. Companies argue that they are shifting the workforce to maximize efficiencies, but many view this as business speak for saving money by outsourcing
“Recognizing that their relations in the field of trade and economic endeavour should be conducted with a view to raising standards of living, ensuring full employment and a large and steadily growing volume of real income and effective demand, developing the full use of …show more content…
Technological improvements have driven once considered American jobs overseas, companies are moving call centers to India, Philippines, Canada and other off-shore locations. Textiles, clothing manufacturing and electronics are no longer produced here. All of these job shifts are blamed in part or in total on the Globalization of our economy.
As technology advanced, and the demand for lower priced goods and services grew, so did the offshore expansion of the labor force. Looking at call center technology for a moment, and we learn that telephone calls can be routed virtually anywhere on the globe. A country like India with billions of people, living in a largely undeveloped nation, provides a workforce pool f eager people, willing to learn, and willing to work cheaply. This drives thousands of jobs once in developed nations to developing nations. As result, wages in the developed nations drop with the loss of the higher, skilled job moving. Companies argue that they are shifting the workforce to maximize efficiencies, but many view this as business speak for saving money by outsourcing