Define That Term #310
January 25, 2009
Last week's term was G.A.T.T., which is defined as:
General Agreement on Tariffs and Trade-A comprehensive free-trade treaty signed in 1947 by 117 nations,
including almost every developed country. The goal of GATT has been to
promote global economic growth by encouraging and regulating world
trade. Among other things, member countries are required to treat all
other member countries equally in the application of import and export
tariffs, offer basic copyright protection to authors from member countries, consult with each other
about trade matters and attempt to resolve differences in a peaceful
manner. GATT created an international regulatory body known as the
World Trade Organization (WTO) to enforce compliance with the
agreement.
Edward Wiest and Elaine Necht got it right!
This week's term is:
pur autre vie.
As always, no dictionaries.
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