6
Wednesday, December 1, 1993
UNIVERSITY DAILY KANSAN
If my roommate moves out, do I have to pay all the rent?
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DEC.2
"NEWSFLASH"
Dance 2
Trance
Elevate Your MinD & Body
THURSDAY NITE
10:30 pm - 2:00 am
18 and up
show id to drink
$2.00
University of Kansas Allen Fieldhouse
Friday, December
6:00 PM
Jackson State
vs
Central Michigan
8:00 PM
Kansas
vs
Oral Roberts
classified information
The Premier Tournament Series in Women's Collegiate Basketball dial SOAP
Saturday, December 4
4:00 PM
Consolation Game
6:00 PM
Championship Game
Tickets: Adults, $4.00 Single Game, $10.00 Classic Pass
Students (8-18 Years or KU) $3.00 Single
Game, $5.00 Classic Pass
Children (7 years and under) $2.00 Single
Game, $4.00 Classic Pass
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Championship Game
Ticket Office 913-864-3141
By Clare Nullis The Associated Press
Lawmakers struggle to beat GATT deadline
GENEVA — World leaders support it. Business leaders plead for it. American textile workers and French farmers loathe it.
Asingle four-letter word — GATT — is now at the center of a giant world trade debate that could determine the fortunes of nations for years to come.
At stake is an additional $270 billion in annual global income because of increased exports, according to some estimates. The snag? The agreement must be reached by Dec. 15.
ANALYSIS
The General Agreement on Tariffs and Trade is a set of world trade rules. It is also the name of the organization that enforces and updates these rules to let market forces work.
GATT came into being in 1948 as part of an effort to reshape the world economy after the Great Depression and World War II.
it has been fairly successful. A series of GATT accords has cut customs taxes during the past 40 years from about 40 percent to an average 5 percent of the price of an import.
That is good news for exporting countries. They can sell more, which creates more wealth, which creates more jobs, which creates yet more wealth. Consumers in importing countries have a wider variety of products in stores at lower prices — though cheap imports can sometimes threaten domestic producers.
But world trade has changed, and the GATT rules have fallen behind.
Take the case of the family car. The car manufacturer may be a Japanese company, which builds the car in Europe, using components made in several different countries and borrowing money from a U.S. bank.
The current effort to update GATT began in September 1986, when ministers from about 100 countries got together in the Uruguayan seaside
resort of Punta del Este and decided to build a bigger, brighter and better world trading order.
After repeated delays, the talks are hurting toward a Dec. 15 deadline and hundreds of diplomats are locked in long evening bargaining sessions.
The deadline is the last date that President Clinton can submit a finished agreement to Congress on an all-or-nothing basis. If the accord comes later, representatives can pick at individual provisions, stretching out the process.
Since the United States is the world's largest economy, a GATT accord without the United States would be worth nothing.
Special interests are affected everywhere. There will be short-term job losses as previously protected sectors like French farming and American textiles are opened up to foreign competition. In addition, lobbies in dozens of countries are jostling to make their voices heard, so making a deal is more difficult.
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