Problem: Traditionally, trade agreements have focused on trade in goods; however, trade in services has become very important, to the point that there is a special agreement for services: the General Agreement on Trade in Services (GATS). GATS opens international competition to services ranging from financial services to trash collection to legal, accounting, and medical services.
Prepare a briefing for Abbie in which you
(a) Explain the current status of GATS including its four modes and
(b) Outline benefits of liberalization and criticisms of it.