Explain the major problems that occurred with the implementation ...

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Explain the major problems that occurred with the implementation of the SMP.
 
  What will be an ideal response?

Question 2

Which of the following is NOT a true statement about the WTO and the protection of endangered species?
 
  A) The environmental movement has been critical of the WTO.
  B) Under WTO rules, countries have a right to impose import barriers to protect endangered species.
  C) The WTO did not allow the U.S. to protect sea turtles.
  D) GATT rules prohibit discrimination based on the production process used.

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Answer to Question 1

There were problems with restructuring. Less efficient firms are squeezed out, and the more efficient ones grow; overall economic welfare expands as countries concentrate on what they do best, which inevitably means abandoning some industries and expanding others. A second major obstacle was the problem of harmonizing standards. A third difficulty was the issue of value-added taxes (VAT), which were difficult to harmonize, although the differences were reduced. Finally, it has been difficult to eliminate discrimination in public procurement of goods and services.

Answer to Question 2

C