i.- Crisis within the GATT;

ii.- U.S.A changes trade policy from multilateralism to regionalism: NAFTA / FTAA;

iii.- First Successes of Mercosul:

a.- Evolution of Trade (20% less in 1st semester of 1999);

b.- Exclusionary Trade or Possible Trade (58% Agriculture).

iv.- Shortcomings:

a.- Intrinsic Fiscal Weakness;

b.- Exchange Regime;

c.- Adverse International Situation.

a.- losers and winners

(36% 64% WB);

b.- Investments; Agriculture; Dumping; Subsidies; Rules; Dispute Resolution System.

i.- The Real Plan, characteristics:

a.- Pillars:

Exchange rate

Interest rate;

b.- Lack of fiscal adjustment.

ii.- The Real Plan Effects

a.- denationalisation;

b.- loss of international competitiveness;

c.- unemployment;

d.- recession;

e.- lower inflation;

f.- greater investments targeting domestic markets;

g.- erosion of domestic currency;

h.- social crisis.

i.- Investment Diversion;

ii.- Economic Discrepancies;

iii.- Currencies and Exchange;

iv.- Troubled sectors: sugar; cars; paper; textiles; poultry; shoes; steel.

i.- The WTO and the involution of trade.

ii.- the Millenium Round.

a.- Social Dumping;

b.- The Multilateral Agreement on Investments;

c.- Environment;

d.- Government purchases;

e.- Electronic Trade;

f.- Agriculture;

g.- Genetically modified foods.