30 October 1947: The General Agreement on Tariffs and Trade is established

On this day in 1947, the General Agreement on Tariffs and Trade (GATT) was agreed in Geneva – the predecessor of the World Trade Organisation.

US Treasury Secretary Henry Morgenthau Jr. and John Maynard Keynes at Bretton Woods
US Treasury Secretary Henry Morgenthau Jr. and John Maynard Keynes at Bretton Woods
(Image credit: © Alfred Eisenstaedt/Time/ Getty Images)

During the Great Depression of the 1930s, the global economy was in the doldrums. Tariffs and trade barriers began to pop up all over the place. But with the end of the Second World War, many countries found themselves in a more conciliatory mood.

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Chris Carter
Wealth Editor, MoneyWeek

Chris Carter spent three glorious years reading English literature on the beautiful Welsh coast at Aberystwyth University. Graduating in 2005, he left for the University of York to specialise in Renaissance literature for his MA, before returning to his native Twickenham, in southwest London. He joined a Richmond-based recruitment company, where he worked with several clients, including the Queen’s bank, Coutts, as well as the super luxury, Dorchester-owned Coworth Park country house hotel, near Ascot in Berkshire.

Then, in 2011, Chris joined MoneyWeek. Initially working as part of the website production team, Chris soon rose to the lofty heights of wealth editor, overseeing MoneyWeek’s Spending It lifestyle section. Chris travels the globe in pursuit of his work, soaking up the local culture and sampling the very finest in cuisine, hotels and resorts for the magazine’s discerning readership. He also enjoys writing his fortnightly page on collectables, delving into the fascinating world of auctions and art, classic cars, coins, watches, wine and whisky investing.

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