International Trade

China holds the credit of being the manufacturer of the world hence any show in China international exhibition center is certain to be a success. The center hosts business shows round the year and each show is dedicated to specific businesses. Companies, manufacturers and suppliers from across the world keep track of the Beijing business centers activities so that not a single show is missed.

This center has its website that it uses for spreading information about the shows. For authentic information, you can visit its website and in this way keep track of the shows that interest you most. Another way of drawing information on the trade fairs is reading leading Chinese newspapers or keeping track of international business news. There are many ways in which you can stay informed regarding the trade fairs being organized by the said center.

The most convenient way to get information on the shows being organized in the China center is getting emails. There are websites that provide reliable information on trade fairs organized at international platforms. These sites offer many services to their visitors. For instance you can get information regarding trade fairs of your interest through emails. Also you can book booths and buy tickets from the sites.

China International Exhibition Center is planning various trade fairs in the coming months. There are fairs on auto accessories electronics, content broadcasting and on other interesting sectors. Information regarding the shows is readily available on the centers website and also you have an opportunity to get information through emails.

Locate a credible website that provides information on international trade fairs. Join the site and get email alerts regarding the shows of your interest. An ideal website would serve you in different ways like providing you an opportunity to book a booth and buy tickets in advance. China international exhibition center is a large facility with space for many business booths but to get a booth at a prime location, you have to book early.

It is not necessary to book a booth, if you just want to participate in an event and get acquainted with the products displayed. Thousands of firms are working for a show of strength in the much awaited trade fairs at China international exhibition center. By visiting the center, you can introduce yourself to the business world. To make sure that you are there at the show right on time, book your tickets to the show in advance.

Frequently Asked Questions

  1. QUESTION:
    what is international trade?
    international tdoarade , r

    • ANSWER:
      International trade is exchange of capital, goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. International trade is a major source of economic revenue for any nation that is considered a world power. Without international trade, nations would be limited to the goods and services produced within their own borders.

      International trade is in principle not different from domestic trade as the motivation and the behavior of parties involved in a trade does not change fundamentally depending on whether trade is across a border or not. The main difference is that international trade is typically more costly than domestic trade. The reason is that a border typically imposes additional costs such as tariffs, time costs due to border delays and costs associated with country differences such as language, the legal system or a different culture.

      Another difference between domestic and international trade is that factors of production such as capital and labor are typically more mobile within a country than across countries. Thus international trade is mostly restricted to trade in goods and services, and only to a lesser extent to trade in capital, labor or other factors of production. Then trade in good and services can serve as a substitute for trade in factors of production. Instead of importing the factor of production a country can import goods that make intensive use of the factor of production and are thus embodying the respective factor. An example is the import of labor-intensive goods by the United States from China. Instead of importing Chinese labor the United States is importing goods from China that were produced with Chinese labor. International trade is also a branch of economics, which, together with international finance, forms the larger branch of international economics.

  2. QUESTION:
    international trade?
    what are the pros of tariffs and protectionist trade measures on international business

    • ANSWER:
      International trade is the exchange of goods and services across international boundaries or territories. In most countries, it represents a significant share of GDP. While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system.
      Increasing international trade is crucial to the continuance of globalization. International trade is a major source of economic revenue for any nation that is considered a world power. Without international trade, nations would be limited to the goods and services produced within their own borders.

      International trade is also a branch of economics, which, together with international finance, forms the larger branch of international economics.

      Traditionally trade was regulated through bilateral treaties between two nations. For centuries under the belief in Mercantilism most nations had high tariffs and many restrictions on international trade. In the 19th century, especially in Britain, a belief in free trade became paramount. This belief became the dominant thinking among western nations since then despite the acknowledgement that adoption of the policy coincided with the general decline of Great Britain. In the years since the Second World War, controversial multilateral treaties like the GATT and World Trade Organization have attempted to create a globally regulated trade structure. These trade agreements have often resulted in protest and discontent with claims of unfair trade that is not mutually beneficial.

      Free trade is usually most strongly supported by the most economically powerful nations, though they often engage in selective protectionism for those industries which are strategically important such as the protective tariffs applied to agriculture by the United States and Europe. The Netherlands and the United Kingdom were both strong advocates of free trade when they were economically dominant, today the United States, the United Kingdom, Australia and Japan are its greatest proponents. However, many other countries (such as India, China and Russia) are increasingly becoming advocates of free trade as they become more economically powerful themselves. As tariff levels fall there is also an increasing willingness to negotiate non tariff measures, including foreign direct investment, procurement and trade facilitation. The latter looks at the transaction cost associated with meeting trade and customs procedures.

      Traditionally agricultural interests are usually in favour of free trade while manufacturing sectors often support protectionism. This has changed somewhat in recent years, however. In fact, agricultural lobbies, particularly in the United States, Europe and Japan, are chiefly responsible for particular rules in the major international trade treaties which allow for more protectionist measures in agriculture than for most other goods and services.

      During recessions there is often strong domestic pressure to increase tariffs to protect domestic industries. This occurred around the world during the Great Depression. Many economists have attempted to portray tariffs as the underlining reason behind the collapse in world trade that many believe seriously deepened the depression.

      The regulation of international trade is done through the World Trade Organization at the global level, and through several other regional arrangements such as MERCOSUR in South America, NAFTA between the United States, Canada and Mexico, and the European Union between 27 independent states. The 2005 Buenos Aires talks on the planned establishment of the Free Trade Area of the Americas (FTAA) failed largely due to opposition from the populations of Latin American nations. Similar agreements such as the MAI (Multilateral Agreement on Investment) have also failed in recent years.

  3. QUESTION:
    How does international trade increase economic growth?

    • ANSWER:
      International trade increases economic growth and welfare, because:

      1) In many cases domestic market is relatively small and economies of scale cannot be fully exploited. Trade "expands" the domestic market and so improves effectiveness in the economy.

      2) Trade fosters specialisation and this further improves the effectiveness.

      3) Trade often stimulates diffusion of new technologies and innovations. New technologies and innovations not only improve the overall effectiveness of production, but also improve standard of living of people.

      4) Through trade many countries in the world can obtain various resources like oil or iron ore. Without resources there can be basically no production and no growth.

      5) Trade stimulates competition between companies and again there is more effectiveness in the economy.

      6) If there was no (possibility of) trade, many companies would not invest abroad. For example, let us assume that there are two countries - A and B. Labour costs are smaller in B than in A. If there are no barriers to trade between these countries, a company X from the country A can built a labour intensive production workshop in the country B and then export its products back to its home country (A). Country B benefits because of this investment (for instance unemployment drops and people have more disposable income - increase in demand). Country A might (but doesn't necessarily have to) lose in this situation. In our case, much depends on the situation on its labour market - if there is unemployment or maybe no available work force. Still, I think it cannot be denied that economic growth would speed up in the country B.

      7) Expanding point 6: investments are interlinked with capital flows. If the country A had capital in abundance and the country B had capital shortages, investment and trade are beneficial for the country B.

      8) Trade creates links and encourages cooperation between countries. This is good because it improves economic performance and growth. In some cases trade can lead to a deeper economic integration and even (theoretically speaking) establishment of a monetary union, which, under certain conditions, can further improve economic growth.

      9) Since trade is beneficial (points 1-8 above), there are good chances that overall welfare in a given country will be improved. The better the welfare, the more happy and healthy the people, and this translates into better performance at work and further improvements in growth.

      Hm. I cannot think of anything more at the moment. Hope that this helps :)

  4. QUESTION:
    What are the advantages and limitations of International Trade?

    • ANSWER:
      International trade is essential to any economy. Of all the developed countries, the U.S. has the smallest percentage of its economy connected to international trade and even so, the U.S imported about .0 trillion and exported about .1 trillion out of a total GDP of about .8 trillion. For other countries, the importance of trade is much greater.

      It was the action of Congress in cutting off international trade that made the Great Depression "great"
      http://en.wikipedia.org/wiki/Smoot-Hawley_Tariff_Act

      As for "limitations", I'm not sure I understand the question. Clearly, some goods and services have to be local.

      As the Smoot-Hawley tariff and various similar attempts t regulating trade have shown, you can't pick and choose when it comes to trade. If you are going to take advantage of the benefits, you have to pay the costs (such as outsourcing to countries with cheaper labor etc.)

      Also, no government likes to give up even an iota of control, yet international trade implies treaties.

  5. QUESTION:
    what is international trade?
    HOMEWORK
    :)
    just need a good definition,
    thanks a bundle TEDDD.
    lond definition plzzzzzz :)
    long haha
    :S
    long haha
    :S

    • ANSWER:
      International trade is the exchange of capital, goods and services across international boundaries or territories.[1 In most countries, it represents a significant share of GDP. While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. International trade is a major source of economic revenue for any nation that is considered a world power. Without international trade, nations would be limited to the goods and services produced within their own borders.

  6. QUESTION:
    What is international trade?

    • ANSWER:
      International trade is exchange of capital, goods, and services across international borders or territories.[1] In most countries, it represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries.

      Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. Without international trade, nations would be limited to the goods and services produced within their own borders.

  7. QUESTION:
    classical theory of international trade?
    classical theory of international trade?

    • ANSWER:
      The Classical theory of international trade is given by Adam Smith and
      David Ricardo. The theory explains the condition of international trade
      specialization and benefits of trade.According to the theory international trade is a case of geographical
      speculation. Different countries have different set of resources. In this
      process a country may have more of a resource. The abundance of a
      resource gives cost advantage in the production of a commodity. The cost
      advantage is the basic of specialization and international trade.Assumptions:1. The theory of international trade is based on the labor theory of value. With this, value of any product can be explained in term of labor units.2. It is a 2x2 model, 2 countries and 2 commodities.
      3. The theory assumes barter system of exchange.
      4. It is a case of free trade without any restriction from either country.
      5. No transport cost.
      6. Perfect competition and full employment.
      7. Factors of production are perfectly mobile within a country and immobile between countries.The classical theory of international trade is explained is 3 parts -
      i. Absolute Cost Advantage
      ii. Equal Cost Advantage
      iii. Comparative Cost Advantage.1. Absolute Cost Advantage:-Given 2 countries, Portugal and England, international trade can take place
      when there is a clear-cut cost advantage. However, trade can take place
      even in absence of absolute cost advantage.
      Trade can take place when the domestic exchange rates are different.Wine Cloth Domestic Exchange Rate

  8. QUESTION:
    international trade?
    when is international trade an opportunity for workers? and when is a treat to workers?

    also what are some of the major challenges confronting the international trading system?

    • ANSWER:
      International trade is an opportunity for workers when they get a chance to work abroad in order to earn in foreign currency which could provide them many facilities they may require.
      And international trade is a treat to workers when there is an increase in the export, where they need to work extra for which they r earning more by working extra, getting foreign exchange for their nation's reserves and globally a recognition.

      And challanges could be, you need to be produtive, input shud be less and output shud be higher. quality wise product shud be acceptable and do not ignore ure international competitors so maintain the packaging,intermediaries,channels,agents,contacts,quality,promisory notes etc...

  9. QUESTION:
    What are the reasons for international trade?

    • ANSWER:
      International trade is not only necessary to build alliances (which can be a byproduct of international trade), but because no one country is self sufficient, having all the resources (natural, property, intellectual) necessary to make a product. For example, let's say Canada has better soil and better agricultural technology needed to produce corn than any country in the world, so they can produce more corn at the lowest cost, thus selling it for at the lowest price. They have a competitive advantage over other nations. Japan has a competitive advantage over Canada in the computer industry. And the US has a competitive advantage in the auto industry.
      Each country could, technically, produce corn, computers and cars. However, those country without the competitive advantage lack the necessary resources and would pay a much higher price to produce these things on their own than they would to just import the completed good from one of the other countries.
      If Japan needs corn, they would trade with Canada, who needs computers. If the US needs computers and Japan needs cars, they would trade.
      Hope that helped.

  10. QUESTION:
    What is meant by International Trade Agreement?
    Thank you very much!

    • ANSWER:
      International trade agreements are complex laws and regulations governing the trade relationships between countries and groups of countries. These trade pacts spell out tariffs and other trade impediments ensuring freer trade between and among the countries involved in the agreement. Hence, you have trade agreements that lower trade quotas or decreases tariff rates or increasing exports/imports of particular items from the agreements' signatories

      There are 3 different types of international trade agreements:

      - Bilateral trade agreements = trade agreement between two countries such as USA-Australia trade agreement http://www.dfat.gov.au/trade/negotiations/us.html
      - Multilateral arrangements such as the World Trade Organization agreements and GATT
      - Regional trade agreements such as NAFTA (US, Mexico and Canada) and MERCOSUR (Brazil, Argentina, Uruguay, Venezuela, and Paraguay)

  11. QUESTION:
    International trade?
    to define and give brief details
    what is international trade what are the basic concepts and foundations that cover it. what are the benefits advantages, disadvantages, or why it is necessary?

    • ANSWER:
      International trade or commonly called global trade is a trading activity that involves several people in different countries. This is one of the influences from globalization. People start think and do everthing globally, internationally. Actually people have been doing export import many years ago and that can be considered as international trade too. But recently, as the effect of globalization, people getting more active about it as they more aware that global market can give more profit to their business than if they just do the business locally.

  12. QUESTION:
    What is international trade and what are its salient features?

    • ANSWER:
      International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history , its economic, social, and political importance has been on the rise in recent centuries.If you walk into a supermarket and are able to buy South American bananas, Brazilian coffee and a bottle of South African wine, you are experiencing the effects of international trade.

      International trade allows us to expand our markets for both goods and services that otherwise may not have been available to us. It is the reason why you can pick between a Japanese, German or American car. As a result of international trade, the market contains greater competition and therefore more competitive prices, which brings a cheaper product home to the coins

      What Is International Trade?
      International trade is the exchange of goods and services between countries. This type of trade gives rise to a world economy, in which prices, or supply and demand, affect and are affected by global events. Political change in Asia, for example, could result in an increase in the cost of labor, thereby increasing the manufacturing costs for an American sneaker company based in Malaysia, which would then result in an increase in the price that you have to pay to buy the tennis shoes at your local mall. A decrease in the cost of labor, on the other hand, would result in you having to pay less for your new shoes.

  13. QUESTION:
    globalization process?
    what is international trade?

    • ANSWER:
      International trade is the exchange of goods and services across international boundaries or territories. In most countries, it represents a significant share of GDP. While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact. Increasing international trade is the usually primary meaning of "globalization".
      International trade theory
      Several different models have been proposed to predict patterns of trade and to analyze the effects of trade policies such as tariffs.
      Ricardian model
      The Ricardian model focuses on comparative advantage and is perhaps the most important concept in international trade theory. In a Ricardian model, countries specialize in producing what they produce best. Unlike other models, the Ricardian framework predicts that countries will fully specialize instead of producing a broad array of goods. Also, the Ricardian model does not directly consider factor endowments, such as the relative amounts of labor and capital within a country.
      Heckscher-Ohlin model
      The Heckscher-Ohlin model was produced as an alternative to the Ricardian model of basic comparative advantage. Despite its more complex and accurate predictive power, it also had an ideological mission: the elimination of the labor theory of value and the incorporation of the neoclassical price mechanism into international trade theory. The theory argues that the pattern of international trade is determined by differences in factor endowments. It predicts that countries will export those goods that make intensive use of locally abundant factors and will import goods that make intensive use of factors that are locally scarce.
      Gravity model
      The Gravity model of trade presents a more empirical analysis of trading patterns rather than the more theoretical models discussed above. The gravity model, in its basic form, predicts trade based on the distance between countries and the interaction of the countries' economic sizes. The model mimics the Newtonian law of gravity which also considers distance and physical size between two objects. The model has been proven to be empirically strong through econometric analysis. Other factors such as income level, diplomatic relationships between countries, and trade policies are also included in expanded verisions of the model.
      Regulation of international trade
      Traditionally trade was regulated through bilateral treaties between two nations. For centuries under the belief in Mercantilism most nations had high tariffs and many restrictions on international trade. In the 19th century, especially in Britain, a belief in free trade became paramount and this view has dominated thinking among western nations for most of the time since then. In the years since the Second World War multilateral treaties like the GATT and World Trade Organization have attempted to create a globally regulated trade structure.
      Communist and socialist nations often believe in autarky, a complete lack of international trade. Fascist and other authoritarian governments have also placed great emphasis on self-sufficiency. No nation can meet all of its people's needs, however, and every state engages in at least some trade.
      Free trade is usually most strongly supported by the most economically powerful nation in the world. The Netherlands and the United Kingdom were both strong advocates of free trade when they were on top, today the United States, the United Kingdom and Japan are its greatest proponents. However, many other countries - including several rapidly developing nations such as India, China and Russia - are also becoming advocates of free trade.
      Traditionally agricultural interests are usually in favour of free trade while manufacturing sectors often support protectionism. This has changed somewhat in recent years, however. In fact, agricultural lobbies, particularly in the United States, Europe and Japan, are chiefly responsible for particular rules in the major international trade treaties which allow for more protectionist measures in agriculture than for most other goods and services.
      During recessions there is often strong domestic pressure to increase tariffs to protect domestic industries. This occurred around the world during the Great Depression leading to a collapse in world trade that many believe seriously deepened the depression.
      The regulation of international trade is done through the World Trade Organization at the global level, and through several other regional arrangements such as MERCOSUR in South America, NAFTA between the United States, Canada and Mexico, and the European Union between 25 independent states. The 2005 Buenos Aires talks on the planned establishment of the Free Trade Area of the Americas (FTAA), which would have provided common standards for almost all countries in the American continent, failed.
      Risks in international trade
      The risks that exist in international trade can be divided into two major groups:
      Economic risks
      * Risk of insolvency of the buyer,
      * Risk of protracted default - the failure of the buyer to pay the amount due within six months after the due date, and
      * Risk of non-acceptance
      * Surrendering economic sovereignty
      Political risks
      * Risk of cancellation or non-renewal of export or import licences
      * War risks
      * Risk of expropriation or confiscation of the importer's company
      * Risk of the imposition of an import ban after the shipment of the goods
      * Transfer risk - imposition of exchange controls by the importer's country or foreign currency shortages
      * Surrendering political sovereignty

  14. QUESTION:
    International Law on trade?
    Are the any INTERNATIONAL laws that regulate exporting and importing from one country to another? For example from the EU to the US? I am not very sure if the International Sale of Good Act does this.

    And also is it possible for a car manufacturing company to get intellectual property on a car? Like on the design of a car or certain components of a car?

    • ANSWER:
      International Sale of Goods Act is like a Uniform Commercial Code for international private contracts or partial private contracts.

      Trade between nations is regulated by compacts, trade agreements, conventions, treaties, and other nation-to-nation agreements.

      Several of these might be GATT, URTA, and so forth.

      Trade is also regulated by national laws as to what kinds of goods can be imported or exported. For instances imports of machine guns and exports of sensitive technology. In addition to that, trade is regulated by tariffs, import taxes and customs laws.

      So the answer to the first part is "no" the International Sale of Goods Act doesn't cover actual trade between nations as to export and import, etc.

      As for the 2nd part of your question. Intellectual property rights in a design will generally be recognized provided, however that the nations involved all have some sort of reciprocal intellectual property law to enforce those rights. Most EU countries do have it, I think Russia does, and maybe even China. But other countries have no such laws.

      The same applies to components.

      In some instances, a design must be patented in one country before it can be patented in others to make it valid across a broad spectrum of countries.

  15. QUESTION:
    Evaluate the significance of The World Trade Organization to international trade.?

    • ANSWER:
      The World Trade Organization (WTO), ( is an international organization designed to supervise and liberalize international trade. The WTO came into being on January 1, 1995, and is the successor to the General Agreement on Tariffs and Trade (GATT), which was created in 1947, and continued to operate for almost five decades as a de facto international organization. WTO deals with the rules of trade between nations at a near-global level; it is responsible for negotiating and implementing new trade agreements, and is in charge of policing member countries' adherence to all the WTO agreements, signed by the bulk of the world's trading nations and ratified in their parliaments.Most of the WTO's current work comes from the 1986-94 negotiations called the Uruguay Round, and earlier negotiations under the GATT. The organization is currently the host to new negotiations, under the Doha Development Agenda (DDA) launched in 2001.The WTO is governed by a Ministerial Conference, which meets every two years; a General Council, which implements the conference's policy decisions and is responsible for day-to-day administration; and a director-general, who is appointed by the Ministerial Conference. The WTO's headquarters are in Geneva, Switzerland.
      The GATT still exists as the WTO's umbrella treaty for trade in goods, updated as a result of the Uruguay Round negotiations (a distinction is made between GATT 1994, the updated parts of GATT, and GATT 1947, the original agreement which is still the heart of GATT 1994).[13] The GATT 1994 is not however the only legally binding agreement included in the Final Act; a long list of about 60 agreements, annexes, decisions and understandings was adopted. In fact, the agreements fall into a simple structure with six main parts:
      an umbrella agreement (the Agreement Establishing the WTO);
      agreements for each of the three broad areas of trade that the WTO covers: goods and investment (the Multilateral Agreements on Trade in Goods including the GATT 1994 and the TRIMS), services (GATS), and intellectual property (TRIPS); dispute settlement (DSU); and
      reviews of governments' trade policies (TPRM).The WTO launched the current round of negotiations, the Doha Development Agenda (DDA) or Doha Round, at the Fourth Ministerial Conference in Doha, Qatar in November 2001. The Doha round was to be an ambitious effort to make globalisation more inclusive and help the world's poor, particularly by slashing barriers and subsidies in farming. The initial agenda comprised both further trade liberalization and new rule-making, underpinned by commitments to strengthen substantially assistance to developing countries.The talks have been highly contentious and agreement has not been reached, despite the intense negotiations at Fifth Ministerial Conference in Canc n in 2003 and at the Sixth Ministerial Conference in Hong Kong on December 13 - 18, 2005. On July 24, 2006, at the end of yet another futile gathering of trade ministers in Geneva, Pascal Lamy, the WTO's Director-General, formally suspended the negotiations. Nevertheless, in his report to the WTO General Council on February 7, 2007, Lamy said that "political conditions are now more favorable for the conclusion of the Round than they have been for a long time". He then added that "political leaders around the world clearly want us to get fully back to business, although we in turn need their continuing commitment".
      The WTO is too often misunderstood, sometimes genuinely, often wilfully. We need to put our case better. We also have to listen to our critics more. They are not always wrong. At the moment, we are working on a package to help the world's poorest countries reap greater benefits from the world trading system. This package includes better access to rich-country markets, increased technical assistance, and closer co-operation between the WTO and other global institutions that promote development, notably the World Bank. And we are trying to make the WTO's work even more accessible to the man and woman in the street. We are constantly improving our website, www.wto.org, so that it offers an even greater wealth of information.
      WTO's mandate of opening up markets represents an essential contribution to the development of so many human beings on our planet. Favouring sustainable development strategies that take into consideration the individual and collective interests of all will contribute to humanising globalization.
      The impact of the World Trade Organisation (WTO), established in 1995, has gone largely unnoticed by the majority of politicians, NGOs and citizens. Trade, however, is an important aspect of the current wave of globalisation and its influence is felt from the global level to peoples' daily practices.
      The WTO replaced the better known GATT (General Agreements on Tariffs and Trade) which was itself a far cry from the originally planned International Trade Organisation (ITO). The ITO was to be created after the second World War as the third pillar of the Bretton Woods system and was meant to take an integrated approach to many trade related matters: securing full employment, reducing tariffs which stand in the way of economic growth, protecting workers' rights, preventing undue domination and manipulation by big companies (competition policy), assisting weaker economies in gaining access to capital and technology, and managing commodity trade.
      The WTO was established with a far more limited mission:
      enforcing the trade contracts negotiated in the Uruguay Round (1986-1994) among the member countries (132 by end September 1997), and
      continuing negotiations on trade and investment rules and liberalisation of trade in agricultural and manufactured goods, the services sector (e.g. consultancies, tourism) and investment.
      But many of the matters the Ministerial Conference, the highest decision-making body of the WTO, had to contend with at its initial meeting in Singapore in December 1996 were ITO issues left out of the WTO: passionate discussions on whether the WTO should deal with labour rights; calls for technical and financial assistance for the least developed countries (LLDCs); and new WTO discussion groups on the issues of competition policy and multilateral investment rules.
      As in the draft ITO, the WTO has to cooperate with the World Bank and the IMF 'with a view to achieving greater coherence in global economic policy-making'. Cooperation agreements between the WTO, the World Bank and the IMF have been signed but there is no high level macro-economic co-ordinating mechanism to deal with debt, trade imbalances and budget deficits - all obstacles to weaker economies benefiting from world trade. Co-operation seems to occur mostly at the operational and country level such as exchanging information and expertise at meetings and among officials (e.g. on balance of payment problems of a particular country). Recently, the World Bank and the IMF have been involved in efforts to coordinate technical assistance for each of the LLDCs (see below). Such co-operation increases the danger of joint conditionality towards total free trade in developing countries.
      The ministers at their Conference in Singapore envisaged 'a world where trade flows freely'. The WTO is considered instrumental for furthering globalisation, a process which the ministers and trade officials claim has the capacity to increase economic growth and employment... and 'help put a telephone in every village - something that can make the difference between life and death' (WTO Director General's opening speech in Singapore).The preamble of the WTO states that trade relations should contribute to raising standards of living, ensuring full employment, increasing income, and expanding production and trade while respecting the environment and the different needs of the member countries at different levels of economic development. But the WTO has no instruments to advance or assess its concrete contribution to these objectives:
      The Singapore Ministerial Conference only reviewed how countries were able (or not, as was the case for many least developed countries) to apply the new WTO rules, not how many jobs were created, or lost, or how to deal with negative effects on developing countries.
      The Ministers declared that respect of basic labour rights was the domain of the International Labour Organisation (ILO) and not the WTO. They did not commit to making WTO rules environmentally friendly. They had no means for addressing concerns of developing countries.
      New agreements are being pushed through, such as on liberalising information technology products, in the interest of the US and the EU on the assumption that cheaper prices increase economic growth, without an assessment of the impact on employment and on developing countries.
      The WTO's Trade Policy Review Mechanism (TPRM) does not evaluate the impact of its rules on workers, consumers, peoples lives and sustainable development. TPRM is biased towards ensuring implementation of WTO rules, trade liberalisation and enhancing trade. In 1997, the ICFTU produced parallel reports on the link between trade, trade policy, repression of labour rights and gender discrimination, but discussion of these findings was dismissed by the TPRM Committee. Furthermore, trade policy-makers and WTO staff lack the capacity and interest to incorporate gender analysis in the TPRM.
      The WTO's basic assumption is that its rules contribute to trade and investment liberalisation which leads to more competition, better allocation of resources, economic growth, more employment and better living standards, including environmental conservation. Although the WTO, and GATT in the past, have incorporated special measures for weaker economies, there are many pitfalls in the current system.
      The WTO considers the distribution of the benefits of trade to be not a matter for the WTO but for each country individually. Many facts and figures show, however, that the current global economic and trade system incorporates an unequal distribution of benefits. UNCTAD reports calculated how liberalisation and globalisation not only widen the gap between rich and poor countries but also increase income inequality within countries:
      inequalities between skilled and unskilled workers are growing in the North as well as in the South; corporate restructuring, labour shedding and wage repression are on the rise;
      profit shares and the return on capital has risen much more (from 12.5% in the early 1980s to 16% in the mid 1990s in G7 countries ) than wages in manufacturing;
      the concentration of national income and higher company profits have not been invested so as to create more jobs;
      the benefits of liberalisation have been mainly reaped by traders rather than by farmers who have not received better prices for their export crops relative to border prices.
      These distributional problems cannot be revealed by trade information covering country and product statistics and government (free) trade policies. Trade figures need to give information on the actual trade operators, the companies, especially those which have been pushing for globalisation and lobbying hard for the Uruguay Round to finish. These multinationals cover most of the world's commodity trade, investment and intellectual property rights (see TRIPs below). 40% of world trade concerns trade within multinationals and around a third of world trade relates to trade among multinationals. More information on workers, consumers and companies might help the WTO meet its original aims.
      At the Singapore Ministerial conference many euphoric statements were made about the achievements of globalisation and the WTO's contribution to this process. Globalisation is not only the result of technical innovations, capital concentration, the geographic spread of production processes and other company strategies to improve profit-making worldwide 24 hours a day. Political decisions by governments to remove institutional barriers to international trade and capital flows and to provide incentives for companies have also supported the globalisation process: at national level through unilateral liberalisation and structural adjustment for export-led growth, and through labour and social policy reform; at regional and multilateral levels, through agreements on trade and investment liberalisation.
      The WTO is the most important regulator of trade at international level and also sets the terms within which regional agreements can be signed. In this way, globalisation is managed at world level from a trade perspective.
      The significance of the WTO for globalisation is that more than 130 countries must jointly open up their economies to each other and abide by common rules making it easier to trade and invest. The WTO also brings a wide range of economic sectors into the ambit of the global economy.
      WTO members have to implement a series of agreements and obligations which they negotiated in the Uruguay Round:
      the agreement on trade in goods:
      tariff cuts and liberalisation of industrial products;
      liberalisation of textile and clothing imports in the industrialised countries over 10 years;
      reform of trade and domestic policies in agriculture with some reduction in government export subsidies;
      prohibition of conditionality on investment measures that restrict trade (Trade Related Investment Measures-TRIMs);
      tightened rules on subsidies, safeguard measures (which allow a country to halt imports if an industry is in danger) and anti-dumping (against sales below production cost).
      the agreement on trade in services (GATS):
      a series of obligations such as making information on laws that concern services easily accessible (transparency);
      market access and application of the GATS obligations to foreign companies in the service sectors selected by a given country from a list.
      the agreement on trade related intellectual property rights (TRIPs): inforcement in all WTO member countries, during a specified period, of copyrights, trademarks, industrial designs, patents, trade secrets, etc. registered in one of the member countries.
      The WTO continues to broaden its reach as a forum for continuing negotiations on liberalisation and rule-making. Many of the above agreements included the timing for new negotiations: Agreements were reached in Singapore to eliminate duties on information technology products (e.g. computers, fax machines) and to give an additional 400 pharmaceutical products duty free access in some countries.
      Negotiations to liberalise trade in basic telecommunications were concluded early 1997. Further liberalisation of financial services (e.g. banking, insurance companies) is to be decided by the end of 1997.
      New WTO working groups are exploring future multilateral agreements on investment and competition policy.
      Art. 27.3 (b) of the TRIPs agreement, providing for exceptions on patenting of life forms, has to be reviewed by the end of 1998. Further market reform of farm trade and production is due to start by the end of 1999. The Singapore Ministerial Conference decided on a preparatory 'exchange of information' in the meanwhile. New negotiations on services (GATS) and TRIMs must begin by 1 January 2000.
      The WTO makes an important contribution to globalisation by covering so many sectors and allowing greater interaction of national economies, foreign direct investment and capital markets.
      The WTO is a small governance system where we already have a few elements in place: we have a multilateral system that recognizes different values, including a consensus on the benefits resulting from market opening, but also other values such as the need to respect religion or the right to protect the environment and it is now clearly recognized that non-trade values can supersede trade considerations in some circumstances. We have a system that is based on state and government but which has been able to adapt to take into account new actors on the international scene; and we have a system that has a powerful mechanism to solve disputes.
      But the international trade system and the WTO are far from being perfect and many things could be improved. For the opening up of markets to produce real benefits in the everyday lives in the countries concerned we need rules that provide for a level playing field, that ensure capacity building, and that enable Members to improve their domestic governance.
      But while the opening up of markets stimulated by the WTO has the potential to produce benefits for many, it also has its costs, whose distribution is largely beyond the WTO's control.
      We cannot ignore the costs of adjustment, particularly for the developing countries, and the problems that can arise with the opening up of markets. These adjustments must not be relegated to the future: they must be an integral part of the opening-up agenda. We must create a new Geneva consensus : a new basis for the opening up of trade that takes into account the resultant cost of adjustment. Trade opening is necessary, but it is not sufficient in itself. It also implies assistance: to help the least-developed countries to build up their stocks and therefore adequate productive and logistical capacity; to increase their capacity to negotiate and to implement the commitments undertaken in the international trading system; and to deal with the imbalances created between winners and losers from trade opening imbalances that are the more dangerous to the more fragile economies, societies or countries. Building the capacity they need to take advantage of open markets or helping developing countries to adjust is now part of our common global agenda.
      Part of this challenge falls under the WTO; but the WTO's core role is trade opening, we lack the institutional capacity to formulate and lead development strategies. The challenge to humanise globalization necessarily involves other actors in the international scene: IMF/WB and the United Nations family.

  16. QUESTION:
    discuss the importance of international trade?
    discuss the importance of international trade, economic integration and global markets to the uk business

    • ANSWER:
      The buying and selling of goods and services across national borders is known as international trade. International trade is the backbone of our modern, commercial world, as producers in various nations try to profit from an expanded market, rather than be limited to selling within their own borders. There are many reasons that trade across national borders occurs, including lower production costs in one region versus another, specialized industries, lack or surplus of natural resources and consumer tastes.

      One of the most controversial components of international trade today is the lower production costs of developing nations. There is currently a great deal of concern over jobs being taken away from the United States, member countries of the European Union and other developed nations as countries such as China, Korea, India, Indonesia and others produce goods and services at much lower costs. Both the United States and the European Union have imposed severe restrictions on imports from Asian nations to try to stem this tide. Clearly, a company that can pay its workers the equivalent of dollars a day, as compared to dollars an hour, has a distinct selling advantage. Nevertheless, American and European consumers are only too happy to lower their costs of living by taking advantage of cheaper, imported goods.

      Even though many consumers prefer to buy less expensive goods, some international trade is fostered by a specialized industry that has developed due to national talent and/or tradition. Swiss watches, for example, will never be price-competitive with mass produced watches from Asia. Regardless, there is a strong market among certain consumer groups for the quality, endurance and even snob appeal that owning a Rolex, Patek-Philippe or Audemars Piguet offers. German cutlery, English bone China, Scottish wool, fine French silks such as Hermes and other such products always find their way onto the international trade scene because consumers in many parts of the world are willing to foster the importation of these goods to satisfy their concept that certain countries are the best at making certain goods.

      One of the biggest components of international trade, both in terms of volume and value of goods is oil. Total net oil imports in 2005 are over 26 million barrels per day (U.S. Energy Information Administration figures) (Note: Imports include crude oil, natural gas liquids, and refined products.) At a recent average of per barrel, that translates to billion, three hundred million, PER DAY. The natural resources of a handful of nations, most notably the nations of OPEC, the Organization of Petroleum Exporting Countries, are swept onto the international trade scene in staggering numbers each day, and consumer nations continue to absorb this flow. Other natural resources contribute to the movement of international trade, but none to the extent of the oil trade. Diamonds from Africa, both for industrial and jewelry use, wheat and other agricultural products from the United States and Australia, coal and steel from Canada and Russia, all flow across borders from these nations that have the natural resources to the nations that lack them.

      Despite complaints about trade imbalances, effects on domestic economies, currency upheavals, and loss of jobs, the reality of goods and services continually crossing borders will not go away. International trade will continue to be the engine that runs most nations.

      (*.*)

  17. QUESTION:
    What is the difference between international trade, international business and international economics?
    pls give detailed differences

    • ANSWER:
      International trade is the trade between two or more different countries. It is just the opposite of the trade that takes place within a country i.e. national trade. Middle Eastern countries export oil which is imported by other countries. That is an example of international trade between the exporting Middle Eastern countries and the importing countries. Thus import and export are two important components of international trade.
      I don't think that there is actually any term like "International Business" in circulation. If business is an exchange of commodities and services, then it is well covered by "International Trade".
      Economics is the study of the economy. International economics is therefore a study of the international economy. It is a broadbased study of general economic trends around the world. E.g. Inflation, oil production and its pricing, agricultural output etc. Obviuosly inputs from prominent players i.e. major countries, determine such studies to a great extent.

  18. QUESTION:
    what is the international trade?
    help?

    • ANSWER:
      What is "the" international trade? Are you asking what international trade means? If that's your question, here's the answer:

      International trade is the exchange of capital, goods, and services across international borders or territories.[1] In most countries, it represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. International trade is a major source of economic revenue for any nation that is considered a world power. Without international trade, nations would be limited to the goods and services produced within their own borders.

      Ancient silk road trade routes across Eurasia.International trade is in principle not different from domestic trade as the motivation and the behavior of parties involved in a trade does not change fundamentally depending on whether trade is across a border or not. The main difference is that international trade is typically more costly than domestic trade. The reason is that a border typically imposes additional costs such as tariffs, time costs due to border delays and costs associated with country differences such as language, the legal system or a different culture.

  19. QUESTION:
    Business Questions...please help.i have a test.?
    hey I have some questions about business.......please answer them briefly!
    1. what are the advantages of imports and exports. what is international trade.
    2. a background of franchising.
    3.entrepreneurship is the Damiano of the economy. why it is important for the economy? with out it the economy will fail. why is that?
    4.what does a manger do? what does he work. describe him.
    5.human resources...what they do? when someone employee someone.
    6. if the manger is making some decision. what are some process.
    7. tell me about selling and marketing. what are they..for what we use them?
    8. there are some ratios in business(i don't know what they are)what is so important about ratios.
    9. what is the main Point of finance? why it is important?
    i have a test on monday and i would like to hear some of the answers. and thanks in advance.
    maya!!

    • ANSWER:
      International Trade: the exchange of goods and services between nations. Goods can be defined as finished products, as intermediate goods used in producing other goods, or as agricultural products and foodstuffs. International trade enables a nation to specialize in those goods it can produce most cheaply and efficiently. Trade also enables a country to consume more than it would be able to produce if it depended only on its own resources. Finally, trade enlarges the potential market for the goods of a particular economy. Trade has always been the major force behind the economic relations among nations.

      Advantages of Trade:
      In 1776 the Scottish economist Adam Smith, in The Wealth of Nations, proposed that specialization in production leads to increased output. Smith believed that in order to meet a constantly growing demand for goods, a country's scarce resources must be allocated efficiently. According to Smith's theory, a country that trades internationally should specialize in producing only those goods in which it has an absolute advantage that is, those goods it can produce more cheaply than can its trading partners. The country can then export a portion of those goods and, in turn, import goods that its trading partners produce more cheaply. Smith's work is the foundation of the classical school of economic thought.

      Half a century later, the English economist David Ricardo modified this theory of international trade. Ricardo's theory, which is still accepted by most modern economists, stresses the principle of comparative advantage. Following this principle, a country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. The comparative advantage comes if each trading partner has a product that will bring a better price in another country than it will at home. If each country specializes in producing the goods in which it has a comparative advantage, more goods are produced, and the wealth of both the buying and the selling nations increases.
      Besides this fundamental advantage, further economic benefits result when countries trade with one another. International trade leads to more efficient and increased world production, thus allowing countries (and individuals) to consume a larger and more diverse bundle of goods. A nation possessing limited natural resources is able to produce and consume more than it otherwise could. As noted earlier, the establishment of international trade expands the number of potential markets in which a country can sell its goods. The increased international demand for goods translates into greater production and more extensive use of raw materials and labor, which in turn leads to growth in domestic employment. Competition from international trade can also force domestic firms to become more efficient through modernization and innovation.

      Within each economy, the importance of foreign trade varies. Some nations export only to expand their domestic market or to aid economically depressed sectors within the home economy. Other nations depend on trade for a large part of their national income and to supply goods for domestic consumption. In recent years foreign trade has also been viewed as a means to promote growth within a nation's economy. Developing countries and international organizations have increasingly emphasized such trade.

  20. QUESTION:
    why do we do international trade? Benefits. who are involved?

    • ANSWER:
      International trade is done in order to overcome the scarcity of certain goods in certain countries. For example Middle East has huge amount of Oil reserve and very less Cultivation. Meanwhile Australia has huge cultivation and very less Oil reserve. In this case Middle East export Oil to Australia and import Fruits, vegetables, butter etc from Australia. In this way both countries overcome their scarcity. This is the sole purpose of International trade. But now a day s people also do international trade to overcome the high prices in the local market. For example we can import raw materials in India at a price cheaper than that is available in India.
      The people involved in International trade are
      1)Exporter Seller
      2)Importer Buyer
      3)Shipper
      4)Chamber of commerce
      5)Bank Bank is involved only if payment is through them which is safe. It is always better to do L/C business for international trade.

      I hope this could help you.
      Thanks

      Renjith R

  21. QUESTION:
    What are the major reasons of international trade among countries?

    • ANSWER:
      International Trade,Brings people of all countries under one roof.(one roof).You have to follow the Law or Rules of the international trade to participate. One roof ,one World, One controll.= CONTROL.....
      IF you understand Money floatation in the Economy and who sets the Rules..Then you can understand the food or trade floatation on who sets the rules...( RULERS )...............If you substitute the word MONEY for the word FOOD or TRADE,then you will see its the same concept.......The main reason for international trade is to get a strangle hold on controll..( DOMINATE )

  22. QUESTION:
    Please, what is the difference between international trade and international business?

    • ANSWER:
      international trade is only the sales aspect - or that is how I see it.

      international business includes all other aspects, do we make sales from here to there? Do we open an office there? how do we ship, or do we manufacture there? Human resources issues impact the overall business - do I hire local or send people in?

      also speak of international trade when looking at one country vs another. Does France have a trade balance with the US? means does France sell to the US in the same amount that they buy from the US. This gets hard when the cost of living is so different between countries, like China and the UK.

  23. QUESTION:
    How do politics affect international trade?

    • ANSWER:
      Politics affects international trade through trade agreements and protectionist policies. For example, in the 1990s the Republican controlled Congress which favors trade liberalization passed the North American Free Trade Agreement (NAFTA). Subsequently, the Central American Free Trade Agreement (CAFTA) has been passed. Neither of these would likely happen under Democrats because they are much more protectionist. A contemporary example of politics affecting protectionist policies is Charles Schumer's (D-NY) plan to impose a tariff on goods from China. Republican's on the other hand believe that trade liberalization is important because it is more economically efficient while Democrats are frustrated by seeing Chinese goods undercutting American goods.

  24. QUESTION:
    Why are multinational enterprises are so involved in international trade?
    and Can foreign direct investment complement trade?

    • ANSWER:
      International trade his a number of facets 2 of which are:
      you have excess capacity in your home market so capitalise on your economies of scale by selling else where
      you can source a product cheapest in country A so manufacture it their and sell world wide.

      Multinational companies have chosen to be such as a result of being able to buy goods either raw materials or finished in other parts of the world. Labour rates are a common factor here otherwise it is generally availability of raw materials or economy of scale. So clothing, chemicals and basic products are frequently their areas.

      Direct investment is generally step 2. First they might look at subcontracting out then when it proves a success they build their own plant. However in a third world location they may go direct straight out.

  25. QUESTION:
    How does international trade benefit LEDC's?
    Any information would be greatly appreciated, thank you.

    • ANSWER:
      International trade is the exchange of goods and services across international borders. In most countries, it represents a significant share of GDP. In most LEDC countries cost of production (labor mainly) of goods including raw materials are less compared with MEDCs, thus it makes them internationally competitive (although this may not necessarily be a good thing). International trade can benefit the LEDCs by increasing the country's GDP and its residence's disposable income..
      The above are all theories because in reality they don't happen that much or its not wide spread across that country. example is China.

  26. QUESTION:
    Effects of international trade on the economy?
    I have been tasked with writing a paper for economics class on the subject of international trade, specifically trade deficits and trade surplus.

    I've Googled some stuff, but so far everything "international trade" keeps pulling up is how we have an "0 billion dollar" trade deficit with China.

    I need more than just what's in the news. I'm trying to understand HOW international trade affects the economy. So my question is how does international trade affect the economy here in the US?

    • ANSWER:
      Americans' views of international trade are complex and cannot be explained as a simple preference for free trade or protectionism. A strong majority of Americans views trade, in principle, as something positive and as having significant benefits for the US economy. However, the majority also has major reservations about how trade has been put into practice: Americans show strong concern that, though trade has benefited business and the wealthy, it has not benefited American workers and has widened the gap between rich and poor. Americans also show concern that trade has been harmful to the environment, to international labor standards, and to poor countries; and are unhappy because they believe that, while US trade practices are fair, most other countries' are not. Thus, on balance, the net feeling about trade is lukewarm at best. However, if Americans' reservations are addressed, an overwhelming majority says it would then support free trade--suggesting that what resistance there is to the growth of trade is derived from pragmatic, not ideological concerns
      http://www.americans-world.org/digest/global_issues/intertrade/summary.cfm

  27. QUESTION:
    change of career international trade or banking?
    i grew up in the family business. food industry/hospitality service all that stuff. ive worked in hotels, restaurants, coffee shops you name it. but i am growing bored of the field and starting to think of a career change.

    im asking for suggestions of what kind of job i can take. im interested in international business or banking. a job that makes me meet deadlines and working on projects at a time coz i like working under time pressure. ive never worked in an office atmosphere so id be very happy to receive a good advice. im going to study and is torn between international trade or event and meeting management. someone from this fields please help. thanks a lot.

    • ANSWER:
      Change of career between International Trade or Event management.
      Well, quite a decision.
      First I want to say that from my point of view, the International Trade has nothing similar with Event management, basically because the "risk level" is way too different between those careers/ jobs.
      But if you want to get a job with deadlines and work under pressure I can tell you without any doubt, you may chose International Trade. Here are my reasons:
      At International Trade, International Commerce, Foreign Trade or any similar, you'll be under a different kinds of pressure, as in international trade you have to interact with many parties that are involved in the commerce process: producers, carriers, ware houses, maneuverist, surveyors, authorities (customs and related), exporters, importers, banks, brokers, shipping lines, insurance companies and even lawyers. As you can see there are a lot of parties involved so, it doesnt matter where would you participate, you can be sure that you'll have to interact and try to coordinate all the parties looking for achieve project objectives, time lines, financial limits, goverment regulations, etc, etc.
      For this area you must understand and consider that you'll risk your health(stress, nerviousism,etc), your social relationships (sometimes you have to be available 24/7) and many times -in case of possible personal/ company errors- your money (errors on international commerce must be pay by someone, always). Obviously, you must have some abbilities for work in this area, academic (learned) and non academic (usually natural ones).

      Well, I hope this can give you a better view of this career, I consider that you'll find the pressure and demanding situatons that you want.
      Greetings from Veracruz, Mexico.

  28. QUESTION:
    advantages of international trade on stakeholders, shareholders, workers, and host countries?
    a possible topic on my international business exam tommorow, any ideas?

    • ANSWER:
      1. International trade is based on the existence of comparative advantage. Let those, who have comparative advantage in producing a thing, produce that thing. And then exchange.

      2. Increasing international trade is crucial to the continuance of globalization. Without international trade, nations would be limited to the goods and services produced within their own borders.

      3. Instead of importing a factor of production, a country can import goods that make intensive use of that factor of production and thus embody it. An example is the import of labor-intensive goods by the United States from China. Instead of importing Chinese labor, the United States imports goods that were produced with Chinese labor.

      4. International trade is, thus, advantageous to all, including "stakeholders, shareholders, workers, and host countries".

      5. For details on the subject, please read at:

      http://en.wikipedia.org/wiki/International_trade

      .

  29. QUESTION:
    Agree or disagree: International trade benefits society? Need different answers please!?
    Agree or disagree: International trade benefits society. What do you think? Explain your answers.

    • ANSWER:
      To some extent it does, other times it works to the detriment of society. It depends on the circumstances at the time.

      The USA became a prosperous nation 100 years ago because we were the king of globalization.

      What is happening today? Jobs leaving the USA, entire factories are shutting down and moving to foreign countries.

      100 years ago, entire factories were moving to the USA. That's what caused that huge wave of immigration, because the factory owners often brought all their workers with them, paying their way in steerage on a steamer ship.

      Why?

      Tariffs. Tariffs on imports were the main source of revenues for the federal government. Income tax was unconstitutional until 1913, when Congress passed the Sixteenth Amendment. So tariffs were paying for most of the federal budget before then.

      Tariffs raised the prices of imported goods, and it was harder for foreign factories to compete. So they moved their factories here, to avoid paying the tariff.

      Tariffs were the successful way of managing globalization, and it turned the global economy in our favor. We became an indudstrial superpower exporter in 1880, and we became a creditor nation in 1914, because of 100 years of tariffs.

      Tariffs also eliminated slavery. Look up the Tariff of 1828. Slave states hated tariffs. Slavery was holding us back, we had to abolish slavery before we became prosperous.

      We ended tariffs in 1913 and replaced them with income tax, because exporters should not have tariffs. Once you reach that level of prosperity, you become vulnerable to retaliation from your customer nations. That's why the Smoot-Hawley tariff backfired in 1930. We were still an exporter, and other nations retaliated.

      But that all ended when we lost our trade surplus in 1980, and we became a debtor nation again in 1988.

      It was time to go back to tariffs during the 1980's. But the wealthy Wall Street Journal types were salivating over the idea of opening sweatshops in emerging Asian nations, so they raised the bogeyman of Smoot-Hawley to scare us away from tariffs.

      The result has been an economy spiraling out of control. Our trade deficit is now equal to our total exports, which is more than ever in our entire history. We send out a trillion dollars a year on our trade deficit, which adds a trillion dollars of debt to our current account balance every year. The national personal savings rate was 4% in 1930, and it peaked at 10% in 1980. Today it is negative.

      Our economy is now in crisis, unemployment is hovering around 10%, and our government is racking up staggering debts, from wars and stimulus giveaways that will never be paid back by the recipients. That means higher taxes in the future, which will only push us down deeper into the pit.

      Free trade is making us a beggar nation.

      Tariffs made us a prosperous nation.

      It doesn't take a rocket scientist to figure out what we're doing wrong.
      Source(s):
      World Almanac 2009
      Tariff of 1789, 1790, 1792, 1816, 1824, 1828, 1832, 1833, 1842, 1857, 1883
      Revenue Act of 1894, 1913
      Sixteenth Amendment to the U.S. Constitution

  30. QUESTION:
    what does international trade entail?

    • ANSWER:
      International trade is the exchange of goods and services across international boundaries or territories. In most countries, it represents a significant share of GDP. While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact. Increasing international trade is the primary meaning of "globalization".

  31. QUESTION:
    what does international trade entail?

    • ANSWER:
      International trade is the exchange of goods and services across international boundaries or territories. In most countries, it represents a significant share of GDP. While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact. Increasing international trade is the primary meaning of "globalization".

  32. QUESTION:
    What could the title of an international trade bulletin be?
    It will include international trade events, news, guidelines, training & case studies.

    • ANSWER:
      INTERNATIONAL TRADE MAGAZINE:

      http://query.nytimes.com/gst/abstract.html?res=990DE1DA113DE433A25756C0A9669D94649ED7CF

      List of Worldwide International Trade, Logistics, and Export Magazines:

      http://www.traderscity.com/board/services-2/international-trade-publications-10/list-of-worldwide-international-trade-logistics-and-export-magazines-5/

      Magazine Subscriptions "International trade":

      http://www.amazon.com/s?ie=UTF8&keywords=International%20trade&rh=i%3Amagazines%2Ck%3AInternational%20trade&page=1

  33. QUESTION:
    International Trade...?
    I have to make an argument for or against unrestricted international trade. Some possible platforms on which I should write are comparative advantage, gains from trade, World Trade Organization, and trade restrictions.. Any usefull information you can give me to help me with this, so I can come out with a strong arguement..

    • ANSWER:
      Why don't you study Detroit to learn the value and wonders of international trade?

      The problem with the comparative advantage model is that it ignores the cost of learning and strategic trade policies.

      Why trade internationally anyway? For a country as big as the US, where it only gets 15% in imports, couldn't it make everything it needed? International trade just wiped out all our retail manufacturing in the last 15 years and turned us from the worlds largest creditor nation to the worlds largest debtor nation. And trading with countries that by and large don't even practice free trade. But I digress.

  34. QUESTION:
    what does "all international trades" mean please?
    actually i need to get meaning of"in what must be one of the most ruthless and competitive af all international trades?" please

    • ANSWER:
      International trade is in principal a good thing, but a few people take advantage of it and that is why people think that it is a bad thing. But if you look at China before they entered the WTO, people in China use to live below .50 Cents US a day. Now China is, what some people call a Player in the global market. They just invested something like 1 billion US Dollars in Africa to help the African people, not to mention train them to become good manufacturers in the product that is in Global Demand. China was able to get to this stage through Internation Trading.
      Now China is changing a lot of their Laws to meet Kiyoto standard. Which is to bring down Carbon in the air. And also making new enviromental laws to protect the enviroment. They still have a long way to go, but they are starting to change for the better. Anyways that is one of the ways international trade helps countries.

  35. QUESTION:
    introduction international trade and the developing countries?

    • ANSWER:
      international trade is the two edged knife.developing countries are getting more opportunities to go internationally.and at the same time they r facing the tough copmetertion MNC'S and loosing the market share.many developing countries are not abe to produce with low cost as developed countries,because of technological and other barriers.

      but countries like india are using the international trade as an opportunity and expannding their market size.any country with good technical and skilled man power support ,can make miracels in internatrional trade

  36. QUESTION:
    what was the First International Period of Trade?
    This is ancient history. What was the first international period of trade, when did it occur, who was involved in it and what were they trading? Thank you for your help.

    • ANSWER:
      International period of trade were conducted country to country in ancient days. Specific period will not be available. China, Egypt, Rome, india, Europe were involved. Those days, they exchanged valuable items against food, silks, cotton, coral, and other valuable. There was no money in those days. There were travelers who will go from their country to another country by even country boats, walk etc.,Take marco polo, he visited china and brought silk from there. From china there were many visited European countries. This international ancient trade was in the world before christ born. when civilization growing the countries begin to exchange productive materials. There was interesting trade that any individual can do trade without permission of the ruling king, so individuals shined in those days. Now only foreign exchange etc., and there was no such things and in fact no money. Food for food, jewels, corals, silks and other rare articles. so, it is difficult to say when was the ancient trade first started. i answered as the the knowledge available and also known from some books.

  37. QUESTION:
    International Trade Economics?
    Q.If demand for a country s export good rises, other things being equal, will both the commodity terms of trade and the income terms of trade improve? Explain.

    Q. Since the case for gains from trade for a country is strong, why do governments continue to attempt to reduce trade with tariffs, quotas, and the like?

    Q Suppose Singapore is endowed with 100 units of labour. With 1 unit of labour, it can produce either 1 computer or 10 cameras. The world relative price of computers in terms of cameras is 12.

    a. Determine Singapore s comparative advantage.

    b. Draw the production-possibility curve indicating the point at which Singapore will choose to produce under free trade.

    c. Show the combinations of computers and cameras for consumption under free trade. Hint: Show the amount of exports and imports.

    Q In light of the Ricardian model, how might you evaluate the claim by developing countries that they are at a disadvantage in trade with powerful industrialized nations?

    • ANSWER:
      4 completely independent questions in one post? A bit greedy, no?

      1. For the first question, you say "other things being equal". Well, if prices don't change because of the increased demand, then neither do the terms of trade.
      http://en.wikipedia.org/wiki/Terms_of_trade

      2. For question #2, consider both:
      http://internationalecon.com/Trade/Tch90/T90-9.php
      and the fact that decisions are made by people, not countries, and people operate in their own personal best interest (after all, they are rational, no? :-)

      So whether or not the country as a whole gains from trade is irrelevant; the question is whether the decision makers gain from trade. Trade does not benefit everyone in the country - some benefit, some lose. Politicians have their constituencies and those constituencies care about some issues and not others. If a powerful constituency wants protection, what is their politician going to do?
      http://www.usatoday.com/money/general/2002/03/05/bush-steel.htm

      3. Look at:
      http://internationalecon.com/Trade/Tch40/T40-4.php

      4. The Ricardian model says only that both sides can benefit. It doesn't address:

      A. Who in the two countries gets the benefit? In the developing country, it is often just the man being bribed or his cronies:
      http://af.reuters.com/article/investingNews/idAFJOE73L03520110422

      B. How the total gains from trade are split up between the parties.

      Of course, you if you bring in some of Ricardo's other work:
      http://en.wikipedia.org/wiki/Iron_Law_of_Wages#Ricardo
      then the claim makes perfect sense even under Ricardo's models.

  38. QUESTION:
    what is foriegn trade?
    import trade, export trade, enterpot trade

    • ANSWER:
      International trade is the exchange of goods and services across international boundaries or territories. In most countries, it represents a significant share of GDP. While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact. Increasing international trade is the usually primary meaning of "globalization".

      International trade is also a branch of economics, which, together with international finance, forms the larger branch of international economics.
      Derek trade theory

      Several different models have been proposed to predict patterns of trade and to analyze the effects of trade policies such as tariffs.

  39. QUESTION:
    Please what does international trade entail?
    Please i am presently reading Economics in the University, and i would like do Masters and Phd in any relevant course to supplement my first degree in Economics, i was adviced to read International trade to supplement it. My problem here is, I dont really know what international trade entails, and also, where can i work and what can i work as if I hold a First degree in Economics and hold a Second degree (Masters & Phd) in International trade.

    • ANSWER:
      International trade is a huge field, made up of many specialties, so I don't think anyone can give you a complete answer here. It may be too broad an area for an advanced academic degree. I would expect people to select international law or international banking. There are so many things to consider when exhanging goods from one country to another that people usually specialize within the field. You need to be aware of the import and export laws of both countries as well as the banking systems, cultural values, economics, etc. Insurance, shipping, risk, market dynamics--are all valuable. Your best source, though, would be the faculty at the university you want to attend. Ask them where their graduates go.

  40. QUESTION:
    International trade?
    Anyone know of a recent article (last 6 months) about trade between countries, and possibly talks about a quota or tarif or other trade protection?

    • ANSWER:
      INTERNATIONAL TRADE is defined as "the exchange of goods and services across the external boundaries or territories ".
      without International trade the nations can exchange only goods and services produced within these nations.
      international trade means the continuace of globalization.

  41. QUESTION:
    What is restricted international trade?

    • ANSWER:
      Restricted international trade comes in the form of sanctions, tariffs and quotas.

      Sanctions are used to limit types of goods (firearms, foodstuff) which could cause a detriment to the environment of the importing country and origins of goods usually restricting trade from countries with unacceptable political or environmental policies.

      Tariffs are imposed upon imported goods usually as a protection against unfair competition which would impinge upon the economic stability of the local industries

      Quotas similarly are imposed upon goods and sources usualy to prevent dumping of excesses of cheap discounted goods which are intended to undermine the economy of locally produced goods in the long term.

  42. QUESTION:
    How could international trade cause poverty?

    • ANSWER:
      International trade agreements are agreed upon at national level between state negotiators. They cannot account for the welfare of many classes of people, nor can these state negotiators predict the future to foresee impending bad outcomes. Things can become very bad very quickly.

      International trade has made dumping a reality. Rich countries subsidise their industries and their farms such that farmers produce bountiful food even when their domestic demand does not require them to, even when they don't even need assistance as a whole to produce food aplenty. Emerging farmers from poorer nations have to compete with these fat cat farmers which have lower costs. Is that fair?

      And then they are put out of business.

      How does this happen? Negotiations under duress or without foresight.

  43. QUESTION:
    what is the best online stockbroker? (international trading)?
    what is the best online stockbroker, and if it is etrade does the trade free 60 days include international trading because i heard currency x-furs can be expensive

    P.S. I,m new to investing and any additional advice would be appreciated (books,websites,ect...)

    • ANSWER:
      The market of the online brokerage is quite competitive, you will find on this website a selection of the principal brokers with fees details:

      http://online-stock-trading-review.toptenreviews.com/

      Regarding your international investments, it is easier to buy ADR (american deposit receipt) or buy foreign stocks through ETF. With these instruments, you wont need to deal with the currency.

      If you are new to investing you can read books like Investing for dummies.
      Regarding more advanced books, you can refer to this list:

      The intelligent investor by Benjamin Graham
      One up with Wall Street by Peter Lynch
      You can be a stock market genius by Joel Greenblatt
      Security analysis by Benjamin Graham and David Dodd
      Quality of earnings by O'Oglove
      The Essays of Warren Buffett by Lawrence Cunningham
      Contrarian Investment strategies by David Dreman

      Finally regarding websites:

      Barron's website is covering U.S financial information with daily analysis, blogs, investing ideas and market data sections.

      Bloomberg's website is providing news and market data.

      Business Standard's website is one of the leading Indian financial newspaper.

      Businessweek's website from the well-known magazine has some in depth articles.

      CNN Money's website is composed of business news, economy news, market data and personal finance parts.

      Efinancial news's website is composed of various news in asset management, investment banking, private equity and trading.

      Financial Times's website from the famous newspaper where you will find international news about economies and companies.

      Google Finance's website, one of the most complete finance site.

      International Business Times is a source of analysis on international business and world affairs.

      International Business Times is a source of analysis on international business and world affairs.

      Kiplinger is a website proposing investment articles and personal finance advices.

      Money week's website, UK financial news.

      MorningStar's website is extremely useful is you look for a mutual fund.

      MSM Money's website, you will find news, investing articles and personal finance articles.

      Reuters website from the global news provider proposes market data, global and local news.

      Smart Money is a wall street journal specialized in personal finance.

      The Fiscal Times is an online publisher addressing vital fiscal, budgetary, health care and economic issues.

      The Street is an online publisher proposing news, market data, research and stock picks idea.

      Wall Street Journal's website from the international daily newspaper.

      Yahoo Finance's website is one of the best free resources online.

  44. QUESTION:
    From where do I get international trade information?

    • ANSWER:
      Where to get international trade information.
      Well, embassies (as another person said here) are a good option, because they know the country and contacts. But, I would recommend you another high quality information source, for international trade, it is the "World Trade Organization" (WTO, link added below); as its name says, they are into every and any information about international trade. There you can find a lot of information from every country. Also you can get more information about international commerce at the ICC web site (International Chamber of Commerce).
      I hope this information be helpful for you.
      Greetings from Mexico.

  45. QUESTION:
    Foreign trade???
    whats the meaning of foreign trade??? pls help me.....asap

    • ANSWER:
      International trade or Foreign Trade is the exchange of goods and services across international boundaries or territories. In most countries, it represents a significant share of GDP. While foreign trade has been present throughout much of history, its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact. Increasing international trade is basic to globalization".
      In economics, an export is any good or commodity, transported from one country to another country in a legitimate fashion, typically for use in trade. Export is an important part of international trade. Its counterpart is import.
      Export goods or services are provided to foreign consumers by domestic producers. Export of commercial quantities of goods normally requires involvement of the Customs authorities in both the country of export and the country of import. Exports and Imports are two sudes of Foreign Trade of a country.

  46. QUESTION:
    reasons for international trade?

    • ANSWER:
      Reason for International trade: Country can avail the advantage of International Division of Labour from trade across the border.
      two parts export and import-
      Export: 1.surplus can be exported and can be paid for imports.
      2. It help to increase NI of the country.
      3. help to increase capital resources.
      Imports:1. if the home country can't produce it can import.
      2. Even if the production is possible the cost of production may be high and sometime may not be feasible. In that case home country can import from foreign country at a cheaper rate.
      3. Technology , inputs all can come through import.

  47. QUESTION:
    histry of international trade?
    regarding more about international trade including histry

    • ANSWER:
      Trade goes back longer than historical records or the idea of nations and international anything. For example, in the Bronze Age, the Phoenicians came to Cornwall to buy the tin from which bronze was made. Earlier still, there is I believe archaeological evidence of trade between Minoan Crete and India.

      The idea of "nations" kind-of-evolved out of tribes in Europe during the Dark Ages (the post-Classical period) when there was lots of (broadly westward and southwestward) migration of peoples in and into Europe. Trade across borders of kingdoms existed then too, though not a lot of it. It increased quite a bit during the mid and later Middle Ages as states emerged with traders in power, like Venice and Genoa.

      There has of course been a huge upsurge of trade with the development of industrial manufacturing, an activity that created both tradeable goods and means of transport to move them around easily like railways and steamships.

      More recently with developments like open capital markets, real-time technology, and the growth of cheap international travel, there has been a huge increase in trade in services.

      Trans-border trade has grown faster than the world economy throughout the last 200 years and, in so far as it can be measured, would appear to have done so during the previous 1300 years as well.

  48. QUESTION:
    Economics-international trade and WTO?
    How WTO effects on international trade?

    What's the good points of WTO??
    and bad points??

    Reasons that why WTO organized??

    • ANSWER:
      The World Trade Organization (WTO) is one of the most recent examples of international trade liberalization. The WTO was convened in January of 1995, a formalization of many changes which had occurred in international markets since the earlier GATT convention. The WTO seeks to lower barriers to international trade and commerce by multilaterally abolishing tariffs, standardizing measures and creating greater dialogue. Its membership has so far reached 148 and over 30 states are negotiating for membership. Like the EU, NAFTA, and various other economic frameworks, membership in the WTO is highly sought after. Money speaks, and free trade is the lingua franca of the global world.
      The WTO is a body designed to promote free trade through organising trade negiotiations and act as an independent arbiter in settling trade disputes.

      To some extent the WTO has been successful in promoting greater free trade.

      Free trade has many advantages. such as:

      1. Lower prices
      2. greater competitiveness
      3. increased growth

      However, the WTO has often been criticised for ignoring the plight of the developing world. It is argued the benefits of free trade accrue mostly to the developed world. In fact free trade has many disadvantages

      * Disadvantages of Free Trade like :
      1. Infant Industry Argument.

      If developing countries have industries that are relatively new, then at the moment these industry s would struggle against international competition. However if they invested in the industry then in the future they may be able to gain Comparative Advantage.

      o This shows that comparative advantage can change over time

      * Therefore protection would allow them to progress and gain experience to enable them to be able to compete in the future

      2. The Senile industry argument.

      If industries are declining and inefficient they may require large investment to make them efficient again. Protection for these industries would act as an incentive to for firms to invest and reinvent themselves. However protectionism could also be an excuse for protecting inefficient firms

      3. To diversify the economy

      Many developing countries rely on producing primary products where
      they currently have a comparative advantage. However relying on agricultural products has several disadvantages

      + Prices can fluctuate due to environmental factors
      + Goods have a low income elasticity of demand. Therefore with economic growth demand will only increase a little

      4. Raise revenue for the govt.

      Import taxes can be used to raise money for the govt however this will
      only be a small amount of money

      5. Help the Balance of Payments

      Reducing imports can help the current account. However in the long term this is likely to lead to retaliation

      6. Cultural Identity

      This is not really an economic argument but more political and cultural. Many countries wish to protect their countries from what they see as an Americanisation or commercialisation of their countries

      7. Protection against dumping

      The EU sold a lot of its food surplus from the CAP at very low prices on the world market. This caused problems for world farmers because they saw a big fall in their market prices

      8. Environmental

      It is argued that free trade can harm the environment because LDC may use up natural reserves of raw materials to export. Also countries with strict pollution controls may find consumers import the goods from other countries where legislation is lax and pollution allowed.

      * However supporters of free trade would argue that it is up to individual countries to create environmental legislation

      In response to this the WTO may say that free trade has been an important engine of growth for developing countries in Asia. Although there may be some short term pain, it is worth it in the long run.

  49. QUESTION:
    where International trade economics is concerned ?
    where International trade economics is concerned ?

    • ANSWER:
      International trade economics concerned with the exchange of goods, capital and services across international borders or territories. In almost all of countries, International trade is shown as a significant share of gross domestic product also called as GDP, While international trade has been present throughout the previous history,

      http://www.expertsmind.com/economics/international-trade-economics-homework-assignment-help.aspx

  50. QUESTION:
    How does international free trade affect monopolies?

    • ANSWER:
      Free trade means no trade restrictions- heaven for the MNC's.
      *Therefore, Monopoly can extend its operation easily to that country and take the advantage of scale. *Consumer can also have the benefit of competitive price and choice.
      * Monopolies if desired can practice discriminating pricing policy ( elastic or inelastic demand)and become discriminating monopoly- charging more to home country and less to foreign country.
      * Monopolists sometimes manipulate it production, calculation of revenue and cost in such a way it has to pay less tax , earn more revenue than otherwise.
      * Franchise and sharing patent right will be much easy than otherwise.
      * joint venture, take over is a very common to all MNC's
      * Free trade across the countries also help to increase the volume of international trade.
      * Domestic industries will suffer specially the small and new one.


international trade

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