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Global Economy
 

Global Economy

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    Global Economy Global Economy Presentation Transcript

    • Global Economy Kelsey Winchester 3 rd block The balance of trade is the difference between a country’s total exports and total imports. This is important because countries try to keep it in balance and also it is important so you will know where your country stands with other countries.
    • Exchange Rate
      • The exchange rate is the value of a currency in one country compared with the value in another.
      • Examples of exchange rates
      • Mexico- 1 US Dollar = 14.57957 Mexican Peso
      • Russia-1 Russian Rouble = 0.02867 US Dollar
      • Japan- 1 Japanese Yen = 0.01108 US Dollar
    • Factors affecting exchange rate
      • Balance of Payments
      • Economic Conditions
      • Political Stability
    • Geography
      • Geography is important when doing business internationally because the location, climate, terrain, seaports, and natural resources of a country influence business activity.
      • For example, a nation with many rivers or ocean seaports can easily ship products for foreign trade.
    • Cultural Influences
      • Cultural influences is important when doing business internationally because what is appropriate and what is not is different in every country. In some societies, hugging is an appropriate business greeting, and in other a handshake is in custom.
      • Culture Factors: language, religion, values, customs, and social relationships.
    • US balance of trade
      • Australia-$1,428,300,000.00 
      • India--$2,073,000,000.00 
      • China--$24,670,400,000.00 
      • Europe--107,239.9