International trade is the exchange of goods and services between countries, giving rise to a world economy where prices are affected globally. It differs from internal trade within a country in factors of mobility, product movement, economic environments, and monetary units used. International trade is driven by natural resources, climate, labor forces, and specialization between countries. Theories of international trade include mercantilism, liberalism, and comparative advantage.
Richard Andréss Robalino Quito is studying electronics and telecommunications. His English homework discusses the advantages and disadvantages of free trade. [1] Free trade occurs without barriers between countries and leads to lower prices and more choices for consumers. However, it can also result in job losses and economic dependence as local industries struggle against international competition. [2] While free trade may benefit large, developed countries, it poses more risks for poorer nations that are less able to compete globally or make up job losses. [3] Overall, the document analyzes the complex impacts of free trade on both rich and poor countries.
International Trade Theories document discusses several theories of international trade:
1. Mercantilism advocated accumulating wealth through exports and limiting imports using government policies.
2. Adam Smith's absolute advantage theory states that countries should specialize in goods they can produce more efficiently.
3. David Ricardo's comparative advantage theory recognizes that even without an absolute advantage, mutual trade benefits are possible if countries specialize in goods with lower opportunity costs of production.
The document summarizes several major international trade theories:
- Mercantilism proposes that countries should export more than they import to accumulate wealth. Neomercantilism also seeks trade surpluses but for social or political goals.
- Theories of absolute and comparative advantage suggest that specialization through free trade increases global output as countries produce goods they are relatively efficient in.
- Other theories discussed include the product life cycle theory, Porter's diamond theory of competitive advantage, and theories relating to country size, factor endowments, and cultural similarity between trading partners.
- Trade patterns are influenced by factors like country characteristics, distance, and factor mobility between nations.
2. Theories of International Trade, Tariff and Non-tariff barriers and Trade ...Charu Rastogi
The document discusses theories of international trade, trade barriers, and trade blocks. It covers Adam Smith's theory of absolute advantage, Ricardo's theory of comparative advantage, and factor proportions theory. It also explains tariff barriers like import duties as well as non-tariff barriers such as quotas, import licenses, and product standards. Finally, it discusses trade blocks and different levels of economic integration between countries, from free trade areas to political unions.
This document discusses various social, cultural, economic, political, and legal differences between countries that can act as barriers to international trade. It identifies potential problems with language barriers, differing cultural values and religious practices. It also outlines economic differences such as infrastructure, currency fluctuations, and varying political environments including stability, legal systems, and corruption. The document then shifts to describing specific barriers like tariffs, quotas, embargoes and exchange controls. It concludes by examining international organizations that promote free trade such as the WTO, NAFTA, EU, IMF, and World Bank.
This document provides an overview of various international trade theories, including:
- Mercantilism, which holds that a positive trade balance increases a nation's wealth and advocates government intervention to encourage exports and discourage imports.
- Absolute advantage theory, which suggests that countries should produce and export goods they can produce with fewer resources than other nations.
- Comparative advantage theory, which argues that nations can benefit from trade even if they do not have an absolute advantage, as long as they have a comparative advantage in producing some goods at a lower opportunity cost.
International trade is the exchange of goods and services between countries, giving rise to a world economy where prices are affected globally. It differs from internal trade within a country in factors of mobility, product movement, economic environments, and monetary units used. International trade is driven by natural resources, climate, labor forces, and specialization between countries. Theories of international trade include mercantilism, liberalism, and comparative advantage.
Richard Andréss Robalino Quito is studying electronics and telecommunications. His English homework discusses the advantages and disadvantages of free trade. [1] Free trade occurs without barriers between countries and leads to lower prices and more choices for consumers. However, it can also result in job losses and economic dependence as local industries struggle against international competition. [2] While free trade may benefit large, developed countries, it poses more risks for poorer nations that are less able to compete globally or make up job losses. [3] Overall, the document analyzes the complex impacts of free trade on both rich and poor countries.
International Trade Theories document discusses several theories of international trade:
1. Mercantilism advocated accumulating wealth through exports and limiting imports using government policies.
2. Adam Smith's absolute advantage theory states that countries should specialize in goods they can produce more efficiently.
3. David Ricardo's comparative advantage theory recognizes that even without an absolute advantage, mutual trade benefits are possible if countries specialize in goods with lower opportunity costs of production.
The document summarizes several major international trade theories:
- Mercantilism proposes that countries should export more than they import to accumulate wealth. Neomercantilism also seeks trade surpluses but for social or political goals.
- Theories of absolute and comparative advantage suggest that specialization through free trade increases global output as countries produce goods they are relatively efficient in.
- Other theories discussed include the product life cycle theory, Porter's diamond theory of competitive advantage, and theories relating to country size, factor endowments, and cultural similarity between trading partners.
- Trade patterns are influenced by factors like country characteristics, distance, and factor mobility between nations.
2. Theories of International Trade, Tariff and Non-tariff barriers and Trade ...Charu Rastogi
The document discusses theories of international trade, trade barriers, and trade blocks. It covers Adam Smith's theory of absolute advantage, Ricardo's theory of comparative advantage, and factor proportions theory. It also explains tariff barriers like import duties as well as non-tariff barriers such as quotas, import licenses, and product standards. Finally, it discusses trade blocks and different levels of economic integration between countries, from free trade areas to political unions.
This document discusses various social, cultural, economic, political, and legal differences between countries that can act as barriers to international trade. It identifies potential problems with language barriers, differing cultural values and religious practices. It also outlines economic differences such as infrastructure, currency fluctuations, and varying political environments including stability, legal systems, and corruption. The document then shifts to describing specific barriers like tariffs, quotas, embargoes and exchange controls. It concludes by examining international organizations that promote free trade such as the WTO, NAFTA, EU, IMF, and World Bank.
This document provides an overview of various international trade theories, including:
- Mercantilism, which holds that a positive trade balance increases a nation's wealth and advocates government intervention to encourage exports and discourage imports.
- Absolute advantage theory, which suggests that countries should produce and export goods they can produce with fewer resources than other nations.
- Comparative advantage theory, which argues that nations can benefit from trade even if they do not have an absolute advantage, as long as they have a comparative advantage in producing some goods at a lower opportunity cost.
This document summarizes the key topics in international trade policy, including arguments for and against free trade. It discusses how free trade maximizes welfare but can have distributional effects. Arguments for free trade include efficiency gains and economies of scale. Arguments against include terms-of-trade gains from tariffs and addressing domestic market failures. Trade policy is also influenced by income distribution and political pressures. International trade agreements aim to liberalize trade through negotiation while balancing these various interests.
Lesson 4 free trade - power point - duke-1msladuke
The document discusses the concept of free trade and its benefits, including that it allows countries and individuals to specialize in what they produce most efficiently and trade with others, which can lower costs. However, free trade may also negatively impact some groups by moving jobs to other countries and potentially exacerbating inequality and environmental issues in some less developed nations. The document explores both sides of this issue through examples, rules for a trading simulation, and discussion of how free trade impacts different groups.
1. The document provides an overview of international trade and economics, including definitions of internal and international trade, theories of international trade such as comparative cost theory and opportunity cost theory, and features of international transactions.
2. International trade is defined as the exchange of goods and services across borders, and is impacted by factors like transportation, globalization, and multinational corporations. Key differences between internal and international trade include barriers to trade between countries and differences in economic environments and currencies between nations.
3. Theories of international trade discussed include comparative cost theory, opportunity cost theory, and Heckscher-Ohlin theory. Features of international transactions that distinguish them from domestic trade include immobility of factors of production between countries
This document provides an overview of international trade theory. It defines international trade and outlines several theories for why nations trade, including mercantilism, absolute advantage, comparative advantage, and factor endowment theory. It also discusses the international product life cycle theory and how trade barriers can impact trade between nations. The document contrasts the theories of absolute and comparative advantage using examples and analyzes different considerations in international trade such as government regulation and consumer tastes.
This document discusses international business and provides learning objectives about understanding its history, impact, and growth of global linkages. It defines international business as transactions across national borders that satisfy objectives of individuals, companies, and organizations. It notes the need for international business has grown as more firms go global and it offers opportunities while connecting the global economy.
Free trade involves the exchange of goods between countries without restrictions like tariffs or quotas. Early economic theories like mercantilism supported government control over trade to accumulate wealth, while later theorists like Adam Smith and David Ricardo argued that free trade allows countries to specialize and benefit from comparative advantage. While classical theories supported free trade, many countries adopted protectionist policies due to arguments around infant industries, national defense, and unemployment. Since WWII, organizations like GATT and the WTO have worked to gradually reduce trade barriers, but free trade remains a controversial issue.
Free trade & protectionism part 1-international economicsPaolaReyesR
This document discusses free trade and protectionism. It defines free trade as occurring when there are no barriers to trade between countries, allowing goods to move freely. Protectionism refers to measures that give local producers an advantage over foreign competitors. The document then examines arguments for and against protectionism, such as protecting domestic industries and employment versus higher consumer prices and reduced competition.
Regional integration involves countries entering agreements to increase cooperation through common rules and institutions. This can involve reducing trade barriers and increasing movement of goods, capital, labor and people across borders. Different types of regional integration include preferential trade agreements, free trade areas, customs unions, common markets, economic unions, and political unions. Regional integration is helping countries grow their trade by allowing for more commerce within the integrated region. The safest method of payment in international trade is a letter of credit, as it provides the highest level of security by making payment conditional on meeting terms specified in the letter of credit.
This document provides lecture notes on international economics. It begins with an introduction that defines the scope of international economics and discusses its main concepts and themes, including the gains from trade, patterns of trade, protectionism, balance of payments, exchange rates, policy coordination, and international capital markets. It then covers the historical development of international trade theories from mercantilism to the current new trade theories. The next sections will analyze the theories of absolute advantage, comparative advantage, and the standard models of international trade.
This document provides an introduction to a presentation on mercantilism. It lists the group members presenting - Kaniz Fatima, Fariha Ahmad, and Tarich Khalasi - and their student IDs. It then provides an overview of the basic concepts of mercantilism, including that it believes a nation's wealth depends on precious metals and favors exporting more than importing to accumulate gold and silver. It also notes Adam Smith first coined the term "mercantile system" and that mercantilist policies involved tariffs, subsidies, and limiting wages.
International Trade Theories
This document discusses several theories of international trade. It begins by defining international trade as the exchange of capital, goods, and services across borders. It then explains that the main purposes of trade theories are to explain observed trade patterns, understand the effects of trade on domestic economies, and evaluate policy. The major theories discussed include absolute advantage, comparative advantage, product life cycle theory, and theories related to country size, factor proportions, and country similarity. Limitations and relationships between theories are also examined.
This document discusses international trade law and theories of international trade. It begins by defining international trade and outlining the key developments that led to its growth, such as the industrial revolution, imperialism, and advances in transportation and technology. It then lists several advantages and disadvantages of international trade. The main body of the document outlines six economic theories of international trade law: Mercantilist Theory, Classical Theory (including Absolute and Comparative Cost Advantage), Heckscher-Ohlin Theory, and several New Trade Theories including Neo-Technological, Intra-Industry, and Strategic Trade Policy models. Each theory is concisely described.
This document discusses several theories of international economics, including: mercantilism, absolute advantage, comparative advantage, Heckscher-Ohlin theory, and Heckscher-Ohlin-Samuelson theorem. It also covers international trade protections, foreign exchange markets, currency exchange rates, balance of payments, and the history and principles of agrarian reform laws in the Philippines.
The document discusses the World Trade Organization (WTO) and international business. It provides background on the WTO, noting that it is the most powerful international organization dealing with trade between nations. It aims to help producers, exporters, and importers conduct business. There are arguments for and criticisms against the WTO. The document also discusses what constitutes international business and different types of international firms and strategies companies use for expanding internationally.
International economics studies the economic interactions and interdependence between nations [1]. It examines how trade leads to the allocation of scarce resources to increase economic well-being [2]. International economics also deals with how nations are economically interconnected through trade, financial flows, multinational corporations, and domestic economic policies [3].
International business environment MB-IB-01-MBA-IIIrd SEM-UPTUKartikeya Singh
This document outlines the topics that will be covered in a course on international business environment. The topics include:
1. An overview of international business and the factors that comprise the international environment, including physical, demographic, economic, sociocultural, political, legal and technological factors.
2. Trends in world trade, including the impact of globalization and crises like the 2008 recession, as well as the rise of emerging markets and south-south trade.
3. The various legal and regulatory frameworks involved in international business transactions, including international laws, trade agreements, and differing national regulations regarding issues like advertising, product safety, and contract law.
4. How international business contracts and agreements are structured
IAF605 Week 5 International trade and factor mobility theoryIAF605
The document summarizes key points from Chapter 6 of the textbook on international trade and factor mobility theory. It discusses major theories such as absolute advantage, comparative advantage, factor proportions theory, country similarity theory, and product life cycle theory. It also explains how trade patterns are influenced by country characteristics and how trade and mobility of factors like capital and labor are interconnected on a global scale. Looking ahead, it predicts shifts in trade as economies develop and production becomes more specialized and services-oriented.
The document provides background information on World War 1 and 2. It discusses the key events and consequences of WW1 including the Treaty of Versailles, establishment of the League of Nations, and dissolution of the Ottoman and Austro-Hungarian empires. For WW2, it outlines the allied and axis powers and covers the major invasions by both sides during the war. It also summarizes the Yalta Conference and consequences of WW2 such as the Cold War and establishment of the UN.
The document defines war as an armed contest between independent political units using military force to pursue policy goals. It discusses the causes of World War 1, including nationalism, alliances, and the assassination of Archduke Franz Ferdinand. The key events of the war are summarized, from the Schlieffen Plan to the Christmas truce. Major consequences included the collapse of several empires, emergence of new states, and the signing of peace treaties like Versailles.
Week no 2 (5 12) international organizationsDildar Ali
The document provides information on several international organizations including the United Nations, European Union, NATO, Shanghai Cooperation Organization, Organization of Islamic Cooperation, Non-Alignment Movement, and other regional organizations such as the Asian Development Bank, Commonwealth, and World Trade Organization. It outlines the purpose, structure, and membership of these different intergovernmental organizations.
This document provides a summary of the history of Pakistan from ancient times to its independence in 1947. It discusses the arrival of various groups including Aryans, Muslims, Portuguese, and English. Key events leading to the establishment of Pakistan are highlighted such as the Minto-Morley Reforms, the Lahore Resolution of 1940, and the independence of Pakistan in 1947. The administrative units and political map of Pakistan are also briefly outlined.
This document summarizes the key topics in international trade policy, including arguments for and against free trade. It discusses how free trade maximizes welfare but can have distributional effects. Arguments for free trade include efficiency gains and economies of scale. Arguments against include terms-of-trade gains from tariffs and addressing domestic market failures. Trade policy is also influenced by income distribution and political pressures. International trade agreements aim to liberalize trade through negotiation while balancing these various interests.
Lesson 4 free trade - power point - duke-1msladuke
The document discusses the concept of free trade and its benefits, including that it allows countries and individuals to specialize in what they produce most efficiently and trade with others, which can lower costs. However, free trade may also negatively impact some groups by moving jobs to other countries and potentially exacerbating inequality and environmental issues in some less developed nations. The document explores both sides of this issue through examples, rules for a trading simulation, and discussion of how free trade impacts different groups.
1. The document provides an overview of international trade and economics, including definitions of internal and international trade, theories of international trade such as comparative cost theory and opportunity cost theory, and features of international transactions.
2. International trade is defined as the exchange of goods and services across borders, and is impacted by factors like transportation, globalization, and multinational corporations. Key differences between internal and international trade include barriers to trade between countries and differences in economic environments and currencies between nations.
3. Theories of international trade discussed include comparative cost theory, opportunity cost theory, and Heckscher-Ohlin theory. Features of international transactions that distinguish them from domestic trade include immobility of factors of production between countries
This document provides an overview of international trade theory. It defines international trade and outlines several theories for why nations trade, including mercantilism, absolute advantage, comparative advantage, and factor endowment theory. It also discusses the international product life cycle theory and how trade barriers can impact trade between nations. The document contrasts the theories of absolute and comparative advantage using examples and analyzes different considerations in international trade such as government regulation and consumer tastes.
This document discusses international business and provides learning objectives about understanding its history, impact, and growth of global linkages. It defines international business as transactions across national borders that satisfy objectives of individuals, companies, and organizations. It notes the need for international business has grown as more firms go global and it offers opportunities while connecting the global economy.
Free trade involves the exchange of goods between countries without restrictions like tariffs or quotas. Early economic theories like mercantilism supported government control over trade to accumulate wealth, while later theorists like Adam Smith and David Ricardo argued that free trade allows countries to specialize and benefit from comparative advantage. While classical theories supported free trade, many countries adopted protectionist policies due to arguments around infant industries, national defense, and unemployment. Since WWII, organizations like GATT and the WTO have worked to gradually reduce trade barriers, but free trade remains a controversial issue.
Free trade & protectionism part 1-international economicsPaolaReyesR
This document discusses free trade and protectionism. It defines free trade as occurring when there are no barriers to trade between countries, allowing goods to move freely. Protectionism refers to measures that give local producers an advantage over foreign competitors. The document then examines arguments for and against protectionism, such as protecting domestic industries and employment versus higher consumer prices and reduced competition.
Regional integration involves countries entering agreements to increase cooperation through common rules and institutions. This can involve reducing trade barriers and increasing movement of goods, capital, labor and people across borders. Different types of regional integration include preferential trade agreements, free trade areas, customs unions, common markets, economic unions, and political unions. Regional integration is helping countries grow their trade by allowing for more commerce within the integrated region. The safest method of payment in international trade is a letter of credit, as it provides the highest level of security by making payment conditional on meeting terms specified in the letter of credit.
This document provides lecture notes on international economics. It begins with an introduction that defines the scope of international economics and discusses its main concepts and themes, including the gains from trade, patterns of trade, protectionism, balance of payments, exchange rates, policy coordination, and international capital markets. It then covers the historical development of international trade theories from mercantilism to the current new trade theories. The next sections will analyze the theories of absolute advantage, comparative advantage, and the standard models of international trade.
This document provides an introduction to a presentation on mercantilism. It lists the group members presenting - Kaniz Fatima, Fariha Ahmad, and Tarich Khalasi - and their student IDs. It then provides an overview of the basic concepts of mercantilism, including that it believes a nation's wealth depends on precious metals and favors exporting more than importing to accumulate gold and silver. It also notes Adam Smith first coined the term "mercantile system" and that mercantilist policies involved tariffs, subsidies, and limiting wages.
International Trade Theories
This document discusses several theories of international trade. It begins by defining international trade as the exchange of capital, goods, and services across borders. It then explains that the main purposes of trade theories are to explain observed trade patterns, understand the effects of trade on domestic economies, and evaluate policy. The major theories discussed include absolute advantage, comparative advantage, product life cycle theory, and theories related to country size, factor proportions, and country similarity. Limitations and relationships between theories are also examined.
This document discusses international trade law and theories of international trade. It begins by defining international trade and outlining the key developments that led to its growth, such as the industrial revolution, imperialism, and advances in transportation and technology. It then lists several advantages and disadvantages of international trade. The main body of the document outlines six economic theories of international trade law: Mercantilist Theory, Classical Theory (including Absolute and Comparative Cost Advantage), Heckscher-Ohlin Theory, and several New Trade Theories including Neo-Technological, Intra-Industry, and Strategic Trade Policy models. Each theory is concisely described.
This document discusses several theories of international economics, including: mercantilism, absolute advantage, comparative advantage, Heckscher-Ohlin theory, and Heckscher-Ohlin-Samuelson theorem. It also covers international trade protections, foreign exchange markets, currency exchange rates, balance of payments, and the history and principles of agrarian reform laws in the Philippines.
The document discusses the World Trade Organization (WTO) and international business. It provides background on the WTO, noting that it is the most powerful international organization dealing with trade between nations. It aims to help producers, exporters, and importers conduct business. There are arguments for and criticisms against the WTO. The document also discusses what constitutes international business and different types of international firms and strategies companies use for expanding internationally.
International economics studies the economic interactions and interdependence between nations [1]. It examines how trade leads to the allocation of scarce resources to increase economic well-being [2]. International economics also deals with how nations are economically interconnected through trade, financial flows, multinational corporations, and domestic economic policies [3].
International business environment MB-IB-01-MBA-IIIrd SEM-UPTUKartikeya Singh
This document outlines the topics that will be covered in a course on international business environment. The topics include:
1. An overview of international business and the factors that comprise the international environment, including physical, demographic, economic, sociocultural, political, legal and technological factors.
2. Trends in world trade, including the impact of globalization and crises like the 2008 recession, as well as the rise of emerging markets and south-south trade.
3. The various legal and regulatory frameworks involved in international business transactions, including international laws, trade agreements, and differing national regulations regarding issues like advertising, product safety, and contract law.
4. How international business contracts and agreements are structured
IAF605 Week 5 International trade and factor mobility theoryIAF605
The document summarizes key points from Chapter 6 of the textbook on international trade and factor mobility theory. It discusses major theories such as absolute advantage, comparative advantage, factor proportions theory, country similarity theory, and product life cycle theory. It also explains how trade patterns are influenced by country characteristics and how trade and mobility of factors like capital and labor are interconnected on a global scale. Looking ahead, it predicts shifts in trade as economies develop and production becomes more specialized and services-oriented.
The document provides background information on World War 1 and 2. It discusses the key events and consequences of WW1 including the Treaty of Versailles, establishment of the League of Nations, and dissolution of the Ottoman and Austro-Hungarian empires. For WW2, it outlines the allied and axis powers and covers the major invasions by both sides during the war. It also summarizes the Yalta Conference and consequences of WW2 such as the Cold War and establishment of the UN.
The document defines war as an armed contest between independent political units using military force to pursue policy goals. It discusses the causes of World War 1, including nationalism, alliances, and the assassination of Archduke Franz Ferdinand. The key events of the war are summarized, from the Schlieffen Plan to the Christmas truce. Major consequences included the collapse of several empires, emergence of new states, and the signing of peace treaties like Versailles.
Week no 2 (5 12) international organizationsDildar Ali
The document provides information on several international organizations including the United Nations, European Union, NATO, Shanghai Cooperation Organization, Organization of Islamic Cooperation, Non-Alignment Movement, and other regional organizations such as the Asian Development Bank, Commonwealth, and World Trade Organization. It outlines the purpose, structure, and membership of these different intergovernmental organizations.
This document provides a summary of the history of Pakistan from ancient times to its independence in 1947. It discusses the arrival of various groups including Aryans, Muslims, Portuguese, and English. Key events leading to the establishment of Pakistan are highlighted such as the Minto-Morley Reforms, the Lahore Resolution of 1940, and the independence of Pakistan in 1947. The administrative units and political map of Pakistan are also briefly outlined.
The solar system consists of the Sun and objects that orbit around it. It formed from a large cloud of gas and dust collapsing under gravity around 4.6 billion years ago. The Sun provides energy to the solar system in the form of radiation. There are 8 major planets that orbit the Sun at varying distances and speeds, with Earth being the third planet from the Sun.
Map reading, geography and geographic termsDildar Ali
This document provides an overview of map reading and geography of Asia. It defines key concepts in cartography like types of maps. It then discusses key geographical features of Asia like its large landmass, diverse climates and weather, and desert regions. Major countries are identified by area and population. The document outlines the major civilizations that originated in Asia and demographics on religion and population across the continent.
The document summarizes Pakistan's foreign policy approaches during different eras of the Cold War:
1. Era of Neutrality (1947-1953): Pakistan remained neutral and did not join military alliances in the early Cold War period.
2. Era of Alliances (1954-1962): Pakistan joined anti-communist alliances like CENTO and SEATO for economic and military aid but reconsidered due to lack of US support on Kashmir.
3. Post-Cold War (1990-2001): With the Soviet Union's collapse, Pakistan faced pressure to rollback its nuclear program and was sidelined on Kashmir by the sole superpower US.
The document provides an overview of realism and idealism in international relations. [1] Realism emphasizes that nation-states are motivated by national interests and pursue power, while idealism stresses peace and cooperation between states. [2] The document outlines the key assumptions and types of realism, and discusses thinkers like Thomas Hobbes and the Peloponnesian War. [3] It also defines idealism as promoting universal ethics, peace, and limiting the use of military force between states.
This document provides an overview of Marxism by discussing capitalism, socialism, and communism. It defines capitalism as an economic system where private owners control trade and industry for profit, noting consequences like income inequality and pollution. Socialism is described as a system where the population collectively owns production and wealth is distributed more equally. Finally, communism is defined as a political system with complete government control over a collectively owned economy with no private property and where people work and share resources based on their abilities and needs.
This document provides an overview of the development of international relations in 6 stages:
1) Pre-state relations including the decline of Rome, the role of the church, and rise of monarchs and nobles
2) The age of the territorial state
3) The age of the nation state including innovations, wars, revolutions, and the modern nation state system
4) Non-Western politics including colonialism and imperialism
5) The 20th century including industrialism, World War I, and the division of the world after World War II
6) The post-Cold War world
It then provides more details on some of the subtopics within these stages, such as the political and economic impacts of
China implemented population policies in the 1970s which reduced its fertility rate from 6 to 2.5 by 2015, while India's birth rate fell from 4.7 to 2.5 over the same period. Some states took pronatalist approaches due to lack of education and beliefs that population isn't a problem and governments can afford it, but coercive population policies limit individual freedom and have caused issues like coerced abortion, favoring male children, child brides, and tensions between communism and democracy. Infant mortality has declined while HIV/AIDS remains a major global problem, infecting and killing millions each year.
The document discusses the history and evolution of international trade organizations from GATT to the modern World Trade Organization (WTO). It describes how GATT was established in 1947 to promote global free trade but lacked enforcement capabilities. Key points include:
- GATT negotiations led to trade liberalization but favored developed nations.
- The WTO was established in 1995 to replace GATT and provide stronger rules and a dispute resolution process.
- The document also outlines important regional trade agreements like NAFTA, ASEAN, and EU/US negotiations on T-TIP.
- Both global and regional approaches aim to reduce trade barriers but have different impacts on developed vs. developing economies.
This document defines disease and classifies major types as infectious, deficiency, hereditary, and physiological. It then focuses on three global diseases: HIV/AIDS, cancer, and coronavirus. For each, it discusses causes, symptoms, prevention methods, and how they spread. HIV/AIDS damages the immune system and can lead to AIDS. Cancer is caused by abnormal cell growth. Coronaviruses cause illnesses like COVID-19 with symptoms like fever and cough. Prevention strategies for all three include avoiding risk factors, practicing good hygiene, and social distancing. The document also briefly mentions some other diseases.
The document discusses several global diseases including HIV/AIDS, cancer, and coronavirus. It describes the causes, symptoms, and prevention methods for each disease. HIV/AIDS progresses to AIDS after 8-10 years of untreated infection and severely damages the immune system. Cancer refers to abnormal cell growth that can infiltrate tissues. Coronaviruses are a family of viruses that cause illnesses like the common cold, SARS, and MERS. The COVID-19 coronavirus pandemic has highlighted the importance of prevention through social distancing and hand washing. Understanding these widespread diseases helps combat their health impacts around the world.
This document summarizes key topics related to the environment and pollution from an international relations textbook. It discusses collective goods like a sustainable natural environment and the tragedy of the commons involving resource depletion. It then covers various solutions to environmental collective action problems like regimes, international organizations, and epistemic communities. Specific issues covered include global warming, its causes from greenhouse gas emissions, and impacts like sea level rise and weather changes. The UN Environment Program and Intergovernmental Panel on Climate Change are mentioned as responses. The Kyoto Protocol and efforts to replace it like the Paris Agreement are also summarized. Ozone depletion, the causes and impacts, and the Montreal Protocol response are briefly outlined as well.
The document provides information about several international organizations:
The United Nations was formed in 1945 to promote international cooperation and peace. It has pillars focused on security, economic development, and human rights. The UN has programs and agencies like UNICEF, UNHCR, and autonomous bodies including the WHO.
NATO was formed in 1949 by Western countries to provide collective security against the Soviet Union. Its main purpose is to protect member allies under Article 5. The US funds three quarters of NATO's budget.
The Non-Aligned Movement was established in 1961 by countries not formally aligned with or against any major power bloc. It aims to promote cooperation and represent the interests of developing countries.
The Organization of Islamic
The document provides an overview of international relations and world wars. It defines key terms like world war and discusses the major Allied and Central powers in World War I and II. It outlines some of the major causes of each war such as nationalism, militarism, alliances, and the consequences of World War I like the Treaty of Versailles. Key events of both world wars are summarized such as invasions by the Axis powers and responses by Allied powers. The document also discusses the origins and impacts of the Cold War that followed World War II.
Lecture no. 19 & 20 why currency fall fdi and mn csDildar Ali
The document discusses several topics related to international economics including:
1) Supply and demand factors that influence currency values such as a government printing money which can lower prices but increase inflation, and political stability influencing demand.
2) Achieving currency stability is difficult as exchange rates are unpredictable and disrupt business planning, and countries may prefer a lower value currency to promote exports.
3) Foreign direct investment can take horizontal, vertical and conglomerate forms, and has benefits like economic growth but also risks like disrupting local industries.
This document provides an overview of global currency systems and exchange rates. It discusses different types of currencies including hard currencies from stable countries/superpowers that can be readily converted to major currencies, and soft currencies from less stable countries that carry higher investment risk. The document also outlines historic currency systems like the gold standard and Bretton Woods system of fixed exchange rates, as well as current floating exchange rate systems. Hyperinflation is defined as an extreme rise in prices that some developing nations have experienced.
Lecture no. 17 world trade organization and regional trade agreementDildar Ali
The document discusses various trade organizations and agreements including:
- The General Agreement on Tariffs and Trade (GATT) which was established in 1947 and became the World Trade Organization (WTO) in 1995.
- Important rounds of GATT negotiations including the Kennedy, Tokyo, and Uruguay rounds which established the WTO and expanded trade rules.
- Regional trade agreements like the North American Free Trade Agreement (NAFTA) between the US, Canada, and Mexico, and proposals for further agreements in other regions.
- Other existing regional organizations and trade blocs in Asia (ASEAN), South America (Mercosur), the Caribbean (CARICOM), and former Soviet states (CIS).
4. DEFINITIONTO 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 are
affected by global events.
5. DIFFERENCE BETWEEN INTERNAL AND EXTERNALTRADE
Factor Mobility,
Labour, Capital
Product Mobility,
Import and Export
duties
Economic
Environment
Monetary Units
7. ADVANTAGES OF INTERNATIONAL
TRADE
In reaping the benefits of specialization
Standard of living generally improves
Benefits of large scale production
Expansion of Markets
benefits of decreasing cost of production
increase competition
promote beneficial political links with ECO,
SAARC,
regional and worldwide integration
8. Expansion inTrade AfterWorld
War-II
■ Productive technology
■ Demand of new Resources
■ Materialism
■ Advancement inTransportation
■ FreeTrade Philosophy: David Ricado
■ Pattern of InternationalTrade N-N (66%), N-S (30), S-S (5.1%)
9. Terms ofTrade & Its
Significance
Terms ofTrade means the
relationship between the
price of a nation’s export
and the price of its
imports. It shows the rate
at which the export of a
country exchange for its
imports.
■ Impacts of import and
export
■ terms of trade improve
balance of payment
■ unfavorable terms of
trade require foreign aid
to remedy loss.
10. D
i
s
c
u
s
s
i
Trade is not only an
economic issue but a highly
political one. IPE:
International Political
Economy
12. MERCANTILISM
An economic theory and a political ideology
opposed to free trade, it shares with realism the
belief that each state must protect its own
interests without seeking mutual gains though
international organization (Joshua.p.272)
13. Important Points: Mercantilism
■ Realist approach
■ Dominance Core Principle
■ Anti-Marxist approach
■ Trade in bullion only (EIC, 1500-18)
■ Zero Sum Game
■ Economy for military strength
■ To translate wealth into military power
■ Self reliance
■ Non reliance on INOs, Govt full control
over trade
■ Protect interests at expenses of others
■ rejects the framework of mutual gain
Note: Mercantilist believe that the outcome
of economic negotiations matters for
military power.
14. MERCANTILISM
Wealth translated into military power
Restrictions on imports
Government investment in research and development to
maximize efficiency and capacity of the domestic industry.
Allowing copyright/intellectual theft from foreign companies.
Limiting wages and consumption of the working classes to
enable greater profits to stay with the merchant class.
15. EXAMPLES OF MERCANTILISM
Under the British Empire, India was restricted in buying from
domestic industries and were forced to import salt from the UK.
Protests against this salt tax led to the ‘Salt tax revolt’ led by
Gandhi.
Some have accused China of mercantilism due to industrial
policies which have led to an oversupply of industrial production
– combined with a policy of undervaluing the currency.
16. LIBERALISM
In the context of international political economy
(IPE) an approach that generally shares the
assumption of anarchy but doesn’t see this
condition as precluding extensive it emphasis
absolute over relative gains and in practice, a
commitment to free trade, free capital flows, and an
open world economy. (Joshua.p.272)
17. Important Points: Liberalism
■ Liberal approach
■ Reciprocity Core Principle
■ Anti-Marxist approach
■ Economy for exchange
■ To translate wealth into gain or loss; gain for one, loss for another
■ Self reliance
■ Non reliance on INOs
■ Protect interests at expenses of others
■ rejects the framework of mutual gain
Note: Mercantilist believe that the outcome of economic negotiations matters for
military power.
18. LIBERALISM
Removing Barriers to International Investing
Unrestricted Flow of Capital
Political Risks Reduced
By building organization and institutions states can mutually
benefit from economic exchange
Shared interest in economic exchange
19. Liberalism Mercantilism
Economic Relations Harmonious Conflictual
Major Actors Households, Firms , states’ role
mini
States, it’s role max
Goal of Economic Activity Maximize global welfare, efficiency Serves the national interest,
distribution
Trade Trade is always beneficial, increase
in product quality
FreeTrade
Resources and benefits of trade
goes to state
Protectionism
Raw Material raw material processed by other
states
Raw material gathered and
process
Difference between Mercantilism and Liberalism
20. DEFINITIONTO ABSOLUTE ADVANTAGE
In economics, the principle of absolute
advantage refers to the ability of a party to
produce a good or service more efficiently
than its competitors.
22. DEFINITIONTO COMPARATIVE
ADVANTAGE
The Principle that says states should specialize
in trading goods that they produce with the
greatest relative efficiency and at the lowest
relative cost. (Joshua.p.277)
23. EXAMPLES OF COMPARATIVE
ADVANTAGE
Japan and Saudi Arabia
Transaction Cost:Transportation,
information processing
Example of US manufacturing company
Comparative advantageVs absolute
advantage, next slide
24.
25. FREETRADE
Prof. Lipsey
A world of Free Trade would be one with no tariffs
and no restrictions of any kind on importing or
exporting. In such a world, a country would import
all those commodities that is could buy from aboard
at a delivered price lower that the cost of producing
them at home.
26. IMPORTANCE OF FREETRADE
The exponent of free trade argue that no any good is imported
unless its net price to buyers is below then domestic one.
Free of Captive Market
Promotes world cooperation
Improve organization and methods of production
Competitive Markets
Prevent Monopolies
it brings, technology, foreign capital, ideas, skills to developing
countries
27. PROTECTIONISM
In international trade the term protectionism refers
to a policy whereby domestic industries are
protected from foreign completion through the
imposition of tariffs and non tariff barriers, the aim
is to impose restrictions on the imports of low price
products in order to encourage domestic industries
producing high priced products.
28. IMPORTANCE OF PROTECTIONISM
Protectionism saves jobs/ employment/ end unemployment
Control unfair trade practices- dumping, subsidies
reduce dependency
Free trade increase sanctions-Protectionism is solution
Protectionism save infant industries
reduce quality of goods
increase sellers