This presentation explains the views of international trade given by mercantilists and neo-mercantilists. it also presents a case study that shows mercantilism is still alive! Moreover, it also shows it's implication in US-CHINA Trade War.
International trade is the exchange of capital, goods, and services across international borders or territories.
international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, salt roads), its economic, social, and political importance has been on the rise in recent centuries.
To understand the pattern in international trade, Different trade theories are postulated. Some famous trade theories are:
Mercantilism
Absolute Advantage Theory
Comparative Advantage Theory
Hecksher-Ohlin Factor endowment theory
Product Life Cycle Theory
New Trade Theory
Porter’s Diamond Theory for competitive advantage
Restrictions on imports – tariff barriers, quotas or non-tariff barriers.
Accumulation of foreign currency reserves and gold and silver reserves. (known also as bullionism)
Granting of state monopolies to particular firms especially those associated with trade and shipping.
Subsidies of export industries to give competitive advantage in global markets.
Government investment in research and development to maximize efficiency and capacity of 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.
Control of colonies, e.g. making colonies buy from Empire country and taking control of colonies wealth.
England Navigation Act of 1651 prohibited foreign vessels engaging in coastal trade.
All colonial exports to Europe had to pass through English first and be re-exported to Europe.
Under British Empire, India restricted in buying from domestic industries and were forced to import salt from the UK. Protests against this salt tax, led to ‘Salt tax’ revolt led by Gandhi.
In seventeenth Century France, the state promoted a controlled economy, with strict regulations about the economy and labour markets
In the modern world, mercantilism is sometimes associated with policies, such as.
Undervaluation of currency e.g. government buying foreign currency assets to keep the exchange rate undervalued and make exports more competitive.
Government subsidy of industry for unfair advantage. China has been accused of offering too much subsidised investment for industry, leading to over supply of industries such as steel – meaning other countries struggle to compete.
Surge of protectionist sentiment, e.g. tariffs on imports.
Copyright theft
International trade is the exchange of capital, goods, and services across international borders or territories.
international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, salt roads), its economic, social, and political importance has been on the rise in recent centuries.
To understand the pattern in international trade, Different trade theories are postulated. Some famous trade theories are:
Mercantilism
Absolute Advantage Theory
Comparative Advantage Theory
Hecksher-Ohlin Factor endowment theory
Product Life Cycle Theory
New Trade Theory
Porter’s Diamond Theory for competitive advantage
Restrictions on imports – tariff barriers, quotas or non-tariff barriers.
Accumulation of foreign currency reserves and gold and silver reserves. (known also as bullionism)
Granting of state monopolies to particular firms especially those associated with trade and shipping.
Subsidies of export industries to give competitive advantage in global markets.
Government investment in research and development to maximize efficiency and capacity of 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.
Control of colonies, e.g. making colonies buy from Empire country and taking control of colonies wealth.
England Navigation Act of 1651 prohibited foreign vessels engaging in coastal trade.
All colonial exports to Europe had to pass through English first and be re-exported to Europe.
Under British Empire, India restricted in buying from domestic industries and were forced to import salt from the UK. Protests against this salt tax, led to ‘Salt tax’ revolt led by Gandhi.
In seventeenth Century France, the state promoted a controlled economy, with strict regulations about the economy and labour markets
In the modern world, mercantilism is sometimes associated with policies, such as.
Undervaluation of currency e.g. government buying foreign currency assets to keep the exchange rate undervalued and make exports more competitive.
Government subsidy of industry for unfair advantage. China has been accused of offering too much subsidised investment for industry, leading to over supply of industries such as steel – meaning other countries struggle to compete.
Surge of protectionist sentiment, e.g. tariffs on imports.
Copyright theft
The theory of comparative advantage, first developed by English economist David Ricardo in 1817, is a theory about the potential gains from trade for companies, countries or people that arise on account of differences in factor endowments or technological progress.
Foreign trade has worked as an "engine of growth" in the past, and even in more recent times the "outward oriented growth strategy" adopted by the Newly Industrializing Economies of Asia, including South Korea, Taiwan, Singapore and Hong kang, has enabled them to overcome the constraints of small resource poor under developed economies Notwithstanding a strong belief in Prebisch Singer and Myrdal thesis at some point of time in the history of international economic relations,
the free trade paradigm in the current WTO administered era has thrown open innumerable opportunities for growth.
This presentation is made by Palm & Latex Technology & Value Addition degree programme students in Uva Wellassa University of Sri Lanka as to fulfill a requirment for their course of Trade & Finance. In this presentation is generally related to Sri Lanka.
The theory of comparative advantage, first developed by English economist David Ricardo in 1817, is a theory about the potential gains from trade for companies, countries or people that arise on account of differences in factor endowments or technological progress.
Foreign trade has worked as an "engine of growth" in the past, and even in more recent times the "outward oriented growth strategy" adopted by the Newly Industrializing Economies of Asia, including South Korea, Taiwan, Singapore and Hong kang, has enabled them to overcome the constraints of small resource poor under developed economies Notwithstanding a strong belief in Prebisch Singer and Myrdal thesis at some point of time in the history of international economic relations,
the free trade paradigm in the current WTO administered era has thrown open innumerable opportunities for growth.
This presentation is made by Palm & Latex Technology & Value Addition degree programme students in Uva Wellassa University of Sri Lanka as to fulfill a requirment for their course of Trade & Finance. In this presentation is generally related to Sri Lanka.
The ongoing tradewar between US and China is reaching alarming proportions and has to be seen as a war for international supremacy in Technology and Power
1. Three significant transition happened in Mexico
I. Replacing a primarily agricultural based economy to an industrial based economy.
II. Shift from closed economy to an open economy.
III. Increasing private ownership and reducing public ownership throughout the economy.
2. Mexico Current Status
I. Unemployment 5.18%
II. Inflation 4.15%
III. 14th largest nominal GDP
3. Trade
I. Trade is mostly done with the United States.
II. Imports: Machines and Industrial equipment.
III. Exports: Agricultural and manufactured goods
IV. FDI in telecommunication and energy.
4. Trade Openness and Protectionism Today
I. Experienced huge trade liberalization from 1989 to 2000
a. Widening the gap between rural and urban area.
b. Diverse effect on wage rate
c. Reduced poverty by about 3%; bringing 3 million individuals out of poverty.
5. FDI and Migration Policies
I. One of Mexico’s main points in writing the NAFTA agreement is that an increase of FDI will decrease Mexican immigration to other countries.
II. On average doubling of FDI will lead to 1.5 – 2% decrease in migration.
III. Mexico doubled FDI from 2012 to 2013 with nearly 35.2 Billion.
6. Changes in Mexico’s Trade and FDI
I. Past
II. Present
7. Causation
I. Market Structures - Liberalization and privatization of various industries
II. Technologies - Have improved infrastructure immensely over the past 20 years
III. Political Factors - Cartels have distorted the influence of their judicial system.
8. International Engagement
I. Free trade Agreements (FTA) have been one of the primary reasons behind Mexico’s recent economic growth and emergence as a low supplier of goods.
II. NAFTA - Increase trade and FDI between Mexico and the US
US-China Trade Conflict: Potential Trade Opportunities and Investment in Bang...Ashok Bala
Since 2018, the multilateral trading system has challenged by the United States’ unilateral decisions of raising import tariffs on certain trading partners, especially with China.
This decision was taken based on the continuous increase in the trade deficit.
This trade war affected the world economy negatively but it has potentially positive effects on developing countries like Bangladesh.
US-China Trade Conflict: Potential Trade Opportunities and Investment in Bang...Ashok Bala
In the context of the escalating trade war between the US-China, this paper looks at the potential impact on Bangladesh. I show that this trade war is hurting the global trading system but at the same, it has also brought some benefits for developing countries including Bangladesh. I use protectionist methods to evaluate US unilateral behavior in the global market. In the finding sections, I discuss how Bangladesh can be benefited from the ongoing trade war. First of all, I discuss the factory relocation from China to another country then I discuss the apparel industry, in this regard, I show that Bangladesh is the advantage position. Secondly, I discuss the potential opportunity of the agricultural sector for Bangladesh. Then, I discuss steel & aluminum. Then finally I evaluate the finding of this study.
A simple explanation of Regression | Regression versus Causation | Regression versus Correlation
The presentation aims at explaining the basic concept of regression. It also shows how regression is different from causation and correlation.
For further explanation, checkout the youtube link: https://youtu.be/SELNQs9b-XY
Identification problem in simultaneous equations modelGarimaGupta229
In this presentation, identification problem is explained with the example of Supply and Demand equilibrium and why identification problem arises. In addition, the rank and order conditions are also introduced.
For further explanation, checkout the youtube link:
https://youtu.be/PyU_RJJspfE
The presentation aims to explain the meaning of ECONOMETRICS and why this subject is studied as a separate discipline.
The reference is based on the book "BASIC ECONOMETRICS" by Damodar N. Gujarati.
For further explanation, check out the youtube link:
https://youtu.be/S3SUDiVpUGU
This presentation explains various monetary instruments being adopted by the Reserve Bank of India. It also shows their impact on stock market. It also show the statistic trend of inflation, repo rate, reverse repo rate, etc in India.
This presentation gives basic information about World Trade Organization. it shows various aspects of WTO. It also contains a case study of United States based on gasoline followed by panel discussion views regarding the case study.
This presentation is based on various issues faced by women in agricultural services and the reasons why gender-sensitization schemes are not widely accepted.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
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USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
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how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
2. Mercantilism:
■ Collection of the economic thought that came into existence in Europe during the period 1500-
1750.
■ It is also referred as the political economy of state building.
■ Three components of economic system : a manufacturing sector, a rural sector and the foreign
colonies.
■ They viewed merchants as the most successful group of economic system and labour as the most
basic factor of production.
■ They employed a labour theory of value i.e., commodities were valued relatively in terms of
their relative labour content.
■ Mercantilists pursued policies that kept wages low.
3. Mercantilist’s views on trade:
■ Mercantilism is an economic theory of international trade with a purpose of building a
wealthy nation.
■ Wealth of a nation = stock of precious metals accumulated
■ A nation can become rich and powerful when : EXPORTS > IMPORTS
■ Government intervention:
Maximise exports
Minimise imports
It enhances national output and employment.
■ One nation can gain only at the expense of other nations i.e., trade is a ZERO-SUM GAME.
4. Neo-Mercantilism:
■ It is a policy regime which is concerned with enriching and empowering the nation to the
maximum possible degree.
■ It involves ECONOMIC PROTECTIONISM i.e.,
protection of domestic producers by discouraging value-added imports through tariffs;
structural barriers to prevent entry of foreign companies into domestic market;
manipulation of currency value against foreign currencies to encourage exports.
■ OBJECTIVE: to increase the level of foreign reserves held by the government, allowing more
effective monetary policy and fiscal policy.
5. Mun’s Mercantilist views on trade:
■ Sir Thomas Mun : the director of the East India Company took a prominent role during the
economic depression of 1620.
■ He says in England's Treasure by Foreign Trade, we must "sell more to strangers yearly than we
consume of theirs in value."
■ To achieve the positive balance of trade, he laid out a list of criterion for England to follow:
-Imported goods that can be produced domestically should be banned.
-Reduce luxurious imported goods by making Englishmen have a taste for English goods.
-Reduce export duties on goods produced domestically for foreign markets.
-Charge more money for the exports if no alternatives are available to the neighbours.
-Cultivate wasteland for higher production and to reduce the amount of imports needed from abroad.
6. Mercantilism
is still alive!
Mercantilism laid the foundation for
today's nationalism and
protectionism.
Most nations restrict imports in order
to protect domestic employment from
foreign competition and to encourage
domestic high-tech industries.
This is evidenced by numerous trade
disputes among various countries that
have arisen over time.
For instance, disputes between the
United States and the European
Union and other developed and
developing countries.
7. Donald Trump’s trade policy: steel and aluminium
tariffs
■ Trump’s policies follow a form of neo-mercantilism and
focus on economic nationalism.
■ He is also concerned about the US trade deficit and has
focused first on restricting imports.
■ Trump’s administration has worked to seal the United
States off behind higher tariffs on goods such as
aluminum, steel, washing machines and Chinese
industrial products.
■ The White House announced import levies— 25% on
steel and 10% on aluminium— to all of America’s
trading partners, including close allies such as Canada
and the E.U.
8. Reasons behind Trump’s policy:
1. Trade Deficit : Value(imports) > Value(exports)
U.S. imported goods and services worth US$182.5 billion in 2017, while exporting
$121.2 billion, for a deficit of $61.2 billion.
9.
10. 2. China mercantilism:
-China dumping: in which manufacturers export a product to another country at a price below
the normal price.
-China employs unfair trade practices related to intellectual property and technology
transfers.
-Its excess steel production on world markets and depressing prices leads to problems for
American steel producers and American steel workers.
-China has built a huge steel industry that now produces more than 10 times as much output
as the U.S. steel industry does.
-The White House imposed tariffs of 25% on more than a thousand Chinese goods, affecting
about $46.2 billion of U.S. imports.
-US imposed tariffs not only on China but also on Canada and European Union because it
was necessary to prevent China from shipping steel and aluminum to the United States via
third countries.
-Restricting imports was necessary to boost domestic production and bring operations at U.S.
steel mills up to 80% of their capacity, citing national security concerns.
11. After the imposition of tariffs by Trump, China announced it would impose
retaliatory tariffs of a similar scale on U.S. goods exported to China, including
aircraft and autos. That Chinese move prompted another escalation from Trump,
who threatened to impose an additional 100 billion dollars’ worth of levies on
Chinese goods. In 2018, these mercantilist policies in the United States and China
launched a TRADE WAR.
12. Other policies of Trump’s administration for
national protectionism:
■ Immigration policies
-Trump imposed immigration policies followed mercantilism because it takes jobs away from
domestic workers. Trump's "America First" program seeks primarily to protect American workers
and industries. For example, he promised to build a wall on the border with Mexico.
■ Unilateral trade approach
-Trump’s unilateral trade moves are an effort to compel China and others to make concessions.
He believes that multilateral agreements benefit corporations at the expense of individual
countries.
13. References:
■ International Economics by Dominick Salvatore
■ International Economics by Dennis R. Appleyard and Alfred J. Field, JR.
■ https://en.wikipedia.org/wiki/Mercantilism
■ https://www.marketwatch.com/story/how-to-understand-trumps-trade-policy-its-about-
restricting-imports-2018-07-25
■ https://www.thebalance.com/mercantilism-definition-examples-significance-today-
4163347
■ http://www.adividedworld.com/economic-ideas/modern-day-mercantilism/
■ https://www.newyorker.com/news/our-columnists/what-is-donald-trumps-trade-policy-
nobody-knows