|
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. 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 do not change fundamentally regardless of 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 culture. Another difference between domestic and international trade is that factors of production such as capital and labour 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 goods and services can serve as a substitute for trade in factors of production. Instead of importing a 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. International trade uses a variety of currencies, the most important of which are held as foreign reserves by governments and central banks. Here the percentage of global cummulative reserves held for each currency between 1995 and 2005 are shown: the US dollar is the most sought-after currency, with the Euro in strong demand as well.From Wikipedia under the
GNU Free Documentation License What is the purpose of international trade dumping? Q. What is the purpose of international trade dumping? Asked by dawpa2000 - Fri Oct 2 11:25:47 2009 - - 1 Answers - 0 Comments A. Increase sales in that country, even at a reduced or government funded sales price, in order to stabilize employment and reduce international trade deficits Answered by jwishz - Fri Oct 2 22:15:18 2009 What are the Pro and cons of Joint ventures when doing international trade? Q. Joint ventures are becoming more and more common in today's high technology world. Discuss the pros and cons of this method of international trade. This is the question i have to answer for my homework assignment and i cant seem to answer it please help thanks Asked by krissy t - Mon Feb 11 21:07:11 2008 - - 1 Answers - 0 Comments A. Advantages Entering new markets Reducing manufacturing costs Developing and diffusing new technologies Long term business relationships Share costs/lower costs Gain knowledge/skills/abilitie s Added distribution channels Flexibility Disadvantages Proprietary information might be shared Long term commitment Answered by ray.deezy - Tue Feb 12 20:23:59 2008 What are the disadvantages to International Trade?
Q. It doesn't necesary have to be a very strong point or the obvious, anything that involves with the disadvantages of International Trade so fill this Q&A as much as your awesome mind can work it! This is for my international business debate team, we're on the con side! >:D remember only disadvantages! Asked by chopzsite - Tue Feb 19 09:57:46 2008 - - 3 Answers - 0 Comments A. Remember what caused the war of 1812? That's one disadvantage. Answered by Qiyuan Z - Tue Feb 19 10:10:39 2008 From Yahoo Answer Search: "International trade"
See also:
 telegraph.co.uk Sat, 04 Sep 2010 17:39:40 GMT+00:00 liberalisation more than the East Telegraph.co.uk While I accept that some see international trade negotiations as an arcane subject, I do not accept the view that completing the Doha Round of trade ... Globalism Destroys America: 10 Reasons Why The World Trade Organization Is Bad ... Benzinga WTO chief wants G20 push on global trade deal Economic Times  huffingtonpost.com Sun, 05 Sep 2010 15:52:00 GMT+00:00 Huffington Post (blog) More than 100 union activists were killed in 2009, according to a report released this summer by the International Trade Union Confederation (ITUC). ...  cjnews.com Wed, 08 Sep 2010 04:47:28 GMT+00:00 Canadian Jewish News toronto international Trade Minister Peter Van Loan and Peter Kent, minister of state of foreign affairs (Americas) ... From Google News Search: "International trade"  abanet.org 316px x 475px | 37.00kB [source page] St Volodymyr s Cathedral  abanet.org 316px x 475px | 58.40kB [source page] From Yahoo Image Search: "International trade"  suite101.com unknown Fri, 08 Sep 2006 08:00:00 GM Outdone only by China, India has been the second fastest-growing country during the past 15 years. So why is India home to 40% of the world's poor? From Google Blog Search: "International trade"  video.google.com Wed, 08 Apr 2009 07:48:59 PDT Great Decisions 2007 Specials - Guests: Daniel Drezner, Professor of international politics, Fletcher School of Law and Diplomacy, Tufts ... video.google.com.  fora.tv Fri, 11 Dec 2009 00:00:00 PST Senior Fellow at the European Center for International Political Economy and former chief Asia Commentator and World Trade Editor of the Financial ... fora.tv.  youtube.com Mon, 16 Nov 2009 17:58:42 PST Discussing September's international trade numbers, with CNBC's Steve Liesman, Rick Santelli and Jeff Carter, independent trader; Gary ... youtube.com. From Google Video Search: "International trade" |
Thunderlake: Functional Trade Policy Issues
EUROPA - External Trade
The Fair Trade Page
