世界经济概论（英文版）chapter_01_International_Trade教材教学课件.pptxVIP

Chapter 1International TradeIn this chapter, we’ll cover:Reasons and Effects of International TradeDevelopment of International Trade TheoriesBenefits of Free TradeTrade BarriersArguments for Trade ProtectionGATT and WTOInternational TradeDefinition: the purchase, sale or exchange of goods and services across national borders Increases the number of goods that domestic consumers can choose fromDecreases the cost of those goods through increased competitionAllows domestic industries to ship their products abroad. Reasons and EffectsWhy do nations trade?The distribution of natural, human, and capital resources among nations is uneven; nations differ in their endowments of economic resources. Efficient production of various goods requires different technologies or combinations of resources.Products are differentiated as to quality and other non-price attributes. Some people may prefer certain imported goods to similar goods made domestically.Reasons and EffectsJapan: labor-intensive goodsAustralia: land-intensive goodsIndustrially advanced economies: capital-intensive goodsReasons and EffectsComparative advantage e.g.chartered accountant or painter?Opportunity costNote: absolute advantageReasons and EffectsAn economy’s annual GDP: C+I+G+(X-M)Trade surplus and trade deficitExports and imports Exchange rate: appreciation and depreciation competitive devaluationDevelopment of International Trade TheoriesMercantilismAbsolute advantageComparative advantageFactor endowmentsInternational product life cycleNew trade and national competitive advantageBenefits of Free TradePromotes competition and deters monopolyIncreased variety of goods and services available to consumersFree trade has led to prosperity and growth and that protectionism has had the opposite effectsTrade BarriersTariffs: specific Tariffs and Ad Valorem Tariffs revenue tariff protective tariffnon-tariff barrier (NTB):licenses and quotas Quota: import and export quotaVoluntary export restraint (VER)StandardsSubsi