《世界经济概论(英文版)chapter01InternationalTrade课件.pptx》由会员分享，可在线阅读，更多相关《世界经济概论(英文版)chapter01InternationalTrade课件.pptx（23页珍藏版）》请在三一办公上搜索。
1、Chapter 1International Trade,Chapter 1International Trade,In this chapter, well cover:,Reasons and Effects of International TradeDevelopment of International Trade TheoriesBenefits of Free TradeTrade BarriersArguments for Trade ProtectionGATT and WTO,In this chapter, well cover:R,International Trade
2、,Definition: 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.,International TradeD
3、efinition:,世界经济概论(英文版)chapter-01-International-Trade课件,世界经济概论(英文版)chapter-01-International-Trade课件,Reasons and Effects,Comparative advantage e.g.chartered accountant or painter?Opportunity costNote: absolute advantage,Reasons and EffectsComparative,Reasons and Effects,An economys annual GDP: C+I+G+(
4、X-M)Trade surplus and trade deficitExports and imports Exchange rate: appreciation and depreciation competitive devaluation,Reasons and EffectsAn economy,Development of International Trade Theories,MercantilismAbsolute advantageComparative advantageFactor endowmentsInternational product life cycleNe
5、w trade and national competitive advantage,Development of International T,Development of International Trade Theories,Government intervention: tariffAdam Smith: absolute advantage “the invisible hand”David Ricardo: comparative advantage,Development of International T,Development of International Tra
6、de Theories,H-O model: factors of productionRaymond Vernon: International product life cycle theoryThe late 1970s and early 1980s: New trade theory,Development of International T,Benefits of Free Trade,Promotes competition and deters monopolyIncreased variety of goods and services available to consu
7、mersFree trade has led to prosperity and growth and that protectionism has had the opposite effects,Benefits of Free TradePromotes,Trade Barriers,Tariffs: specific Tariffs and Ad Valorem Tariffs revenue tariff protective tariffnon-tariff barrier (NTB):licenses and quotas Quota: import and export quo
8、taVoluntary export restraint (VER)StandardsSubsidy,Trade BarriersTariffs: specifi,Arguments for Trade Protection,National security argument：self-sufficiencyIncreased domestic employment argument: Job creation from imports Fallacy of composition Possibility of retaliation Long-run feedbacks,Arguments
9、 for Trade Protection,Arguments for Trade Protection,Diversification for Stability ArgumentInfant-industry argumentProtection against dumping argumentCheap foreign labor argumentThe retaliation argument,Arguments for Trade Protection,GATT and WTO,GATT: General Agreement on Tariffs 1947Three principl
10、es: 1. equal, non-discriminatory trade treatment for all member nations; 2. the reduction of tariffs by multilateral negotiation; 3.the elimination of import quotas.,GATT and WTOGATT: General Agre,GATT and WTO,WTO: World Trade OrganizationSix key objectives: (1) to set and enforce rules for internat
11、ional trade (2) to provide a forum for negotiating and monitoring further trade liberalization (3) to resolve trade disputes,GATT and WTOWTO: World Trade O,GATT and WTO,(4) to increase the transparency of decision-making processes, (5) to cooperate with other major international economic institution
12、s involved in global economic management, (6) to help developing countries benefit fully from the global trading system,GATT and WTO(4) to increase th,GATT and WTO,Three purposes of WTO rules1.Protect the interests of small and weak countries against discriminatory trade practices of large and power
13、ful countries,GATT and WTOThree purposes of,GATT and WTO,2. require members to limit trade only through tariffs and to provide market access not less favourable than that specified in their schedules 3. designed to help governments resist lobbying efforts by domestic interest groups seeking special
14、favours,GATT and WTO 2. require member,Study Questions,Study Questions,Study Questions,1.Why do nations engage in international trade?2.How does a countrys international trade affect its exchange rate?3.What are some of the important theories of international trade?,Study Questions1.Why do natio,Stu
15、dy Questions,4.What happened to world trade in the 1930s? Why did it happen?5.What are the arguments in favor of trade protection? How valid are they? 6.What are the functions of the WTO as an organization for liberalizing trade?,Study Questions4.What happene,世界经济概论(英文版)chapter-01-International-Trade课件,
