International Trade

In: Business and Management

Submitted By enigmahead84
Words 1719
Pages 7
International Trade
ECO/212

Introduction International trade has truly expanded to encompass most of the world over the past century. The countries of the world have seen that everyone can benefit from specializing in the production of a certain good or set of goods and by having skilled workers that provide services to others. This trade off in strengths and weaknesses help get some commodities to locations that would otherwise be unable to attain goods or services that they need. The world of trading between countries is ever changing with the advancement in technology that becomes available to countries.
Pros and Cons of International Trade
The importing and exporting of goods across the globe is regulated by the World Trade Organization (WTO). This, like many other organizations have multiple benefits and drawbacks for the parties involved beyond practical application of rules and policies. One major benefit of the WTO is that they allow for trading on neutral ground allowing neither of the parties involved to obtain an unfair advantage during the trade agreement process. Any disputes that arise between two or more trading parties are also handled by the WTO which is also a benefit of having the organization in place. The organization itself acts as a mediator or referee of sorts when it comes to the process of trade between nations across the globe. This type of organization also has drawbacks when it comes to certain real world application in certain aspect. Nothing is perfect but again some of its approaches to policy are only really beneficial in theory. It seems as if the WTO organizations method of operation is business focused with little care as to the effects its agreements have on the populous of the countries involved. When you look at it on paper it seems to work well increasing profits but when something gets dumped it’s the people…...

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...qwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyui opasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjkl zxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmq wertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuio pasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghj klzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbn mqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwwerty uiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdf ghjklzxcvbnmqwertyuiopasdfghjklzxcvbnm INTERNATIONAL BUSINESS INTERNATIONAL TRADE: CANADA, U.S, AND CHINA 3/4/2012 MOKSHA VEERANAH | Abstract The following paper is about Canada’s trading relationship with the United States and China, the foreign exchange policies between the countries, the comparative advantages of each of the countries, Canada’s heavy reliance on the United States, and multilateral trade policy for Canada. Trade situations of Canada-U.S Despite the trade surplus between Canada and the U.S in 2009, there was still a significant decrease compared to the past year, from $78.3 billion to $20.1 billion which is almost a 75% reduction. These losses were incurred due to Canada exporting $224.9 billion worth of goods to the U.S, which fell by 33.8%, and on the other hand, importing $204.7 billion worth of goods from the U.S, which fell by 21.6%. In 2009, only the pharmaceutical preparations exports of $5.0 billion (which are only 2.2% of the......

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