We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

International trade - Essay Example

Comments (0)
Summary
International Trade Name University Name . Contents Contents 2 1) Introduction 3 Body 3 2)Advantages of International Trade 3 Disadvantages of International Trade 4 3)Major Trading Partners of UAE 4 4)Most Important Exports OF UAE 4 5)Trade Policy of UAE 4 6)Analogy between Child Labour and Free Trade: Ha-Joon Chang 5 7)Short term Disadvantage of protectionism 5 8)Sector favourable to Protectionism in UAE 6 9) Using expensive and inferior products 6 10) Protectionism as a waste of time 6 11) Conclusion 6 References 8 International Trade 1) Introduction International trade means the exchange of goods, services and capital between nations…
Download full paper
GRAB THE BEST PAPER

Extract of sample
International trade

Download file to see previous pages... China and the south East Asian countries such as Singapore have been in focus for their export based economies (Rivera-Batiz & Oliva, 2003). External trade is usually heavily controlled by countries by applying duty against imports and subsidizing exports. Free trade means the government does not discriminate against national and foreign producers of goods. The price of goods is determined through the equilibrium of supply and demand. A country which allows free trade does not impose high import duties and neither does it subsidize its exports through schemes and promotions. Body 2)Advantages of International Trade The major advantages of international trade are – It enhances the competitiveness of local industries as they come into contact with international best practices and technological knowhow. It helps the country to overcome the shortage in natural resources. One example is the import of crude oil by many countries to overcome the natural deficiency. International trade allows consumers to buy products at low cost. An example of this has been the proliferation of manufacturing industries to China. Manufacturing goods produced in China are low cost and thus leads to benefits to the end users. International trade can be a vehicle for poverty reduction. China has increased its GDP rapidly in the last 20 years by becoming an export hub for international companies. This has reduced poverty and created employment for a billion Chinese (Rivera-Batiz & Oliva, 2003). Disadvantages of International Trade Some of the main disadvantages are – International trade can lead to destruction of local industries if they are not able to compete with the cheap products imported from abroad. International trade can lead to jobless growth of the economy. This can cause social unrest among the population. India is a country whose exports largely consist of services such as Information technology. However IT is a capital intensive sector which creates very few jobs leading to large scale unemployment in the country. International trade can also lead to depletion of natural resources such as coal, iron-ore etc. if they are exported to other countries (Rivera-Batiz & Oliva, 2003). International trade has also caused various environmental and human rights concern. It is alleged that the factories in China and Mexico do not follow the strict environmental guidelines followed in developed world. They are also accused of employing child labour to reduce the cost of products (Rivera-Batiz & Oliva, 2003). 3)Major Trading Partners of UAE The major trading partners of UAE are Japan, China, European Union and India. Japan is UAE’s biggest export partner (17.27% share) and China is the biggest import partner (15.03% share) (Oxford Business Group, 2010). 4)Most Important Exports OF UAE The most important exports from UAE are crude oil, natural gas, fish, dates and products which are re-exported after processing (Zaman, 2011). 5)Trade Policy of UAE UAE signed the General Agreement on Trade and Tariff (GATT) in 1994 and became a WTO member in ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
International trade
The agricultural sector in China also depends on subsidies and the several types of non-tariff barriers geared toward the protection of the sector. These non-tariff barriers are aimed at protecting China’s internal capacity to economically produce agricultural products.
10 Pages(2500 words)Essay
International Trade
Since few decades countries all around the world is taking steps towards trade liberalisation allowing free movement of goods and services among them. They are reducing limitations, and in turn facilitate trade between them. Economic integration at regional as well as at global level through trade and investment are becoming a dominant development strategy across the continent.
10 Pages(2500 words)Essay
International Trade
International Trade Reasons for trade between countries can be simple as well as complicated depending on countries objectives. Availability of different resources in different countries is the simplest reason why countries trade with each other. Maximization is the main idea behind a country’s economy.
4 Pages(1000 words)Essay
International trade
Classical theorists continue to influence modern theorists on international trade with some of their ideas mirroring one another. This paper is going to examine some of the concepts of international trade beginning with the Ricardian model, followed by the Heckscher and Ohlin model.
7 Pages(1750 words)Essay
International trade
Several International conventions lay down the rules for the maritime organisations to follow as they are bound by these rules.Environmental rules have made the shipping difficult; but at the same time, it is definitely necessary as the seawater or seabed pollution could create unfortunate results
6 Pages(1500 words)Essay
International Trade
The output is set for a transaction at a market. The word “trade” has diversified from conventional term as a buying and selling to services and investments, funding etc. The services like customer support and other “information
3 Pages(750 words)Essay
INTERNATIONAL TRADE
The Organization for Economic Co-operation and Development (OECD) countries, in all these years experienced a good amount of rise in their trade volume, share mounting from 12.5 percent to 18.6 percent
8 Pages(2000 words)Essay
International trade
Collective bargaining negotiation between the labor union and Custer officials would constitute an exceptional ground in a common negotiation field. Collective bargaining negotiation is regulated and
1 Pages(250 words)Essay
International Trade
World Trade Organization (WTO) is an institution that has been set up to regulate and look after this aspect of trade. This seems to be a win-win situation for all but there are some political realities that do
1 Pages(250 words)Essay
International trade
However, on the way to delivery from John’s warehouse and Casablanca port, these three containments underwent significant amount of damage due to factors such as theft and climatic impacts. Correspondingly, when the situation has aroused on making a
16 Pages(4000 words)Essay
Let us find you another Essay on topic International trade for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us