Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

US foreign trade policy in the Middle East: a comparative analysis between Egypt, Jordan and Saudi Arabia - Dissertation Example

Comments (0) Cite this document
The US having lost a large share of the global consumer market to developing countries and other developed was forced to abandon its protectionist stance and to adopt a liberalization approach to foreign trade policies. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER96.4% of users find it useful
US foreign trade policy in the Middle East: a comparative analysis between Egypt, Jordan and Saudi Arabia
Read Text Preview

Extract of sample "US foreign trade policy in the Middle East: a comparative analysis between Egypt, Jordan and Saudi Arabia"

Download file to see previous pages US foreign trade policy in the Middle East: a comparative analysis between Egypt, Jordan and Saudi Arabia

Classical trade theories involve inquiring into and identifying explanations for a trade patterns, trade policies and the “welfare consequences of various trade policy instruments”. David Ricardo, a 19th century economist developed the theory of comparative advantage which is a basic trade theory that informs and explains trade patterns indicative of liberalization. In this regard, comparative advantage assumes that countries in a liberalized world market can succeed on the basis of exchanges in terms of resource advantages. For example, one country has an abundance of agricultural goods and another country has an abundance of automobile parts. The two countries can agree to trade their respective abundant resources to each other at relatively lower cost.
The US trade history and emerging patterns reflects comparative advantages domestically and internationally and tends to suggest a trend toward “global integration of production and distribution”. In terms of trade with the Middle East, the Middle East enjoys a comparative advantage in a number of sectors including crude oil, pharmaceuticals, plastics, colouring materials, footwear, textiles and fabrics. Giving the volatility of the Middle East and the US strong dependence on crude oil from the region, the US comparative advantage in terms of trade with the Middle East is coloured by a need to provide and ensure security in the region. 6 For the Middle East, access to US markets and capital provides virtually an absolute advantage in terms of economic development, technology transfers, improved competition and national production.7 This research study examines US trade policy in the Middle East by reference to case studies on US trade with Egypt, Jordan and Saudi Arabia. The trade policy and practices with each of the three countries are compared and contrasted with a view to demonstrating the extent to which the Ricardian doctrine of comparative advantage is sustained and rationalized. Thus this research study will explore and analyse US trade policies, trends and history generally and will tie this in with the US trade policies, trends and ambitions in the Middle East. Finally this paper will provide a more detailed study on the US trade policies, practices and ambitions with respect to Egypt, Jordan and Saudi Arabia. II. US Trade Policy, Practices and History: An Overview The current US trade policy is described as an outcome of struggles between two significant factions in the US: liberalization and protectionism.8 Trade liberalization has always been the dominant approach to US trade policy however.9 Be that as it may, the shift toward liberalization was a result of the disadvantages resulting from protectionism. Protectionism can be said to have officially ended in 1934 when the US having suffered a depression that was felt globally, enacted the Reciprocal Trade Agreements Act 1934.10 Previously, the US had a trade policy that was protectionist in structure and guided by the Smoot-Hawley Tariff Act 1930 which increased tariffs on imports to 53 per cent in 1931 and again to 59 per cent the following year in 1932.11 This protectionist stance had provided other states with the incentive to take a retaliatory stance toward the US and as a result world trade declined. In fact, between 1929 and 1933, world trade decreased by 25 per cent.12 Ultimately, the protectionist stance in US trade policy was calculated to protect the US’s domestic goods and markets and to safeguard against international competition.13 In this ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
(“US foreign trade policy in the Middle East: a comparative analysis Dissertation”, n.d.)
Retrieved from
(US Foreign Trade Policy in the Middle East: A Comparative Analysis Dissertation)
“US Foreign Trade Policy in the Middle East: A Comparative Analysis Dissertation”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF US foreign trade policy in the Middle East: a comparative analysis between Egypt, Jordan and Saudi Arabia

The Trade Union Movement in the UK

Before the ERA 1999, union membership and recognition in the UK were characterized by voluntarism, in which employers and employees could bargain over the terms and conditions of employment without any legal interference. With the statutory system ushered in by the new law, voluntary recognition of unions is no longer allowed and it becomes unlawful for British employers to deny recognition to unions under any circumstances. That conveys the impression that ERA created a radical change in British industrial relations. This paper takes the contrary view, however, and proposes that while the new industrial relations law looks revolutionary in principle, there are no fundamental changes in actuality for the change to qualify as &ldqu...
8 Pages (2000 words) Case Study

The Challenges of Foreign Market

Any multinational company is exposed to risks such as change of foreign currency exchange rate, commodity prices, and interest rates because it denominates its transactions in foreign currencies. That’s why there is also some uncertainty in future earnings, liabilities and assets values.
Therefore, before taking a decision on the country of entry, a profound analysis of its current political and economical situation is to be performed. According to Kotler and Armstrong (351-361), a decision on whether to enter a foreign market should be based on a profound analysis of potential risks and opportunities, as well as the company’s internal resources.
The company is a Limited Liability that exports roasted and gro...
11 Pages (2750 words) Case Study

Internal and External Environmental Analysis for the Bakery Business

Liberalization of foreign investment and technology policy of the government is supportive of establishing industrial units in the country.

Threat: The UK food regulatory authority is planning to enforce the EC Regulations relating to food labeling. The labeling requirements under the new regulations will affect the food industry as the suppliers will be legally obliged to disclose the GM content of foods to the caterers. Thus business firms in the bakery industry also will be effected through the exclusion of flexible manner of labeling arrangements in the case of flour confectionery involving GM Soya or maize. (Genetically modified and novel foods (labeling) (England) regulations, 2000).

Trend: The new subs...
6 Pages (1500 words) Case Study

Relationship between Money Supply and Inflation in Saudi Arabia

Over the recent past, the effects of money supply, debt and inflation have become contentious issues for debate. Furthermore, frequent cautions concerning the risk of very large budgetary deficits aver that this would send up the upcoming state debt and capital rate as indicated by the rates (interests). As a nation, Saudi Arabia has a bi and enduring budgetary deficit over the past two decades and the government has been forced to go into the market so as to have loan access and to make up for the deficits. Given the impact of this on inflation and other economic variables, it's imperative and of great alarm for strategy architects (strategists) to understand how microeconomics has an effect on money supply, financial plan defici...
10 Pages (2500 words) Speech or Presentation

Analysis of OReilly v Mackman Case

Judicial review is a concept which is constitutionally undecided as it on one side, it shores up the rule of law, democracy, and pre-eminence of parliament by facilitating the courts to check the boundaries of government authority and on another side, the courts are open to the decision on the plants based on the fact of separation of authorities that are intimating with the verdicts of democratically elected institutions. Judicial review is not apprehended with the virtues of government assessment but deals with whether the deciding authority has remained within the legal boundaries and whether broad principles of rationality and fairness adhere. The constitutional basis of judicial review is debated as one view holds that it is...
8 Pages (2000 words) Case Study

Information Security Policy of Organization

In the modern age of information technology, there are many threats created for organizational information. Organizations need a security model that has the capability to handle and secure our information reserves. Technical administrative safety /security measures like security plans, actions and procedures are the general practices for the organizational information security procedures. The attentiveness of producing actions is concerned by the organizations to an appreciably smaller level, on the other hand at the same time these are weighed up as being further efficient organizational actions than technical administrative ones. Information security encompasses organizational features, officially authorized aspects, institution...
6 Pages (1500 words) Research Paper

Evaluation of Children with Visual Impairment between Ages 4-12

A visually impaired child may suffer from incomplete sight, reduced vision, total blindness as well as legal sightlessness (Kelley and Gale p 45). It is a condition that may become severe in a child, thereby affecting its growth and development. The impact is usually dependent on the kind of loss, age at which it occurs, as well as the general body functioning of the child. The normal interest that is usually evident amongst children on seeing attractive items in their surroundings lacks in a visually impaired child. This may interfere with the child’s learning capabilities unless he/she is assisted to learn. The development of social behavior in children usually depends on the ability to see parents or those in charge of ca...
6 Pages (1500 words) Coursework

Macroeconomics and Trade Policys

Keynes argued that prices and wages do not determine the level of employment, as many classical economists suggested, but instead the level of aggregate demand for goods and services (Case & Fair 683). Keynes realized as well during the Great Depression that the government could intervene in the economy to attain specific employment and output goals by either increasing or decreasing taxes and government spending.

For example, raising taxes will decrease the disposable income of households and thus effectively decreasing consumption. When the government decreases consumption, the household demand for goods and services decreases thus it would only seem reasonable that the amount of output that the economy would also...
7 Pages (1750 words) Article

Analysis of Tourism and Hospitality Law Case

 The main issue that needs to be tackled first is whether there is a valid contract between Richard Brat, carrying on trade as Brighton Greens, (buyer) and Molly and Kelly trading in First Grade Granny Smith apples as Holy Farm.

Apparently, there was, when considering their verbal and written mail sent by Richard to Holy Farm on August 1 reading as follows –“Please deliver 20 boxes –Granny Smith ‘Brighton Greens’. Cheque mailed.“

It may be seen that the mail order does not specify the category or grade of apples to be supplied, but one of the implied conditions of sale could be that the goods ordered need to correspond with the goods inspected and tested.

In th...
8 Pages (2000 words) Case Study

Identification of problems in the Criminal Justice System of the US

They are on trial and will be dealt with fairly. These laws ensure that no one, even if he or she has committed a crime is abused or punished cruelly.
Following the history of civilization like in china, we see the traces of systems for Criminal justice in order to provide safety for the citizens. Evolving through the years laws have been modified and changed to form the system that we know today.
 From its start, the “U.S. criminal justice system” has advocated the idea of “checks and balances”. To avoid dictatorial rule, the people who founded this system in such a way that one person was not given control or authority completely to punish the criminals. The idea of assigning a ‘jury...
6 Pages (1500 words) Assignment
sponsored ads
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.

Let us find you another Dissertation on topic US foreign trade policy in the Middle East: a comparative analysis between Egypt, Jordan and Saudi Arabia for FREE!

Contact Us