...Do you think governments should consider human rights when granting preferential trading rights to countries? What are the arguments for and against taking such a position? Political arguments for government intervention into international trade cover a range of issues, including protecting jobs, protecting industries deemed important for national security, and retaliating against unfair foreign competition. Protecting jobs and industries from unfair competition is the most common political argument for government intervention. For example, the Japanese quotas on rice imports are aimed at protecting jobs in that country's agricultural sector. In terms of protecting industries deemed important for national security, countries sometimes argue that it is necessary to protect certain industries (like aerospace, steel, advanced electronics, etc.) because they are important for national security. Finally, with regard to retaliating against foreign competition, some people argue that governments should use the threat to intervene in trade policy as a bargaining tool to help open foreign markets and force trading partners to "play by the rules of the game." In addition to these, political arguments for government intervention might also be motivated by the desire of governments to protect consumers from unsafe products, further its foreign policy objectives, protect human rights in trade partner nations, and protect the environment from pollution and degradation arising...
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...1) What is Government Policy The term ‘government policy’ can be used to describe any course of action which intends to change a certain situation. Think of policies as a starting point for government to take a course of action that makes a real life change. Government uses policy to tackle a wide range of issues. In fact, it can make policies that could change how much tax you pay, parking fines, immigration laws and pensions. Law can also be changed by government, so when they create a policy it can be made to affect specific groups of people or everyone in our society. Government departments (such as education or finance), agencies (like Land and Property Services or the Housing Executive) and councils all make policies that affect our lives. These policies can be influenced in many ways: political parties or individual politicians lobbying decision makers in government voluntary organisations community groups public opinion public consultations the media 2) Influence to Population Government make policies to population or population policy to determine the principles, objectives and policies adopted by the State as regards population issues for the purpose of influencing the population status, including variables in population growth and its main elements (fertility, births, deaths, geographical distribution, immigration, population composition such as population youthfulness or rising rate of the elderly, as well as general issues relating...
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...of International Trade Chapter Outline OPENING CASE: Why Are Global Food Prices Soaring? INTRODUCTION INSTRUMENTS OF TRADE POLICY Tariffs Subsides Country Focus: Subsidized Wheat Production in Japan Import Quotas and Voluntary Export Restraints Local Content Requirements Administrative Polices Antidumping Policies Management Focus: U.S. Magnesium Seeks Protection THE CASE FOR GOVERNMENT INTERVENTION Political Arguments for Intervention Country Focus: Trade in Hormone-Treated Beef Economic Arguments for Intervention THE REVISED CASE FOR FREE TRADE Retaliation and Trade War Domestic Politics DEVELOPMENT OF THE WORLD TRADING SYSTEM From Smith to the Great Depression 1947-1979: GATT, Trade Liberalization, and Economic Growth 1980-1993: Protectionist Trends The Uruguay Round and the World Trade Organization WTO: Experience to Date The Future of the WTO: Unresolved Issues and the Doha Round Country Focus: Estimating the Gains from Trade for America FOCUS ON MANAGERIAL IMPLICATIONS Trade Barriers and Firm Strategy Policy Implications SUMMARY CRITICAL THINKING AND DISCUSSION QUESTIONS CLOSING CASE: Agricultural Subsidies Learning Objectives 1. Describe the policy instruments used by governments to influence international trade flows. 2. Understand why governments sometimes intervene...
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...Economic Growth and Public Policy of the UK: Does the protectionism help? Introduction The effects of globalization have touched all the aspects of life and business today. One aspect is the trading policies between countries. Since the late nineteenth century, the collision started between domestic and foreign industries, which ask governments for measures that could protect local industries, without discouraging the country’s trade relations. The term ‘Protectionism’ was thus introduced in the language of global trade and economy (Rowley, 2002). Protectionism is an economic policy applied in the trading system, to restrict the quantity of imported items, and to flourish country’s exports. The objective of this is policy is to maintain the competition between foreign and the domestic industries. In most of the countries, free trade is not followed and various tariffs and duty charges are applied on the import goods. These taxes allow the government to generate a fair bit of revenue, without utilizing their resources. Moreover, it also helps in the sustainability of the domestic industries. The prices of the imported goods are kept higher by adding these taxes so that the local customers, looking for cheaper options, have to buy the domestic items. In parallel to this, the protectionism policy allows domestic industries to raise the prices of their products, without raising the quality of their products (Ethier & Fischer, 1987, pp.1-2). Another aspect of protectionism...
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...GROWTH The government uses policies like student loans and free trade to influence the economy’s growth rate. In 600- 1200 words, identify at least four policies from the textbook that the government has created to impact economic growth and productivity. In your paper, please also evaluate whether each item has enhanced or diminished your quality of life, and make any appropriate recommendations that might improve the policies. ECN 400 WEEK 5 ECONOMIC GROWTH To purchase this visit following link: http://www.activitymode.com/product/ecn-400-week-5-economic-growth/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECN 400 WEEK 5 ECONOMIC GROWTH The government uses policies like student loans and free trade to influence the economy’s growth rate. In 600- 1200 words, identify at least four policies from the textbook that the government has created to impact economic growth and productivity. In your paper, please also evaluate whether each item has enhanced or diminished your quality of life, and make any appropriate recommendations that might improve the policies. ECN 400 WEEK 5 ECONOMIC GROWTH To purchase this visit following link: http://www.activitymode.com/product/ecn-400-week-5-economic-growth/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECN 400 WEEK 5 ECONOMIC GROWTH The government uses policies like student loans and free trade to influence the economy’s growth rate. In 600- 1200 words, identify at least four policies from the textbook that the government has created...
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...Government Policies for Economic Growth and Productivity Michael Pintar ECN400 – Managerial Economics Colorado State University Global Campus Dr. John Speir November 11, 2012 Government Policies for Economic Growth and Productivity Michael Pintar ECN400 – Managerial Economics Colorado State University Global Campus Dr. John Speir November 11, 2012 Government Policies for Economic Growth and Productivity Government policy for promoting economic growth and productivity has tremendous bearing on our standards of living today and our future. Our policymakers’ ability to exercise proper fundamentals of economic growth determine the livelihood of our next generations (Mankiw, 2012). Whether policies encourage savings and investment, fund R&D, practice free trade, or promote education, the government has many tools and options for controlling our quality of life. Savings and Investment One method of boosting growth and raising standards of living is by government encouragement of savings and investment in an effort to raise capital. Unfortunately, the economic trade-off to achieve more capital requires reduced present day spending on goods and services in exchange for higher future consumption (Mankiw, 2012). To encourage savings, the government may consider a few principal actions: 1), raising current interest rates, thereby reducing demand for loanable funds and encouraging incentive to save, and / or 2), a tax reform intended for reduction of...
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...Vidit Shah OVER VIEW Composition & Direction of Foreign Trade Foreign Trade Policy India’s Foreign Trade Policy Foreign Trade Policy 2015 – 2020 3 05/01/2016 Composition Of Foreign Trade • Composition of foreign trade means major commodity or sectors in which India is doing export and import. India is a very old participant in world trade. Its participation have been promoted by the opening of Suez Canal and speedy development of the ship building industry supplemented by the spread of industrial revolution in Europe and fast expansion of Indian railways. Composition Export Fuels, Capital Goods, Chemicals, Food Grains, Petroleum Products, Capital Goods, Pearls and Precious Gems, Iron and Steel Fertilizers, Edible Oil 05/01/2016 Import Manufactured goods textiles , Gems and Jewellery, Handicraft, Light machinery etc. 4 IMPORTS It refers to goods that we buy from other countries. At times of independence India was an agrarian economy. Partition of our country has brought food shortage because wheat growing regions vested with Pakistan. Hence India need to import in large quantities, food , cotton jute. Etc With development of economy over these days, there occurred changes in composition of imports. The development required setting up of industries, modernization of agriculture etc. Capital goods like machinery, chemicals, fertilizers ,metals, minerals petroleum products etc. are imported . ...
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...Trade leveraging policy to push exports on anvil Our Economy Bureau 3 September 2004 New Delhi: A day after doling out sops to exporters, commerce and industry minister Kamal Nath today said that the government would bring out a trade leveraging policy apart from a special package for textiles, tea and coffee sectors to further push up exports. "India is one of the few countries in the world which will have incremental growth in its human skill resources in the coming years. We have never leveraged trade. I am going to work on trade leveraging policy. We have to see trade not only as a foreign exchange earner but also as a net employment generator," Nath said at a FICCI seminar on the foreign trade policy. Since the multi-fibre agreement is coming to an end in 2005, the minister said that the government would look at the entire textile chain and come out with a textile policy. Nath said that his ministry would also organise a seminar on textiles in the next one month to discuss issues emerging in the post quota regime. Stating that the days of government subsidising inefficiency were over, Nath said that the industry would have to match the strength of its competitors in order to achieve a quantum jump in its exports. He said issues like the inverted duty structure needed to provide a level playing field to the domestic industry particularly under regional and bilateral agreement would be addressed soon. The minister also admitted that infrastructure was the weakest...
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...Economy of International Trade Learning objectives • Describe the policy instruments used by governments to influence international trade flows. • Understand why governments sometimes intervene in international trade. • Articulate the arguments against strategic trade policy. • Describe the developments of the world trading system and the current trade issues. • Explain the implications for managers of developments in the world trading system. This chapter focuses on the political systems and tools of trade policy. The major objective of this chapter is to describe how political realities shape the international trading system. With an introduction to tariffs, subsidies, and the development of the world trading system, the chapter describes the evolution of the World Trade Organization and its impact on the global business environment. While in theory many countries adhere to the free trade ideal outlined in Chapter 5, in practice most have been reluctant to engage in unrestricted free trade. The US continues to restrict trade in technological and militarily sensitive products as well as in textiles, sugar, and other basic products in response to domestic political pressures. OUTLINE OF CHAPTER 6: THE POLITICAL ECONOMY OF INTERNATIONAL TRADE Opening Case: United States Cotton Subsidies and World Trade Introduction Instruments of Trade Policy Tariffs ...
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...the economy of Chile in terms of strengths, which are the abundance in natural resources, and the weakness of heavy reliance on copper. Then identified two severe threats the nation was facing in 1998: Asian financial crisis and current account deficit. The two threats interact with the characteristics of Chilean economy which lead to the risks of currency crisis and a economic slowdown. The second section then investigates Chile’s current policies on inflation, trade and exchange rate. In terms of inflation, the central bank uses tight monetary policy and controls on capital inflows such as Unremunerated Reserve Requirement. For trade, the country relies on entering free trade agreements. For foreign exchange policy, Chile maintains a crawling peg system but is increasing the trading band. Facing the current challenges, we recommend that Chile should focus first on solving the potential currency crisis, then the economic slowdown. To avoid a currency crisis, the central bank of Chile should continue the tight monetary policy by raising interest rate. This practice can stabilizes the domestic currency value, attracts international capital and increases domestic savings. Focus directly at reducing current account deficit, Chile should also...
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...New Trade Theory 1. (a) Explain the new trade theory. What is the role of economies of scale in this theory? The new trade theory focusses on productivity rather than the types of resources that are available in a nation. This justifies government intervention in support of the development of certain industries involved in exports. First mover advantage indicates that as production of a specialized product increases, it also becomes more efficient, increasing input. Therefore, as output and specialization increase, economies of scale can be realized. Companies that are the first to enter a specific industry can dominate that industry and create barriers to entry, as they benefit from increasing returns. It has been stated by economists that reaching economies of scale has implications on international trade. Economies of scale are a major source of cost reductions in many industries. By using assembly line production with specialized equipment, and/or employees with specialized tasks, fixed unit costs are dispersed over large scale outputs, with increased productivity. By trading products between nations, more choices become available to consumers at lower costs. As well, in specific industries where the output totals a significant portion of the total world demand, the global market may only be able to support a limited number of companies. (b) Discuss the implications of the new trade theory. Nations benefit from trade as it...
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...Lecture 5 - World Trade Organisation What is the WTO? The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business. Who we are | Location: Geneva, Switzerland Established: 1 January 1995 Created by: Uruguay Round negotiations (1986-94) Membership: 157 countries on 24 August 2012 Budget: 196 million Swiss francs for 2011 Secretariat staff: 640 Head: Pascal Lamy (Director-General)Functions: • Administering WTO trade agreements • Forum for trade negotiations • Handling trade disputes • Monitoring national trade policies • Technical assistance and training for developing countries • Cooperation with other international organizations | | There are a number of ways of looking at the World Trade Organization. It is an organization for trade opening. It is a forum for governments to negotiate trade agreements. It is a place for them to settle trade disputes. It operates a system of trade rules. Essentially, the WTO is a place where member governments try to sort out the trade problems they face with each other. The WTO was born out of negotiations, and everything the WTO does is the result of negotiations. The bulk of the WTO’s current work comes from...
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...International Trade Theory Chapter Outline OPENING CASE: The Ecuadorian Rose Industry INTRODUCTION AN OVERVIEW OF TRADE THEORY The Benefits of Trade The Pattern of International Trade Trade Theory and Government Policy MERCANTILISM Country Focus: Is China a Neo-Mercantilist Nation? ABSOLUTE ADVANTAGE COMPARATIVE ADVANTAGE The Gains from Trade Qualifications and Assumptions Extensions of the Ricardian Model Country Focus: Moving U.S. White Collar Jobs Offshore HECKSCHER-OHLIN THEORY The Leontief Paradox THE PRODUCT LIFE CYCLE THEORY Evaluating the Product Life Cycle Theory NEW TRADE THEORY Increasing Product Variety and Reducing Costs Economies of Scale, First Mover Advantages and the Pattern of Trade Implications of New Trade Theory NATIONAL COMPETITIVE ADVANTAGE: PORTER’S DIAMOND Factor Endowments Demand Conditions Related and Supporting Industries Firm Strategy, Structure, Rivalry Evaluating Porter’s Theory Management Focus: The Rise of Finland’s Nokia FOCUS ON MANAGERIAL IMPLICATIONS Location First-Mover Advantages Government Policy SUMMARY CRITICAL THINKING AND DISCUSSION QUESTIONS CLOSING CASE: Trade in Information Technology and U.S. Economic Growth Learning Objectives 1. Understand why nations trade with each other. 2. Be familiar with the...
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...Membership of trade unions……………………………………………………………11 3. Upcoming trends and changing characteristics of workforce in Pakistan………….12 4. Challenges of IR in Pakistan………………………………………………………….16 5. Historical development and phases of growth of trade unions in Pakistan………..18 6. Structure; Political affiliation and problems of trade unions in Pakistan…………..20 7. Structure of Unions in Pakistan………………………………………………………22 8. Table…………………………………………………………………………………….24 9. References……………………………………………………………………………….25 1. Historical Perceptive of Industrial Relation in Pakistan. Current population of Pakistan is 182.1-million approximately; it’s ranked sixth as most populated country of the world (Population Census Organization). Total labor force is 59.21 million in Pakistan ( Index Mundi Pakistan) out of total labor force 49.09 million is employed and rest is unemployed, women has got 20% rate in employed strength , in agriculture sector employs are 44%, in service sector 35%, in industry and manufacturing employs are only 20% Industrial relations are the efforts made for the resolution of the differences between employer and employees, on objectives and values, profitability sharing and social justice. Discipline and authority, freedom and industrial democracy, collective bargaining and co-operations, individual versus group interest. (Lester R. A, 1951). Industrial relation can also be defined as the Relationship and negotiation among employees, employer and Government related...
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...Canada: A Small Open Economy INTRODUCTION Canada has a small economy, which should translate into weaker economic growth projections. Canada relies intensely on its trade for enhancement and maintenance of standard of living. Recent expansion and growth of trade and prospects of business in developing market provided Canada with the prospect of trade with China and other similar markets. Market moderation resulted in the reduction of growth in Canadian international trade. Canadian traders needed to find newer grounds and solutions outside the natural reserves. The solution was found in international trade and free trade agreements. CANADIAN TRADING HISTORY Initially, Canada was in no shape to manufacture goods, the natives hunted and bought their needs by supplying fish and furs for trade. This basically established the link between Canada and Europe, and was the initial face of free trade. The connection of Canada and America trade established quite late, but USA became the most significant partner of trade with Canada. After WWII, the face of trading changed for entire world. Canada established strong connections with Japan, and with Pacific Rim Connection the Japanese industrialisation started, international trade with many countries of pacific region. In 1993, Canada signed NAFTA (North American Free Trade Agreement), with America and Mexico to remove trading hurdles. This agreement was basically devised by Americans, who already had a strong business tie with Mexico...
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