International Trade Assignment

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CHAPTER 7 Assignment 8 International Trade Paper: In this paper, provide a descriptive title or heading for your paper by focusing on topics or countries that interest you (such as “Trade Patterns and Developments in Country X and Country Y”), and then discuss the following concepts: 1. Using two different countries, explain why nations trade with each other. Provide specific examples. 2. Examine at least two different theories explaining trade flows between the selected nations. 3. Discuss the concept and impact of unrestricted free trade between the selected nations. 4. Should each selected country’s government play a proactive role in promoting national competitive advantage in certain industries? Why or why not? 5. Provide suggestions, recommendations, and implications for managers regarding new developments in the world trading system. Write your paper in 4-5 double-spaced pages. Trade is a significant part of every country’s economy. Almost every country in the world trades with another country and rely on it for their daily life. A country trades their goods with goods from another country because they can produce one good very efficiently, and at low cost and therefore they sell it to another country. The other country has a different good that is scarce to the rest of the world, and they can therefore trade that good for something that they are lacking. China is the United States largest trading partner. The largest amount of goods exported from the United States to Canada were Cars, Machinery, mineral fuel, oil and plastic. The greatest amount of imports from Canada were the mineral fuel, oil, cars, machinery and plastic. These countries trade, because they feel that is the best and most efficient way to get good pro... ... middle of paper ... ...y. They can no longer compete with that country and are being forced to stop manufacturing. This becomes a monopoly, where that country can set the price at whatever they like, because they know they have control over that specific market and no one can compete with them. http://www.economicsonline.co.uk/Global_economics/Why_do_countries_trade.html https://www.census.gov/foreign-trade/balance/ http://www.ustr.gov/countries-regions/americas/canada http://www.ustr.gov/trade-agreements/free-trade-agreements/north-american-free-trade-agreement-nafta http://econweb.tamu.edu/aglass/econ652/ln1slides.pdf http://www.britannica.com/EBchecked/topic/291349/international-trade/61690/Factor-endowments-the-Heckscher-Ohlin-theory?anchor=ref127193 http://www.ehow.com/list_6856928_disadvantages-unrestricted-trade.html http://economics-exposed.com/theory-or-international-trade-6/

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