hnd经济学2世界经济学.docx

hnd经济学2世界经济学.docx

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hnd经济学2世界经济学

Economics2:

TheWorldEconomy

F86E35

CandidateName:

RENLU

GradeandClass:

2013BA1

Introduction2

1.Freetrade3

2.Absoluteadvantagesandcomparativeadvantages3

3.Thebenefitsoffreetrade4

4.Thepurposeofcarryingouttradeprotectionism5

5．OneMechanismoftheWorldTradeOrganization6

6.OnemeasureofEuropeanUnionpromoteseconomicintegration8

7.Balanceofpayments9

8.ThegeneraltrendsinUKtradeoverthelast30year10

9.Thebalanceofpaymentsaffectedbyexchangerates12

10.Advantagesanddisadvantagesoffixedrateandfloatingrate13

11.Effectsoffixedrateandfloatingrateonindividualsandcompany15

12.Thecharacteristicsofthenewlyindustrializedcountriesandthedevelopingcountries16

13.Theissuesofthenewlyindustrializedcountriesandthedevelopingcountries17

14.TheinfluencesMulti-NationalCorporationsbringtonewlyindustrializedcountries.18

Conclusion19

Reference20

Introduction

Thisreporthasintroducedtheworldeconomicssimply.Thecontentincludes:

Internationaltrade,freetrade,Protectionism,theroleofWTOandunder-developednation,UKabsoluteandcomparativeadvantage,theprotectionismandtworecentexamplesaboutdemonstrateargumentswhichgovernmentmayputforwardforitsuse,twobarriersoftrade,aEUinitiativeabouttheroleoftheEUinpromotingtrade,thecompositionofthebalanceofpayments,thegeneraltrendsinUKtradeoverthelast30years,thewaywhichthebalanceofpaymentsaffectedbyexchangerates,ananalysisoftwocurrentissuesthatfaceLDCs,andtheaidofrecentexamplesabouttwoimpactsofmultinationalsonNICsandLDCs.

I.Freetrade

（1）.Freetradeisatypeoftradepolicythatallowstraderstoactandtransactwithoutinterferencefromgovernment.Thus,thepolicypermitstradingpartnersmutualgainsfromtrade,withgoodsandservicesproducedaccordingtothetheoryofcomparativeadvantage.

China-ASEANfreetradeareawasformallyestablishedinJanuary1,2010,coveringapopulationof00.China-ASEANfreetradearea’sGDPamountedto$6andtradeamountedto$.Itisthelargestfreetradezoneamongdevelopingcountries.

AftertheestablishmentofCAFTA,morethan90%productsarecarriedoutforzerotariffsonbothsides.AveragetariffsfromChinesetoASEANdecreasefrom%to%,AveragetariffsfromASEAN’ssixoldmemberstoChinesedecreasefrom%to%.Tariffs’hugereductionpromotedtherapidgrowthofbilateraltrade.

ChinaandASEANcountries’tradeinvestmentgrows,economicintegrationdeepens,companiesandpeoplearewidelybenefit,realizinggoalsofmutualbenefitandwin-wincooperationandcommondevelopment.ChinaandASEAN’stotalquantityofbilateraltradegrowsrapidly.FromJanuarytoOctoberthisyear,thebilateraltradevolumehasreachedto$0000,ayear-on-yeargrowthof%.

（2）.Absoluteadvantagesandcomparativeadvantages

Absoluteadvantagesissaidtooccurwhenonecountrycanproduceagoodorservicetopre-determinedqualitywithlessresourcesormorecheaplythananothercountry.

Evenwhenacountryhasanabsoluteadvantageoveranothercountryintermsofcommoditiestheywishtotradeitwillstillbetotheirmutualadvantagetotradeprovidingeachcountryhasthecomparativeadvantages.

UKisamajorimporterofmanufacturinggoodssuchclothes,shoes,toys,electronicproducesetc.astheselabororientedconsumergoodswillcostmoreinUKbefore1980s.UKhastheWiththedevelopmentofservice,theadvantageoftradeisservicetrade.

Thegoodsthatcourtryimportandexportchangeovertimeasthegoodsinwhichtheyhaveacomparativeadvantagechangeovertime.Before1970s,manufacturingindustryisitsabsoluteadvantage.After1970s,serviceindustryismorecompetitiveforinternationaltradesuchascomputersoftware,businessserviceandpharmaceuticals.Theseindustryareseentobringthepossibilityoflongtermgrowth,whiletheindustriesbasedonheavycapitalinvestmentorrequiringrelativelycheaplaborwillnotbecompetitivewithdevelopingcountries.

2.Thebenefitsoffreetrade

（1）.Goodsandservicesproducedatlowercost.Freetradecanpromotethecooperationofdifferentcountriesintheworld.Itcandecreasethecostofproducinggoods.

（2）.Greaterrangeofcommoditiesforconsumers,morechoice.Anycountriescannotproduceallproducts,theyallhaveproductswhichareunabletoproduce.Tradeallowustobuyallofthem.Greaterrangeofcommoditiesprovidecustomerswithmorechoice.

（3）.Increasedworld-wideoutput.Eachcountryproducingaccordingtotheirrespectiveadvantageshashighefficiency.Underthesameresources,ithashighyield.Therefore,internationaltradeincreasedworld-wideoutput.

3.BarrierstoInternationalTrade

Tradebarriersaregovernment-inducedrestrictionsoninternationaltrade.Thebarrierscantakemanyforms,includingthefollowingtariffsandnontariffs.

NonTarriffBarriers-exchangecontrols

Inarealworld,thereisandshouldbeacertaindegreeofgovernmentinterventiononforeignexchange.Importsneedforeigncurrenciestobuygooodsandservicesfrommustapplytothecenytalbankforthecurrencytheyneedtopurchasegoodsinthatcountry,TheCentralbankcanerxertcontroloverthevarietyandvolumeofbothimportsandexportsbycontrollingthequantityofforeigncuurencyitwillissuetoexportersandimporters.

NonTarriffBarriers-ImportDepoits

Governmentrequiresimporterstolodgeanon-interestbearingdepositinadvancewithitsCentralBankbeforetheycanbuygoodsandservicesfromabroad.Besides,thedepositisusuallyinanamountequaltoallorpartofthecostofimportedgoods.Thisistimeconsumingandobviouslyexpensivesinceitreducestheliquidityoftheimportingfirms,whichtendtohindertheirimportingactivities.Before1984,theNigerianadvancedimportdepositrangedfrom50%to200%ofthevalueofalistofimportitems.

Giveaexampleabouttariffs,35%tariffsonChinesetyresimposedontheUnitedStateson11thSeptemberin2009.ItmakeChinesetyresfirmshavetoincreasepriceifsalesinAmerica.

Forexample,tnontariffsinRussiatoUkraineforembargoeswhichsuspensionofUkraineimportsofjuiceon29thJulyin2014.ItmakeUkraine’sjuicenotallowsaleinRussia.

4.ThepurposeofraisingbarrierstoInternationalTrade

（1）Thepurposeistoprotectemployment.

FootwearmanufactureersassociationsofItaly,SpainadPortugalarereportedtohavefieldapplicationstotheEUtocurbfootwearimportsfromChina.LocalshoemarkersinElche,thecapitalofSpain’sonceflourishingfootwearindustry,arguethat“madeinChina”istakingawaytheirjobsbythatChineseshoeshavebeenboominginSpainjustbecauseofgoodqualityandreasonableprices.

（2）Thepurposeistoanti-dumping.InJuly2012,SolarWorldAG,aGermangiant,ledaconsortiumofaround25EUsolarpanelproducerstofileacomplainttotheEUCommissiontoinvestigatewhethertherehasbeendistortionofcompetitionbyChinesecounterpartsduetodumping.SoonGermanyagainstChinalowprice.

5．TheRoleofWTO

TheWorldTradeOrganization（WTO）isanorganizationthatintendstosuperviseandliberalizeinternationaltrade.Theorganizationofficiallycommencedon1January1995undertheMarrakechAgreement,signedby123nationson15April1994,replacingtheGeneralAgreementonTariffsandTrade（GATT）,whichcommencedinTheorganizationdealswithregulationoftradebetweenparticipatingcountriesbyprovidingaframeworkfornegotiatingandformalizingtradeagreementsandadisputeresolutionprocessaimedatenforcingparticipants'adherencetoWTOagreements,whicharesignedbyrepresentativesofmembergovernmentsandratifiedbytheirparliaments.

TheWTOdisputesettlementmechanismismeasuresofdealingwithtradedisputesbetweenistheeffectivewayforcountriesespeciallythedevelopingcountriestoresolvetheeconomicfrictionandsafeguardtheirlegitimaterightsandisveryunfavorableforthedevelopingcountriestoresolvetradedisputesespeciallytradedisputeswiththedevelopedcountriesthroughbilateralchannels.Thebilateralapproachpursuesstrengthdoctrine.Involvedintradedisputesamongdevelopingcountries,theWTOdisputesettlementmechanismrulingiscomparativelyfairandreasonable.Aseitherthecomplainantorrespondent,thelegitimateinterestsofthedevelopingcountrieshavebeeneffectivelyprotected.ItisbecausetheWTOdisputeadjudicationhasverystrongfairness,developingcountriesgenerallyhaveahighenthusiasmtousetheWTOdisputesettlementmechanism.SomelargereconomicscaledevelopingcountriesismoreactiveintheuseofWTOdisputesettlementhelpstoreducetheeconomicfrictionbetweencountries,andpromotefriendlyrelationsamongnations.

TheUruguayRoundwasthe8throundofmultilateraltradenegotiations（MTN）conductedwithintheframeworkoftheGeneralAgreementonTariffsandTrade（GATT）,spanningfrom1986to1994andembracing123countriesas"contractingparties".TheRoundledtothecreationoftheWorldTradeOrganization,withGATTremainingasanintegralpartoftheWTOagreements.ThebroadmandateoftheRoundhadbeentoextendGATTtraderulestoareaspreviouslyexemptedastoodifficulttoliberalize（agriculture,textiles）andincreasinglyimportantnewareaspreviouslynotincluded（tradeinservices,intellectualproperty,investmentpolicytradedistortions）

HerearesomeothersareastheWTOhasdealtwithinattemptstoestablishitselfasthepolicingbodypromotingfreetrade.TheBananaDispute.TheWTOruledthattheEuropeanUniondiscriminatedunfairlyagainsttheUSwithitsbananaimportrules.TheWTOallowedtheUStoslapa$