hnd经济学2世界经济学.docx

1、hnd经济学2世界经济学F86E35Economics2:TheWorldEconomyEconomics2:TheWorldEconomyF86E35CandidateName:RENLUGradeandClass:2021BA1F86E35Economics2:TheWorldEconomyIntroduction.31.Freetrade.42.Absoluteadvantagesandcomparativeadvantages.43.Thebenefitsoffreetrade.54.Thepurposeofcarryingouttradeprotectionism.75OneMech

2、anismoftheWorldTradeOrganization.76.OnemeasureofEuropeanUnionpromoteseconomicintegration.87.Balanceofpayments.98.ThegeneraltrendsinUKtradeoverthelast30year.129.Thebalanceofpaymentsaffectedbyexchangerates.1310.Advantagesanddisadvantagesoffixedrateandfloatingrate.1411.Effectsoffixedrateandfloatingrate

3、onindividualsandcompany.1612.Thecharacteristicsofthenewlyindustrializedcountriesandthedevelopingcountries.1813.Theissuesofthenewlyindustrializedcountriesandthedevelopingcountries.1914.TheinfluencesMulti-NationalCorporationsbringtonewlyindustrializedcountries.19Conclusion.21Reference.22F86E35Economic

4、s2:TheWorldEconomyIntroductionThisreporthasintroducedtheworldeconomicssimply.Thecontentincludes:Internationaltrade,freetrade,Protectionism,theroleofWTOandunder-developednation,UKabsoluteandcomparativeadvantage,theprotectionismandtworecentexamplesaboutdemonstrateargumentswhichgovernmentmayputforwardf

5、oritsuse,twobarriersoftrade,aEUinitiativeabouttheroleoftheEUinpromotingtrade,thecompositionofthebalanceofpayments,thegeneraltrendsinUKtradeoverthelast30years,thewaywhichthebalanceofpaymentsaffectedbyexchangerates,ananalysisoftwocurrentissuesthatfaceLDCs,andtheaidofrecentexamplesabouttwoimpactsofmult

6、inationalsonNICsandLDCs.F86E35Economics2:TheWorldEconomyI.Freetrade(1).Freetradeisatypeoftradepolicythatallowstraderstoactandtransactwithoutinterferencefromgovernment.Thus,thepolicypermitstradingpartnersmutualgainsfromtrade,withgoodsandservicesproducedaccordingtothetheoryofcomparativeadvantage.China

7、-ASEANfreetradeareawasformallyestablishedinJanuary1,2021,coveringapopulationof1900000000.China-ASEANfreetradeareasGDPamountedto$6andtradeamountedto$4.5.Itisthelargestfreetradezoneamongdevelopingcountries.AftertheestablishmentofCAFTA,morethan90%productsarecarriedoutforzerotariffsonbothsides.Averageta

8、riffsfromChinesetoASEANdecreasefrom9.8%to0.1%,AveragetariffsfromASEANssixoldmemberstoChinesedecreasefrom12.8%to0.6%.Tariffshugereductionpromotedtherapidgrowthofbilateraltrade.ChinaandASEANcountriestradeinvestmentgrows,economicintegrationdeepens,companiesandpeoplearewidelybenefit,realizinggoalsofmutu

9、albenefitandwin-wincooperationandcommondevelopment.ChinaandASEANstotalquantityofbilateraltradegrowsrapidly.FromJanuarytoOctoberthisyear,thebilateraltradevolumehasreachedto$295900000000,ayear-on-yeargrowthof25.7%.(2).AbsoluteadvantagesandcomparativeadvantagesAbsoluteadvantagesissaidtooccurwhenonecoun

10、trycanproduceagoodorservicetopre-determinedqualitywithlessresourcesormorecheaplythananothercountry.Evenwhenacountryhasanabsoluteadvantageoveranothercountryintermsofcommoditiestheywishtotradeitwillstillbetotheirmutualadvantagetotradeprovidingeachcountryhasthecomparativeadvantages.UKisamajorimporterof

11、manufacturinggoodssuchclothes,shoes,toys,electronicF86E35Economics2:TheWorldEconomyproducesetc.astheselabororientedconsumergoodswillcostmoreinUKbefore1980s.UKhastheWiththedevelopmentofservice,theadvantageoftradeisservicetrade.Thegoodsthatcourtryimportandexportchangeovertimeasthegoodsinwhichtheyhavea

12、comparativeadvantagechangeovertime.Before1970s,manufacturingindustryisitsabsoluteadvantage.After1970s,serviceindustryismorecompetitiveforinternationaltradesuchascomputersoftware,businessserviceandpharmaceuticals.Theseindustryareseentobringthepossibilityoflongtermgrowth,whiletheindustriesbasedonheavy

13、capitalinvestmentorrequiringrelativelycheaplaborwillnotbecompetitivewithdevelopingcountries.2.Thebenefitsoffreetrade(1).Goodsandservicesproducedatlowercost.Freetradecanpromotethecooperationofdifferentcountriesintheworld.Itcandecreasethecostofproducinggoods.(2).Greaterrangeofcommoditiesforconsumers,m

14、orechoice.Anycountriescannotproduceallproducts,theyallhaveproductswhichareunabletoproduce.Tradeallowustobuyallofthem.Greaterrangeofcommoditiesprovidecustomerswithmorechoice.(3).Increasedworld-wideoutput.Eachcountryproducingaccordingtotheirrespectiveadvantageshashighefficiency.Underthesameresources,i

15、thashighyield.Therefore,internationaltradeincreasedworld-wideoutput.3.BarrierstoInternationalTradeTradebarriersaregovernment-inducedrestrictionsoninternationaltrade.Thebarrierscantakemanyforms,includingthefollowingtariffsandnontariffs.F86E35Economics2:TheWorldEconomyNonTarriffBarriers-exchangecontro

16、lsInarealworld,thereisandshouldbeacertaindegreeofgovernmentinterventiononforeignexchange.Importsneedforeigncurrenciestobuygooodsandservicesfromabroad.Importersmustapplytothecenytalbankforthecurrencytheyneedtopurchasegoodsinthatcountry,TheCentralbankcanerxertcontroloverthevarietyandvolumeofbothimport

17、sandexportsbycontrollingthequantityofforeigncuurencyitwillissuetoexportersandimporters.NonTarriffBarriers-ImportDepoitsGovernmentrequiresimporterstolodgeanon-interestbearingdepositinadvancewithitsCentralBankbeforetheycanbuygoodsandservicesfromabroad.Besides,thedepositisusuallyinanamountequaltoallorp

18、artofthecostofimportedgoods.Thisistimeconsumingandobviouslyexpensivesinceitreducestheliquidityoftheimportingfirms,whichtendtohindertheirimportingactivities.Before1984,theNigerianadvancedimportdepositrangedfrom50%to200%ofthevalueofalistofimportitems.Giveaexampleabouttariffs,35%tariffsonChinesetyresim

19、posedontheUnitedStateson11thSeptemberin2021.ItmakeChinesetyresfirmshavetoincreasepriceifsalesinAmerica.Forexample,tnontariffsinRussiatoUkraineforembargoeswhichsuspensionofUkraineimportsofjuiceon29thJulyin2021.ItmakeUkrainesjuicenotallowsaleinRussia.F86E35Economics2:TheWorldEconomy4.Thepurposeofraisi

20、ngbarrierstoInternationalTrade(1)Thepurposeistoprotectemployment.FootwearmanufactureersassociationsofItaly,SpainadPortugalarereportedtohavefieldapplicationstotheEUtocurbfootwearimportsfromChina.LocalshoemarkersinElche,thecapitalofSpainsonceflourishingfootwearindustry,arguethat“madeinChinaistakingawa

21、ytheirjobsbythatChineseshoeshavebeenboominginSpainjustbecauseofgoodqualityandreasonableprices.(2)Thepurposeistoanti-dumping.InJuly2021,SolarWorldAG,aGermangiant,ledaconsortiumofaround25EUsolarpanelproducerstofileacomplainttotheEUCommissiontoinvestigatewhethertherehasbeendistortionofcompetitionbyChin

22、esecounterpartsduetodumping.SoonGermanyagainstChinalowprice.5TheRoleofWTOTheWorldTradeOrganization(WTO)isanorganizationthatintendstosuperviseandliberalizeinternationaltrade.Theorganizationofficiallycommencedon1January1995undertheMarrakechAgreement,signedby123nationson15April1994,replacingtheGeneralA

23、greementonTariffsandTrade(GATT),whichcommencedin1948.TheorganizationdealswithregulationoftradebetweenparticipatingcountriesbyprovidingaframeworkfornegotiatingandformalizingtradeagreementsandadisputeresolutionprocessaimedatenforcingparticipantsadherencetoWTOagreements,whicharesignedbyrepresentativeso

24、fmembergovernmentsandratifiedbytheirparliaments.TheWTOdisputesettlementmechanismismeasuresofdealingwithtradedisputesbetweenmembers.Itistheeffectivewayforcountriesespeciallythedevelopingcountriestoresolvetheeconomicfrictionandsafeguardtheirlegitimaterightsandinterests.Itisveryunfavorableforthedevelop

25、ingcountriestoresolvetradedisputesF86E35Economics2:TheWorldEconomyespeciallytradedisputeswiththedevelopedcountriesthroughbilateralchannels.Thebilateralapproachpursuesstrengthdoctrine.Involvedintradedisputesamongdevelopingcountries,theWTOdisputesettlementmechanismrulingiscomparativelyfairandreasonabl

26、e.Aseitherthecomplainantorrespondent,thelegitimateinterestsofthedevelopingcountrieshavebeeneffectivelyprotected.ItisbecausetheWTOdisputeadjudicationhasverystrongfairness,developingcountriesgenerallyhaveahighenthusiasmtousetheWTOdisputesettlementmechanism.Somelargereconomicscaledevelopingcountriesism

27、oreactiveintheuseofWTOdisputesettlementmechanism.Ithelpstoreducetheeconomicfrictionbetweencountries,andpromotefriendlyrelationsamongnations.TheUruguayRoundwasthe8throundofmultilateraltradenegotiations(MTN)conductedwithintheframeworkoftheGeneralAgreementonTariffsandTrade(GATT),spanningfrom1986to1994a

28、ndembracing123countriesascontractingparties.TheRoundledtothecreationoftheWorldTradeOrganization,withGATTremainingasanintegralpartoftheWTOagreements.ThebroadmandateoftheRoundhadbeentoextendGATTtraderulestoareaspreviouslyexemptedastoodifficulttoliberalize(agriculture,textiles)andincreasinglyimportantnewareaspreviouslynotincluded(tradeinservices,intellectualproperty,investmentpolicytradedistortions)Herearesomeothersareasthe