More importantly, it reciprocates the understanding of globalisation by the international financial institutions, such as the International Monetary Fund (IMF) and the World Bank (WB), which are seen as the agents of globalisation and have exported globalisation to all regions of the world through economic reform programs, known as Structural Adjustment Programs (SAP). ... Oppressive use of trade barriers Developing countries have been told to remove barriers to trade so that they can benefit from Ricardo's law of comparative advantage. ... Therefore, according to the law of comparativ...

• Word Count: 3797
• Approx Pages: 15
• Grade Level: Undergraduate

Even if governments did nothing, international macroeconomic adjustment would occur automatically, or so it was argued. ... The argument considers the effects of international transactions in a gold standard, a system in which gold is the official means of international payments and each nation's currency is in the form of gold itself or of paper currency fully convertible into gold. ... There is no need for central bank action or international policy coordination. ... Conversely, the decrease in gold in countries with negative trade balances causes deflation, which makes ...

• Word Count: 1583
• Approx Pages: 6
• Grade Level: Undergraduate

However, the falling value of the dollar, taken in the context of the United State's trade deficit makes perfect sense, and follows the economic theory." ... This change in price due to exchange rates makes American products more competitive with other international products in the international arena, closing the current account deficit. ... In other words the American trade deficit is the only thing keeping the world out of a depression. ... It turns out that the trade deficit with China is linked to the fall of the dollar. That fall, a stated policy goal of the Bush administratio...

• Word Count: 1225
• Approx Pages: 5
• Has Bibliography
• Grade Level: Undergraduate

For example, the long term tendency towards freer trade, electronic commerce and the seemingly uncontrollable power of deregulated capital markets do much to enhance the power of markets and create a sense of the economic irrelevance of national borders. ... Some kind of 'cost benefit analysis' is not so easy when globalisation is perhaps the most over used and under specified concept in the international policy sciences since the passing of the 'Cold War'. ... Globalisation must not be seen as a homogeneous or totalising process but one in which economic, socio-political...

• Word Count: 9082
• Approx Pages: 36
• Grade Level: Undergraduate

Its government erected trade barriers in an attempt to stimulate the domestic economy and become self-sufficient. ... By 1989 the inflation rate became so out of control, reaching as high as 4,924 percent annually, that amidst the economic chaos, then president, Raul Alfonsin, stepped down, and Carlos Menem immediately took over.(3) In an attempt to stabilize the economy, Menem took a free-market approach, privatizing many poorly-run government businesses, deregulating the trade industry, and cutting taxes. ... By adopting this policy, the hope was a control on the country's hyperinfla...

• Word Count: 728
• Approx Pages: 3
• Grade Level: Undergraduate

In the 1970s international fashion arrived in India with the bold colors, flower prints and bell-bottoms. ... India has a strong domestic as well as international demand which led to huge growth of the AII. ... The apparel industry is one of the extreme significant sectors of India in terms of revenue, investment, and trade and job creation. ... A country of over one billion population, an enormous consumer class, India is measured as the most favored destinations for trade and investments. ... An increasing number of international brands across formats shall foray into India to leverage the p...

• Word Count: 1808
• Approx Pages: 7
• Grade Level: Undergraduate

The main factors that contributed to the recovery after the 1998 crisis have been the competitive boost from the weak ruble and the trade surplus caused by the rise in world oil prices. ... Moreover although Russia has been witnessing a trade surplus in the last few years, more than three-fourths of its exports comprise of commodities such as oil, natural gas, timber, and metals. ... International trade and foreign investment Russia had a successful year for foreign investment in the year 2000. ... In spite of being rich in natural resources and having a skilled and educated labor force t...

• Word Count: 1154
• Approx Pages: 5
• Grade Level: Undergraduate

Globalisation is the process enabling financial and investment markets to operate internationally largely as a result of deregulation and improved communications. ... The Erosion of Trade Preferences In the 1990's some developments including the trend toward the liberalisation of world trade, the establishment of the WTO, and the increase of regional trade agreements have clouded the prospects for continued preferential export access. ... The issue of the erosion of trade preferences is also relevant for sugar and for certain areas of manufacturing. ...

• Word Count: 673
• Approx Pages: 3
• Grade Level: Undergraduate

The emphasis on the economic aspects of Hong Kong is of great significance considering it is one of the world's freest and most dynamic economic centers and considering the commotion under the effect of two international economic crisis" during the SAR's first four years of existence. ... Hong Kong embraces the globalization of international trade and economic activities. ... The U.S. is also a significant market and trade partner for Hong Kong; as a whole, it is the second-largest trading partner, second-largest market, and the fourth-largest source of imports (Anson Chan, 2001). ...

• Word Count: 3624
• Approx Pages: 14
• Grade Level: Undergraduate

It is commonly believed that there is a trade-off between equality and efficiency. ... However, an International Monetary Fund study found evidence contradicting this idea: "If the income share of the richest 20 percent increases by 1 percentage point, output growth is 0.08 percentage point lower in the following five years, "suggesting that the benefits do not trickle down," IMF researchers said in a paper released Monday. ...

• Word Count: 527
• Approx Pages: 2
• Grade Level: Undergraduate

Firstly, due to the existence of uncertainty in the international business situation, it is common that traded weight of a country moves at times. ... For example, if one of the trading partners increases its import shares to home country, the real exchange rate should be updated to reflect the new trade patterns. ... For example, trade, import and export weights are usually used to assess changes in competitiveness of a country's trading partners. In Australia, RBA uses trade-weighed index (TWI), which is expressed as the share of total trade with each trade country. Furthermore, third-c...

• Word Count: 2178
• Approx Pages: 9
• Grade Level: Undergraduate

Against the regulation of international financial markets Following the Asian Financial crisis, the international financial institutions put the blame on capitalist policies rather than the liberalisation of capital movements. ... The unsustainable private debt of corporations, which is now held to be responsible for the crisis, was not highlighted at the time by financial commentators or by the international financial institutions. ... It is argued that the regulation of international financial markets inhibits trade between countries and they are not able to make effective use of their co...

• Word Count: 2133
• Approx Pages: 9
• Has Bibliography
• Grade Level: Undergraduate

Laissez-faire government believes commerce and trade should be permitted to operate free of controls of any kind; there should be no tariffs or other barriers. ... If one ignores foreign trade, effective demand consists essentially of three spending streams: consumption expenditures, investment expenditures, and government expenditures, each of which is independently determined. ... It was necessary for the government to intervene, to 'fine-tune' the economy by running demand-management polices; these were to counter current trends in the trade cycle - to speed up activity when t...

• Word Count: 1299
• Approx Pages: 5
• Grade Level: Undergraduate

The BOGS is influenced by a number of factors but in particular, movements in the value of the AUD and Australia's terms of trade. ... The second factor is the terms of trade which are currently [??] ... The NPI account is significantly influenced by the international business cycle and company profits in particular. The international business cycles influences demand for Australia's resource and in turn the value of the AUD. ...

• Word Count: 1109
• Approx Pages: 4
• Grade Level: Undergraduate

Laissez-faire government believes commerce and trade should be permitted to operate free of controls of any kind; there should be no tariffs or other barriers. ... If one ignores foreign trade, effective demand consists essentially of three spending streams: consumption expenditures, investment expenditures, and government expenditures, each of which is independently determined. ... It was necessary for the government to intervene, to 'fine-tune' the economy by running demand-management polices; these were to counter current trends in the trade cycle - to speed up activity when t...

• Word Count: 1471
• Approx Pages: 6
• Grade Level: Undergraduate

Many thinks that Argentina adoption of the United States dollar as currency has hurt Argentina and this has also help in their economy crashing To overcome this crisis Argentina had to over come their inflation, the trade deficit had to increase and become more productive, unemployment had to increase along with decreasing their poverty problems. ... Contracting by more than 10 per cent, has made the country's gross domestic product climbed in the last three months of 2002 and industrial output had begin to rise in 2003, this is stated by the "The Institute of International Finance, a glo...

• Word Count: 503
• Approx Pages: 2
• Grade Level: Undergraduate

The first was a favorable international economic environment, which saw total world imports expand from $175 billion in 1965 to $536 billion by 1973. ... In addition, the financial reform contributed to a massive inflow of foreign loans due to the existence of gap between domestic and international interest rate and since the Korea Development Bank guaranteed to pay back to foreign lender, the inflow of the loans were accelerated. ... For example, while domestic interest rate was so high comparing with international rates, the exporters, mostly big business in heavy industry, were able to get ...

• Word Count: 2573
• Approx Pages: 10
• Grade Level: Undergraduate

The mains sources of economic development are trade, services and the industrial division. ... However, raw materials remain the main import, most coming from the Russian Federation, where the majority of foreign trade (approximately 60 percent) is concentrated. ... This helped the foreign exchange policy in the fall of 2000 and helped to improve the confidence in the economy and gave initial contact with International Financial Institutions. ...

• Word Count: 897
• Approx Pages: 4
• Has Bibliography
• Grade Level: Undergraduate

Russia's low currency rates have also had a profound effect on trade, as exchange rate for Russia's imports will be so large. ... Russia has joined the IMF and the World Bank and has applied to join the World Trade Organization and the OECD. ... Russia has been lent money to help reduce some of its debt, however even with the help of international trade unions; Russia is still heavily in debt, which is not helping its reform process. ...

• Word Count: 1782
• Approx Pages: 7
• Has Bibliography
• Grade Level: Undergraduate

Historically, Japan has been a very hard market for international companies to enter. ... In today's increasingly interconnected economy, the policies of a country can attract all different types of international companies. ... In the 1970's, Japan became more liberal with FDI, but regulations remained and protected Japanese firms that lacked international competitiveness. ... In their textbook Introduction to International Business, Dimon & Gomez (2014) explain that since the 1990s, Japanese firms have actively resisted foreign investment because they fear foreign companies would r...

• Word Count: 1985
• Approx Pages: 8
• Has Bibliography
• Grade Level: Undergraduate

Now the fiscal, monetary, and trade policies have been started to work ithout tion of politicians, bureaucrats, and military rulers, and statutory orders that effect almost every single aspect of running a business. ... The economic revival strategy laid out in December 1999 envisaged 4 key goals: 1-Macroeconomic stability and the restoration of a working relationship with international financial institutions (IFIs), 2-structural reforms to remove distortions in the economy, 3-improving governance, especially economic, and reviving key national institutions. ... Another Micro fina...

• Word Count: 2277
• Approx Pages: 9
• Grade Level: Undergraduate

In his 2009 budget speech, then Minister of Finance Trevor Manuel announced his response to the unfolding global economic crisis. With the overarching priority of the South African focus remaining in job creation and growth acceleration, some new changes to the budget were announced with the aim to ...

• Word Count: 2383
• Approx Pages: 10
• Grade Level: Undergraduate