HND_Economics_2_The_World_Economy世界经济学报告.docx

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1、Economics2:TheWor1dEconomyReworkContentIntroduction3SectionX:Internationa1TradeThreegainsfromtradinginternationa11y3FreeTrade3Abso1uteandComparativeAdvantage3Protectionism4Barrierstotrade4WTOandEU5Section 2: Internationa1FinanceBa1anceofPaymentsandGenera1trendsinUKTrade6Re1ationshipbetweentheexchang

2、erateandtheba1anceofpayments一14Sing1eCurrency15Effectsonindividua1sandbusinessoftheEuro15Section 3: 1essDeve1opedCountries(1DCs)Characteristicsofa1DC16Currentissuesthatface1DCs16Theimpactsofmu1tinationa1son1DCsandNICs16Conc1usion16References17Introduction:Asamemberofthegovernmentofnationontheperiphe

3、ryofEurope,itismyob1igationtoi11ustratethebenefitsofjoiningtheEUtothePremier*.Inthisreport,Iwi11ana1yze15e1ementsinnextthreepartstomakeac1earexp1anationofbenefitsofjoiningtheEU.Section 1: Internationa1TradeThreegainsfromtradinginternationa11y:Tobeginwith,theinternationa1tradecou1dincreasewor1dout-pu

4、t.Thetendencyofg1oba1izationbringsthefirmsmoreopportunitiestogainthe1abor,resources,contractsandnewtechno1ogy.Thesupp1yanddemandwi11beimprovedwiththeimprovementofcompanysproductivity.Oncethesupp1yhasbeenimproved,thegoodsandserviceswereproducedat1owercostandtherearemoreandmorecompetitions,thepriceoft

5、heproductmightfa11whichmeansconsumerscou1dgetmorechoicesandcheapergoods.Inaddition,themostimportantgainingofinternationa1tradeisitcangenerateeconomicgrowth.Freetradecou1dincreasesa1es,profitmargins,andmarketsharesandthebothdemandandsupp1y1eve1hasupdated.Meanwhi1e,theproducerneedsmoreresources,1abora

6、ndcapita1toproducemoretosatisfytheg1oba1market.Itdirectresu1tinimprovingthemateria1market,financemarket,andmaydec1inetheunemp1oymentrate.FreetradeFreetradeisaconceptthatthereisnobarriertogoodsandservicesexchangedbetweencountries.Sincedifferentcountrieshavedifferentterrain,weather,resourcesandtechno1

7、ogy,theinternationa1tradewou1dbringthegoodswhicharemoreva1uab1ethanthe1oca1peop1eproduceitbythemse1ves.Agoodexamp1eforfreetradeisinNov.18,2004,ChinesePresidentandChi1eanPresidentdec1aredthestartoftheFTAnegotiations.Accordingtotheagreement,thetwocountrieswou1dstarttariffreductionofgoodstradefromJu1y1

8、,2006.Tariffofproductsaccountingfor97%ofthetota1ofthetwocountrieswou1dbezerointenyears.ChinaandChi1ewou1dcarryoutfreetradeineducation,science&techno1ogy,environmentprotection,1abor,socia1security,1PR,investmentandpromotion,minera1andindustry.ThisagreementhaspromotedthefreetradebetweenChinaandChi1esu

9、ccessfu11y.Abso1uteandcomparativeadvantageAbso1uteadvantagereferstotheabi1ityofaparticu1arpersonoracountrytoproduceaparticu1argoodwithfewerresourcesthananotherpersonorcountry.Abso1uteadvantageissaidtooccurwhenonecountrycanproduceagoodorservicetopre-determinedqua1itymorecheap1ythananthercountry.Itsta

10、ndscontrastedwiththeconceptofcomparativeadvantagewhichreferstotheabi1itytoproduceaparticu1argoodata1oweropportunitycost.Opportunitycostisdefinedasthecostofchoosingagoodorservicemeasuredintermsofthenextbesta1ternativegivenup.Acountryhasacomparativeadvantageinproducingagoodiftheopportunitycostofproduc

11、ingthatgoodintermofothergoodsis1owerinthatcountrythanitisinothercountries.Examp1e:KoreaandJapanhavefo11owingproductionpossibi1itiesfortwocommodities,mobi1ephonesandcomputers;assumethata11theresourcesownedbyeachcountryaresame.Mobi1ephoneComputerJapan200020000Korea100015000Itisc1earthatJapanhasanAbso1

12、uteadvantageoverKoreainbothcommodities.Buttheadvantageithasismuchgreaterformobi1es.UsingthesameresourcesasKoreaitcanmaketwiceasmanymobi1ephones.ForJ叩anthecost,of1Mobi1ephoneis10ba1esofComputers,i.e.20000/2000ForKoreaitis15,i.e.15000/1000Butifwe1ookatthecaseofcomputerswewi11findthathereforJapanthecos

13、tofaba1eofcomputersisone-tenthofaMobi1ephonewhi1eforKoreaitisonefifteenth.IntermsoftheoutputofMobi1ephoneforegone(opportunitycost),computerischeaperinKoreathanJapan.KoreahasaComparativeadvantageincomputerwhi1eJapanhascomparativeadvantageinmobi1ephone.ProtectionismProtectionismistheeconomicpo1icyofre

14、strainingtradebetweennations,throughmethodssuchashightariffsonimportedgoods,restrictivequotas,avarietyofrestrictivegovernmentregu1ationsdesignedtodiscourageimportsandanti-dumping1awsinanattempttoprotectdomesticindustriesinaparticu1arnationfromforeigntake-overorcompetition.Herearetwoexamp1esofprotect

15、ionism:1: Britainimportsbananasfromitsex-co1oniesinSouthAmericawhi1eUSAownshugebananap1antationsinSouthAmerica.In1999BritainrefusedtoimportbananasfromSouthAmerica,sotheUSgovernments1appedtariffsonsomeBritish-madegoods.Themostseriousonewasapunitivetariffof100%onScottishwoo1productsinorderto1imittheim

16、portfromBritain.2: Anotherexamp1eofprotectionismisinJanuary,2009,Americangovernmentsett1edapo1icythaton1ytheAmericanstee1canbeusedinAmerica.TheAmericangovernmenttendedtousethispo1icytoreducethe1ossinfinancia1crisisandithe1psthestee1workerstokeeptheirjobs.Inthisexamp1e,protectionismprotectsthedomestic1ower-ski11ed1aboranddomesticindustries.BarrierstotradeToprotectacount