3. World trade developments in 2009 (2011)Apunte Inglés
|Universidad||Universidad Internacional de Cataluña (UIC)|
|Grado||Administración y Dirección de Empresas (ADE) English Programme - 1º curso|
|Año del apunte||2011|
|Fecha de subida||05/06/2014|
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World trade developments in 2009: Openness to trade: ratio of exports and imports of goods and commercial services to GDP. o Not a trade policy indicator o An increase of this value doesn’t mean an increase of liberalization. o Exchange rates fluctuations also have an impact on this ratio. • Fall on trade on 2008-‐2009: This fall in trade is due to a combination of factors, weak demand, falling commodity prices, global supply chains, the simultaneous impact of the economic crisis across countries and regions, and limited access to credit in general, and trade finance in particular. • China contraataca: o In 2009, China overtook Germany as the lead exporter of merchandise. The United States remained in third position. Conclusion: US is making the majority of its industrial trade with countries that are much poorer that they are and that pay their workers much lower wages. It offers backward economies their best hope of moving up the income ladder. Growing US trade with third world countries reduces the real wages of many people and perhaps most workers in the country. Trade between countries at very different levels of economic development tends to create large classes of losers as well as winners. Keeping world markets relatively open is crucial to the hopes of billions of people. We could respond to the trouble with trade not by shutting trade down, but by doing thinks like strengthening the social safety net. • ...