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International trade commerce among nations (Why trade reform is difficult,…
International trade commerce among nations
Why countries trade
Comparative advantage
Raises the living standards of both countries
Trade profitably
Advanced economies
Absolute cost
Capital & labour
Factories & machinery
Better technologies & new product varieties
Enhancing investment & innvovation
Trade reforms
reducing tariffs
nontariff barriers
Why trade reform is difficult
Continues to global efficiency
Higher level of economic welfare
Dislocation to firms
Difficult adjusting
Import taxes
Rise prices or limit imports
Restrictions of raw materials'
Trade policies
Government trade barriers
Vary polices protection
Certain sector tariffs are higher
Affect more then others
Hit less developed countries
WTO more transparent & open