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Chapter 2 The Dynamic Environment of International Trade - Coggle Diagram
Chapter 2 The Dynamic Environment of International Trade
World Trade and U.S. Multinationals
World Trade Organization (WTO)
multinational corporations (MNCs)
newly industrialized countries (NICs)
state-owned enterprises (SOEs)
NAFTA
American Free Trade Area (AFTA)
Asia-Pacific Economic Cooperation Conference (APEC)
The Organization for Economic Cooperation and Development (OECD)
General Agreement on Tariffs and Trade (GATT)
Balance of Payments
current account
a record of all merchandise exports, imports, and services plus unilateral transfers of funds
capital account
a record of direct investment, portfolio investment, and short-term capital movements to and from countries
reserves account
a record of exports and imports of gold, increase and decrease in foreign exchange and liablities.
Protectionism
Tactics used by nations to restrain the entry of unwanted goods and foreign influence.
Trade Barriers
nontariff barriers
tariffs
Quotas and Import Licenses
Voluntary Export Restraints
Boycotts and Embargoes
Monetary Barriers
Standards
Omnibus Trade and Competitiveness Act of 1988
Assists businesses to be more competitive in world markets as well as on correcting perceived injustice in trade practices
International Monetary Fund (IMF) & World Bank Group
Protests against globalization and these groups.
Global institutions created to assist nations in becoming and remaining economically viable