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Unfairness of Trade - Coggle Diagram
Unfairness of Trade
Tariffs
Sometimes Tarrifs can be used as a form of geopolitical reciprocity and severe diplomatic ties with other countries.
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When a tariff is imposed, trade with the country becomes harder and in fact suspends ties with each other.
Dumping
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Dumping is the process by which a country produces low quality and priced goods as a form of riddance or hypothetically recolonization.
World Market
There is unfairness in the world market. Examples are national debts in which trade covers it so there is no profit for the world market no matter the efforts made.
Corruption in the world market. The profit of a country can be used for the happiness of the president king and does not add to the world market.
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Trading Bloc
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A country with trade deficit can cause trade imbalance amongt them and resources contribute to it and a country can suspend a treaty with another one..
Balance of Trade
Some countries have advantageds over the other. Countries with trade deficit find it hard to export their goods due to the increasing amount of debts and also cost of production increases to cover the debt.
Globalization
Protectionist policies affect globalization. Due to the absence of foreign firms , They become isolated from the rest of the world.
Some countries are Less culturally diverse than each other. So lack international Mindedness and lack of foreign innovation.
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