International trade refers to the exchange of goods and services between two or more countries or states. International trade may also refer to the exchange of capital across international borders. International trade is responsible in regulating the gross domestic product which is very important in a country. The rising trade between countries has been influential in improving the political, economic and social factors in trading nations as they exchange their goods and services. International trade has been in existence for a long time where in the past long distance traders used to exchange goods and services like amber road and silk. International trade is much like domestic trade but eh difference is that international trade occurs across international borders. Globalization has been a major boast in international trade as countries are able to share information in regard to trade and commerce and thus increasing the level of trade between nations. This paper seeks to find ten different journal articles that relate to international trade (Yeats, 12).
Michael s. Michael, ‘cross border pollution, public pollution and capital tax competition’, Munich, Germany, June 2011
An analysis of government role in taxes and how its uses the revenue in abating pollution in the public domain. The government has been on the front line in advocating for better interaction between its partners in a move that will safeguard the public interest. Pollution has been a major issue in most countries and that’s why the German government is putting measures that will avoid public pollution by local and international businesses in its capital. Taxes have been reviewed to discourage taxes and a collective responsibility among business organization in its major capitals (Chipman, 477). Cross border pollution will incur a high penalty if the process continues as the policy on international trade is being carried out with its trading partners.
Chad P. Bown, ‘Emerging Economies and the Emergence of South-South Protectionism’, World Bank, July 2013
When anti-dumping laws are passed in many countries, several countries’ export reduces as a result of trade policies that are geared towards restricting imports in a given country. Exports to developing countries have always had a major issue with the government trying to control the level of trade between nations. Most developing countries are trying to protect local industries by restricting certain goods to be imported into their economy. Restriction in trade has been used to prevent dumping of goods and services form industrialized nations as this leads to lowering production and collapse of local industries and businesses. This factor of import restriction has been implemented in several European countries as they try to control the flow of goods and services in their economy. China’s products has been a major issue in most countries as they try to control the level and amount of goods from china as they are dumped in most countries and that way reducing the level of growth in the economy.
Kristina M. W. Mitchell, ‘Developing Country Success in WTO Disputes’, Journal of World Trade, July 2013
Developing countries are lacking enough representation in the world trade disputes settlement mechanism. They are said to lack a forum in which they can air their views on the global platform and thus end up suffering in economies of trade. Disputes between trading nations should be handled by a non-partisan body to avoid any favors on any given side. Developing countries due to lack of a clear policy on how to protect and implement their trade capacity have been left to suffer as their economies are subjected to dilapidated conditions by developed countries. The legal capacity to fine the offending partner in most cases has gone un-noticed due to lack of a clear mechanism to air their views on the global platform.
Week4: July 14-20
Maria Garcia, ‘Resources and Trade: Linking the Pacific through Bilateral Free Trade Agreements (FTA)’, World Trade Organization, July 2013.
China has been trying to negotiate with most of the pacific countries in implementing free trade with china. The recent free trade agreement negotiations have borne fruits for china as it has managed to sign trade agreements with Peru, Chile and Costa Rica. This move is geared toward increasing the level of trade between china and the south pacific nations. This will, increase trade relations and investment opportunities between these companies and will steer economic growth. The issue of free trade agreements allows for free movement of goods and services in and out of the country without restrictions by the government or other forces (Chris, 48). According to economic the free trade agreement will see china increase the amount of goods and services it offers these countries in a move that will increase china’s international trade immensely.
Rostam J. Neuwirth, ‘The Future of the ‘Culture and trade Debate’, Journal of World Trade, July 2013
Culture and trade has been going hand in hand for many centuries. Culture influences the level and amount of trade that a given area will carry out and at a given time. Different people follow different cultures which influence what they consume at any given time and in what amounts. Due to lobalization the culture of people is changing and this has been influential in increasing and adopting consumption habits. Trade on the world market is being controlled by different factors that range from economics, political and cultural factors that seek to influence how countries cooperate in trade agreements (Trefler, 1029). The future of international trade is bright as more technology and investment from different sectors of the economy.
Bernard Hoekman, ‘The World Bank Group Trade Strategy: Fit for Purpose’, Journal of World Trade, July 2013
Industrialization in many countries across the world is increasing and thus has led to increased interaction and co-operation among nations that form trade partners while encouraging others to join the trade. It is known that without international trade most nations would be limited to goods and services that are within their border and thus would lack crucial products offered in other countries. Advanced technology nowadays has made it possible for countries to share information and relations which are vital for good business opportunities as it ensures collective bargain between trading nations. In international trade factors of production are less mobile than in domestic trade as it is restricted by government policies that may seek to protect against damping by industrialized nations. Trade restrictions may exist in international trade when the terms of agreement between nations are not adhered to (Bowen, 791).
Ruwantissa Aberyratne, ‘Trade in Air Transport: Have We lost Our Way? (2013) 47, Journal of World Trade, Aug. 2013
Air transport is one of the major facilitators of international trade as it is responsible for movement of people and goods across international borders. Air transport has been influential in increasing the international tourism due to its effectiveness and time conscious. Air transport is one of the fastest means of transport in the world today and has facilitated the movement of perishable goods across continents (McKenzie, 165). This can be viewed by the amount of flowers and vegetables that some African countries sell to Europe and Asian countries. Despite this mode of transport being expensive it has been widely viewed as the safest means of travel by business people across the world.
James Scott, Rorden Wilkinson, ‘China Threat? Evidence from the WTO’, World Trade Organization, Aug 2013
The rise of the Chinese economy and the volume of trade it has on the international market have resulted in a shift in the control of international market in the world. The immense business carried out by Chinese business men and women across many countries have worried some of the developed countries. China has been viewed as a destabilizing force in international trade as it has taken over from the west which controlled much the trade in the world and this has led to establishment of new policies to curb this threat posed by china. Some of the affected countries include Germany, U.S, Great Britain and France that have suffered trade set back as a result of the increased trade by china to other countries that were former trading partners of these countries (Jones, 161).
Vivek Joshi, ‘Preferential Tariff Formation – The Case of the United States’ , Journal of World Trade, Oct 2013
The multilateral trade liberalization has been granted in the United State to cater for preferential tariffs. Multilateral trade agreements are signed between two or more countries and they regulate the volume of trade between the two nations (Leontief, 332). The United States have signed multilateral trade agreements with several countries that seek to encourage more trade between its partners as they mutually benefit. The country signed multilateral trade agreement that seek preferential tariffs with most of its trading partners for example Uruguay which has granted both countries the privilege to cooperate on trade matters.
Matthew Kennedy, ‘The integration of Accession into the WTO Agreement’, World Trade Organization, Oct 2013
The world trade organization has a mandate to enforce treaties that have been signed by different countries that are signatories to the organization and any dispute that might arise is handled by the dispute settlement system. Protocol of accession has in most cases been recommended by the body in a move to safe guard the integrity of the organization in its quest to promoting trade and commerce among nations across the world (Krugman, 91). The WTO agreement contains the accession protocol which forms an integral part of this organization and how it’s interpreted in case of dispute among nations.
Summary Listing of Articles by Topic
- Pollution
Michael s. Michael, ‘cross border pollution, public pollution and capital tax competition’, Munich, Germany, June 2011
Chad P. Bown, ‘Emerging Economies and the Emergence of South-South Protectionism’, World Bank, July 2013
- Trade
Kristina M. W. Mitchell, ‘Developing Country Success in WTO Disputes’, Journal of World Trade, July 2013
Maria Garcia, ‘Resources and Trade: Linking the Pacific through Bilateral Free Trade Agreements (FTA)’, World Trade Organization, July 2013.
Rostam J. Neuwirth, ‘The Future of the ‘Culture and trade Debate’, Journal of World Trade, July 2013
Bernard Hoekman, ‘The World Bank Group Trade Strategy: Fit for Purpose’, Journal of World Trade, July 2013
Ruwantissa Aberyratne, ‘Trade in Air Transport: Have We lost Our Way? (2013) 47, Journal of World Trade, Aug. 2013
James Scott, Rorden Wilkinson, ‘China Threat? Evidence from the WTO’, World Trade Organization, Aug 2013 Vivek Joshi, ‘Preferential Tariff Formation – The Case of the United States’ , Journal of World Trade, Oct 2013
Matthew Kennedy, ‘The integration of Accession into the WTO Agreement’, World Trade Organization, Oct 2013
Works Cited
Bernard Hoekman, ‘The World Bank Group Trade Strategy: Fit for Purpose’, Journal of World Trade, July 2013
Bowen, H. P.; E. E. Leamer and L. Sveiskas (1987). "A Multi-country Multi-Factor Test of the Factor Abundance Theory". American Economic Review 77: 791–809.
Chad P. Bown, ‘Emerging Economies and the Emergence of South-South Protectionism’, World Bank, July 2013
Chipman, John S. (1965). "A Survey of the Theory of International Trade: Part 1, The Classical Theory". Econometrica 33 (3): 477–519 Section 1.8.
Chris Edwards (1985) The fragmented world: competing perspectives on trade, money, and crisis, London and New York: Methuen & Co. §3.2 The 'Sraffian' Approach to Trade Theory, pp. 48–51.
James Scott, Rorden Wilkinson, ‘China Threat? Evidence from the WTO’, World Trade Organization, Aug 2013
Jones, Ronald W. (1961). "Comparative Advantage and the theory of Tariffs; A Multi-Country, Multi-commodity Model". Review of Economic Studies 28 (3): 161–175.
Jones, Ronald W. 1961 Comparative Advantage and the theory of Trarrifs; A Multi-Country, Muti-commodity Model, Review of Economic Studies, 28(3): 161–175. See pp. 166–8.
Kristina M. W. Mitchell, ‘Developing Country Success in WTO Disputes’, Journal of World Trade, July 2013
Krugman, P. R.; M. Obstfeld (1988). International Economics: Theory and Policy. Glenview: Scott, Foresman.
Leontief, W. W. (1953). "Domestic Production and Foreign Trade: The American Capital Position Re-examined". Proceedings American Philosophical Society 97: 332–349
Maria Garcia, ‘Resources and Trade: Linking the Pacific through Bilateral Free Trade Agreements (FTA)’, World Trade Organization, July 2013.
Matthew Kennedy, ‘The integration of Accession into the WTO Agreement’, World Trade Organization, Oct 2013
McKenzie, Lionel W. (1954). "Specialization and Efficiency in the World Production". Review of Economic Studies 21 (3): 165–180.
Michael s. Michael, ‘cross border pollution, public pollution and capital tax competition’, Munich, Germany, June 2011
Rostam J. Neuwirth, ‘The Future of the ‘Culture and trade Debate’, Journal of World Trade, July 2013
Ruwantissa Aberyratne, ‘Trade in Air Transport: Have We lost Our Way? (2013) 47, Journal of World Trade, Aug. 2013
Trefler, D. (1995). "The Case of Missing Trade and Other HOV Mysteries". The American Economic Review 85 (5): 1029–1046.
Vivek Joshi, ‘Preferential Tariff Formation – The Case of the United States’ , Journal of World Trade, Oct 2013
Yeats, A., 2001, "Just How Big is Global Production Sharing?" in Arndt, S. and H. Kierzkowski (eds.), 2001, Fragmentation: New Production Patterns in the World Economy, (Oxford University Press, Oxford).
