罗伯特·凯伯国际经济学课件91.ppt

International EconomicsBy Robert J. Carbaugh9th Edition International EconomicsBy Robert J. Carbaugh9th Edition Chapter 1: The International Economy Elements of interdependence Trade: goods, services, raw materials, energy Finance: foreign debt, foreign investment, exchange rates Business: multinational corporations, global production Forces driving globalization Technological change: Production Communication information Transport Liberalization of trade investment: Tariff, non-tariff barrier reductions Liberalized financial transactions International financial markets Waves of Globalization 1st wave: 1870-1914 Falling tariff barriers improved transportation 2nd wave: 1945-1980 Agreements to lower barriers again Rich country trade specialization Poor nations left behind 3rd wave: 1980-present Growth of emerging markets international capital movements regain importance Exports of goods and services as percent of Gross Domestic Product, 2001 Leading trading partners of the United States, 2000 Interdependence: Impact Overall standard of living is higher Access to raw materials energy not available at home Access to goods components made less expensively elsewhere Access to financing and investment not available at home International competition encourages efficiency Interdependence: Impact (cont’d) Other impacts - good bad Curtails inflationary pressures at home Limits domestic wage increases Makes economy vulnerable to external disturbances Limits impact of domestic fiscal policy on economy Comparative advantage means: If the relative cost of making two items is different in two countries, each can gain by specializing in the one it makes most cheaply - each has a comparative advantage in that product Even countries that make nothing cheaply can benefit from specialization Common fallacies of international trade Trade is zero-sum - trade can bring benefits to both partners Imports bad, exports good - if you buy nothing from other countries, they have no inc