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Did economic nationalism call for nations to strike trade deals with other nations colonies?
True
Which of the three ipe approaches best accounts fot he relationship of the northern industrualized nations to the southern developing nations when it comes to trade?
The dependency theory within the international political economy (IPE) framework best accounts for the relationship between northern industrialized nations and southern developing nations regarding trade. This approach emphasizes how the economic structures of developing nations are often shaped by and reliant on the industrialized nations, leading to unequal trade relationships. It argues that the wealth of northern countries is built on the exploitation of resources and labor in the south, perpetuating a cycle of dependency and underdevelopment. This perspective highlights the systemic inequalities in global trade dynamics.
3 importance resons why nations trade?
there are 4 powerful economic reasons for countries to trade: - Comparative advantage (Able to produce something more efficiently than other countries) - Economic of scales (lower cost due to specialization and mass production) - International competition => beneficial for the world - Spread of technology Other non economic reasons -Increased consumer choice -Political and social gains due to trade treaties (Peace between countries who trade)
Do all countries benefit from trade?
Not all countries benefit equally from trade; the outcomes can vary based on factors like economic structure, trade policies, and bargaining power. While trade can enhance economic growth and access to resources, it may also lead to dependency on imports or negatively impact local industries. Additionally, some countries may face unequal terms of trade that can exacerbate existing inequalities. Overall, while trade has the potential to benefit many, the impacts are not uniformly positive for all nations involved.
Economic system in which nations develop a favorable balance of trade by exporting more than importing?
balance of trade
Did economic nationalism call for nations to strike trade deals with other nations colonies?
True
What are normal trade relations in economic?
a treaty to create favorable trade terms between two nations
Which of the three ipe approaches best accounts fot he relationship of the northern industrualized nations to the southern developing nations when it comes to trade?
The dependency theory within the international political economy (IPE) framework best accounts for the relationship between northern industrialized nations and southern developing nations regarding trade. This approach emphasizes how the economic structures of developing nations are often shaped by and reliant on the industrialized nations, leading to unequal trade relationships. It argues that the wealth of northern countries is built on the exploitation of resources and labor in the south, perpetuating a cycle of dependency and underdevelopment. This perspective highlights the systemic inequalities in global trade dynamics.
3 importance resons why nations trade?
there are 4 powerful economic reasons for countries to trade: - Comparative advantage (Able to produce something more efficiently than other countries) - Economic of scales (lower cost due to specialization and mass production) - International competition => beneficial for the world - Spread of technology Other non economic reasons -Increased consumer choice -Political and social gains due to trade treaties (Peace between countries who trade)
Do all countries benefit from trade?
Not all countries benefit equally from trade; the outcomes can vary based on factors like economic structure, trade policies, and bargaining power. While trade can enhance economic growth and access to resources, it may also lead to dependency on imports or negatively impact local industries. Additionally, some countries may face unequal terms of trade that can exacerbate existing inequalities. Overall, while trade has the potential to benefit many, the impacts are not uniformly positive for all nations involved.
Why did WTO start?
To liberalize trade among nations and avoid wars created by trade and economic problems
Economic system in which nations develop a favorable balance of trade by exporting more than importing?
balance of trade
What are static and dynamic gains of trade?
Static Gains of Trade: Reduced costs from economies of scale Efficiency gains from exploiting comparative advantage Reduction in distortion from imperfect competition Increased product variety Dynamic Gains of Trade: Benefits from trade that accumulate over time in addition to static gains from trade Static Gains of Trade: Reduced costs from economies of scale Efficiency gains from exploiting comparative advantage Reduction in distortion from imperfect competition Increased product varietyDynamic Gains of Trade: Benefits from trade that accumulate over time in addition to static gains from trade.
What is one major goal of U.S. economic foreign policy?
Reducing trade barriers
What was a major feature of the early modern globalization of international trade?
The unequal economic and commercial relationships and the dependence of many other states on European states.
How did Wilson address International trade?
President Woodrow Wilson addressed international trade by advocating for open markets and free trade principles in his Fourteen Points, particularly emphasizing the removal of economic barriers between nations. He believed that economic cooperation and trade could help prevent future conflicts by fostering interdependence among nations. Additionally, Wilson's support for the League of Nations included the idea that international economic stability was essential for peace, promoting the idea that collective security would benefit global trade.
Which one is the obstacle of international trades The difference of nations' ideology or the difference of economic structure?
The economic structure is one of the obstacle of international trade.
