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Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market.

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I feel like trade is an excellent idea and I believe everyone should participate in it. I read the article, "Brazil Eliminates Import Tariffs on Certain I.T. and Telecom Equipment". It explains how Brazil eliminated tariffs on 20 types of information technology and telecom equipment. The article also talked about how Led screens and routers are made there and they were a big part of the exports.

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Trade is very very important and it makes it more likely for us to have more stuff and it makes the stuff we buy more cheap instead of spending more on us made products. It helps both parties grow economically and makes life all around better in general and makes everything easier.

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International trade represents the sale and trade of goods, services and capital across international borders. Such trade of food, clothes, machinery, oil, commodities and currency gives corporations access to customers throughout the world, and it gives customers opportunities to purchase a wider selection of goods and services.

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Trade is one of the best things that we all do. Without trade we would not make progress as fast, as we did with trade. People can get things that they want that they did not have at the start. There are thing we have because of trade those thing are thing we might need to have. If they took trade away for us things would go bad fast. We would be know where without trade it has shaped the world.

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https://www.trade.gov/
Trade is very important to everyone, as we wouldn't have a lot of the stuff we have today without it.    We need trade to get the materials to build things like buildings, planes, cars, and we need the materials to produce goods that people buy at stores. The things we use in our worlds runs on trade, without it, the world would be extremely different. Our world is very advanced and more effecient because of it.

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International Trade Administration | Trade.gov

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Looking to grow your company's international sales? Trade missions are an excellent way to connect with vetted foreign buyers, sellers, and investors. See where we're heading in 2024 and deadlines for signing up.

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ITA strengthens the competitiveness of U.S. industry, promotes trade and investment, and ensures fair trade through our trade laws and agreements.

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I feel that trade is a good thing because it allows our economy to grow.
https://www.usnews.com/news/world/articles/2021-09-30/taiwan-questions-chinas-suitability-for-pacific-trade-pact-fears-obstruction
China's restrictive practices present fundamental problems for its application to join a major pan-Pacific free trade pact, and if it joins before Taiwan there is a risk it could block their application.

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By Ben Blanchard, Yimou Lee and Jeanny Kao

TAIPEI (Reuters) - China's restrictive practices present fundamental problems for its application to join a major pan-Pacific free trade pact, and if it joins before Taiwan there is a risk it could block their application, the island's economy minister said.

Taiwan and China both applied last month to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), but China says it opposes Taiwan - which it claims as its own territory - joining.

"If China enters first, certainly there is a risk of them obstructing Taiwan," Taiwan Economy Minister Wang Mei-hua told Reuters in an interview late on Thursday. "Taiwan joining anything, they oppose."

China says it has the right to represent Taiwan's 23.5 million people in international bodies regardless of the island's claim that it is an independent country.

Political Cartoons on World Leaders

Beijing has numerous issues, from internet censorship to labour rights, that call into question whether it can reach the CPTPP's high standards, she added, saying those requirements are set to "challenge China's very fundamental systems".

"If China can change these, I think changing this system and then entering (the trade pact) is not a bad thing. But the prerequisite is that if this system is not changed, why can they enter CPTPP? This is an issue I don't really understand," she added.

"Look at their information - nothing can enter. Facebook can't enter, Google can't enter," Wang said, referring to China's blocking of both major sites, which it does to a slew of Western internet firms including Twitter, all in the name of national security.

The original 12-member agreement, known as the Trans-Pacific Partnership (TPP), was seen as an important economic counterweight to China's growing influence.

But the TPP was thrown into limbo in early 2017 when then-U.S. President Donald Trump withdrew the United States.

The grouping, which was renamed the CPTPP, links Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Taiwan, a major semiconductor producer, has applied to join under the name it uses in the World Trade Organization (WTO) - the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu. Taiwan is also a member of the Asia-Pacific Economic Cooperation grouping.

Wang said Taiwan was not aware of any CPTPP member objecting to their application, in contrast to the disquiet expressed by Japan in particular about China's bid.

"At the very least after we submitted the written application, we've not heard that any member opposes, not like after China applied, when some countries brought it up."

Taiwan has been angling for free trade deals with other countries, especially other democracies. Wang said if it joined, it would not need to seek a separate agreement with Australia, or fellow CPTPP applicant Britain.

While talks to enter the WTO went on for more than a decade, Wang said she did not think it would take that long for the CPTPP, but added it was hard to give a timetable.

"I think if the political obstacles can be reduced as much as possible, I don't believe talks will go on for decades."

(Reporting by Jeanny Kao, Yimou Lee and Ben Blanchard; Editing by William Mallard)

Copyright 2021 Thomson Reuters.

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Taiwan Questions China's Suitability for Pacific Trade Pact, Fears 'Obstruction'

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By Ben Blanchard, Yimou Lee and Jeanny Kao TAIPEI (Reuters) - China's restrictive practices present fundamental problems for its application to join a major pan-Pacific free trade pact, and if it joins before Taiwan there is a risk it could block their application, the island's economy minister said.

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Trade increases prosperity for Americans and the citizens of all participating nations by allowing consumers to buy more, better quality products at lower costs. It drives economic growth, enhanced efficiency, and increased innovation.

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Overall, trade is a very effective and useful way of giving up something worth less value for something of more beneficial value. Most trades will result in a win win situation for both parties, and can benefit both countries involved in the trade. In the Investopedia article written by Adam Hayes, economists advocate for free trade between nations, but protectionism such as tariffs may present themselves due to political motives, for instance with "trade wars."

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What Is Trade?

Trade is the voluntary exchange of goods or services between different economic actors. Since the parties are under no obligation to trade, a transaction will only occur if both parties consider it beneficial to their interests.

Trade can have more specific meanings in different contexts. In financial markets, trade refers to purchasing and selling securities, commodities, or derivatives. Free trade means international exchanges of products and services without obstruction by tariffs or other trade barriers.

Key Takeaways

How Trade Works

As a generic term, trade can refer to any voluntary exchange, from selling baseball cards between collectors to multimillion-dollar contracts between companies.

In macroeconomics, trade usually refers to international trade, the system of exports and imports that connects the global economy. A product sold to the global market is an export, and a product bought from the global market is an import. Exports can account for a significant source of wealth for well-connected economies.

International trade results in increased efficiency and allows countries to benefit from foreign direct investment (FDI) by businesses in other countries. FDI can bring foreign currency and expertise into a country, raising local employment and skill levels. For investors, FDI offers company expansion and growth, eventually leading to higher revenues.

A trade deficit is a situation where a country spends more on aggregate imports from abroad than it earns from its aggregate exports. A trade deficit represents an outflow of domestic currency to foreign markets. This may also be referred to as a negative balance of trade (BOT).

$28.5 trillion

International Trade

International trade occurs when countries put goods and services on the international market and trade with each other. Without trade between different countries, many modern amenities people expect to have would not be available.

Comparative Advantage

Trade seems to be as old as civilization itself-ancient civilizations traded with each other for goods they could not produce for themselves due to climate, natural resources, or other inhibiting factors. The ability of two countries to produce items the other could not and mutually exchange them led to the principle of comparative advantage.

This principle, commonly known as the Law of Comparative Advantage, is popularly attributed to English political economist David Ricardo and his book On the Principles of Political Economy and Taxation in 1817. However, Ricardo's mentor James Mill likely originated the analysis.

Ricardo famously showed how England and Portugal benefited by specializing and trading according to their comparative advantages. In this case, Portugal was able to make wine at a low cost, while England was able to manufacture cloth cheaply. By focusing on their comparative advantages, both countries could consume more goods through trade than they could in isolation.

The theory of comparative advantage helps to explain why protectionism is often counterproductive. While a country can use tariffs and other trade barriers to benefit specific industries or interest groups, these policies also prevent their consumers from enjoying the benefits of cheaper goods from abroad. Eventually, that country would be economically disadvantaged relative to countries that conduct trade.

Example of Comparative Advantage

Comparative advantage is one country's ability to produce something better and more efficiently than others. Whatever the item is, it becomes a powerful bargaining tool because it can be used as a trade incentive for trading partners.

When two countries trade, they can each have a comparative advantage and benefit each other. For instance, imagine a country that has limited natural resources. One day, a shepherd stumbled upon an abundant cheap and renewable energy source only occurring within that country's borders that could provide enough clean energy for its neighboring countries for centuries. As a result, this country would suddenly have a comparative advantage it could market to trading partners.

Imagine a neighboring country has a booming lumber trade and can manufacture building supplies much cheaper than the country with the new energy source, but it consumes a lot of energy to do so. The two countries have comparative advantages that can be traded beneficially for both.

Benefits of Trade

Because countries are endowed with different assets and natural resources, some may produce the same good more efficiently and sell it more cheaply than others. Countries that trade can take advantage of the lower prices available in other countries.

Here are some other benefits of trade:

It increases a nation's global standing

It raises a nation's profitability

Creates jobs in import and export sectors

Expands products variety

Encourages investment in a country globally

Criticisms of Trade

While the law of comparative advantage is a regular feature of introductory economics, many countries try to shield local industries with tariffs, subsidies, or other trade barriers. One possible explanation comes from what economists call rent-seeking. Rent-seeking occurs when one group organizes and lobbies the government to protect its interests.

For example, business owners might pressure their country's government for tariffs to protect their industry from inexpensive foreign goods, which could cost the livelihoods of domestic workers. Even if the business owners understand trade benefits, they could be reluctant to sacrifice a lucrative income stream.

Moreover, there are strategic reasons for countries to avoid excessive reliance on free trade. For example, a country that relies on trade might become too dependent on the global market for critical goods.

Some development economists have argued for tariffs to help protect infant industries that cannot yet compete on the global market. As those industries grow and mature, they are expected to become a comparative advantage for their country.

What Are the Types of Trade?

Generally, there are two types of trade-domestic and international. Domestic trades occur between parties in the same countries. International trade occurs between two or more countries. A country that places goods and services on the international market is exporting those goods and services. One that purchases goods and services from the international market is importing those goods and services.

What Is the Importance of Trade?

Trade is essential for many reasons, but some of the most commonly cited ones are lowering prices, becoming or remaining competitive, developing relationships, fueling growth, reducing inflation, encouraging investment, and supporting better-paying jobs.

What Are the Advantages and Disadvantages of Trade?

Trade offers many advantages, such as increasing quality of life and fueling economic growth. However, trade can be used politically through embargoes and tariffs to manipulate trade partners. It also comes with language barriers, cultural differences, and restrictions on what can be imported or exported. Additionally, intellectual property theft becomes an issue because regulations and enforcement methods change across borders.

The Bottom Line

Trade is the exchange of goods and services between parties for mutually beneficial purposes. People and countries trade to improve their circumstances and quality of life. It also develops relationships between governments and fosters friendship and trust.

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Trade Definition in Finance: Benefits and How It Works

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Trade is a fundamental economic concept that describes a voluntary exchange between several parties. Understanding trade is essential to the study of economics.

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unregulated trade is vital to any economy and allows for the growth of all societies.

https://www.wsj.com/articles/america-tpp-china-japan-indo-pacific-trade-influence-11632931688

in 2017 the US with drew from TPP and lead to China gaining a choke hold on the indo-Asian market and the Us needs to re enter the market and the new administration is planing on re entering the market.

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It was February 2017 and President Trump's first address to a joint session of Congress. I was on the floor of the U.S. House as a guest of a pro-trade Republican congressman. As the president announced the U.S. withdrawal from the Trans-Pacific Partnership, I was thinking about a conversation I'd had with a particularly astute Asian ambassador. He'd suggested to me that if a book on the decline of American influence in Asia and the Indo-Pacific were ever written-and he hoped it never would be-its first chapter would be an account of the withdrawal of the U.S. from TPP.

Largely because of Japan's courageous decision to proceed without the U.S., TPP survived. With some changes to a few of its provisions and a new moniker-Comprehensive and Progressive TPP, or CPTPP-it went ahead. Nothing would have been possible if Japan, by far the dominant remaining economy in the agreement, had decided differently.

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Opinion | The U.S. Has a Way Back on Pacific Trade

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It was February 2017 and President Trump's first address to a joint session of Congress. I was on the floor of the U.S. House as a guest of a pro-trade Republican congressman. As the president announced the U.S. withdrawal from the Trans-Pacific Partnership, I was thinking about a conversation I'd had with a particularly astute Asian ambassador.

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Trade is a good thing because it helps our economy grow. It allows the economy to grow because we could trade our things that aren't as valuable to us for something we value in another country. The article I read was "EU Backs U.S. Tech Trade Declaration After French Concerns." This article says that the EU and the US are wanting to cooperate technology with each other and other countries, but the French blocked the idea.

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BRUSSELS (Reuters) - European Union governments committed to a joint EU-U.S. declaration on technology cooperation on Wednesday, just in time for a key transatlantic meeting, after France threatened to block it unless it was watered down, EU diplomats said.

Senior U.S. and European Union officials aim to discuss semiconductor shortages, artificial intelligence and tech competition issues at the inaugural meeting of the Trade and Technology Council (TTC) on Wednesday.

The TTC meeting had been in doubt last week because of French anger over Australia's scrapping of a $40 billion submarine contract and decision to opt instead for a deal with the United States and Britain to buy nuclear-powered vessels.

EU diplomats said France wanted to strike out a reference to a second meeting in spring 2022, when the French presidential election will take place.

It also sought to soften language on a proposed semiconductor supply chain partnership that said the EU and the United States were mutually dependent, the diplomats said.

After talks until late on Tuesday, reference to the second meeting was struck and the semiconductor passage was adjusted to highlight short-term, rather than long-term, supply dependency.

The revised text was cleared on Wednesday at a meeting of EU ministers on competitiveness of the EU market.

Diplomats said French reservations were less related to the submarine dispute and more to France's stronger belief in EU autonomy.

U.S. Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, U.S. Trade Representative Katherine Tai will host European Commission vice presidents Valdis Dombrovskis and Margrethe Vestager in a forum in Pittsburgh also designed to set tech standards.

(Reporting by Philip Blenkinsop, Editing by William Maclean)

Copyright 2021 Thomson Reuters.

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EU Backs U.S. Tech Trade Declaration After French Concerns

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BRUSSELS (Reuters) - European Union governments committed to a joint EU-U.S. declaration on technology cooperation on Wednesday, just in time for a key transatlantic meeting, after France threatened to block it unless it was watered down, EU diplomats said. Senior U.S.

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Trade is one of the most important factors to the global economy. It allows for more goods and services not acquired in most places be able to be exchanged for a sought after item in another region. Without trade we wouldn't have many things that we have today. Trade increases market competition and lowers global prices

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Trade is the center of many nation’s economy. Trade not only creates more jobs for each country but it also lets both parties benefit from the transaction. We see trade everywhere, either in the store or nationally.

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Trade is a very important asset to our economy. Trade makes the world easier and better. It allows everyone to work together and use each others products and goods. This allows each country to benefit off each others resources.

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Trade is extremely important to our economy. It boosts our economy and allows for more goods and services to be exchanged. Trade also allows the quality of living increase.
https://ustr.gov/about-us/benefits-trade

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The United States is the world's largest economy and the largest exporter and importer of goods and services. Trade is critical to America's prosperity - fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services.

In 2017, the U.S. was the world's largest goods and services trading nation, with exports of goods and services totaling $2.35 trillion.

* U.S. goods and services trade (exports plus imports) totaled $5.3 trillion during 2017, up 6.5% ($321 billion) from 2016, and up 31% from 2007. U.S. goods trade totaled $3.9 trillion and U.S. services trade totaled $1.3 trillion.

* Agricultural goods accounted for $264 billion in total (two way) U.S. trade during 2017. Exports were $143 billion; Imports $121 billion; and the trade surplus was $22 billion.

* Manufacturing (a subcategory of goods trade) accounted for $3.3 trillion in total (two way) U.S. trade during 2017, up 5.3% from 2016, and up 24% from 2007.

* Services accounted for $1.3 trillion in total (two way) U.S. trade during 2017, up 5.6% from 2016, and up 56% from 2007. The United States is the largest services trading country in the world.

Trade expansion benefits families and businesses by:

* Supporting more productive, higher paying jobs in our export sectors

* Expanding the variety of products for purchase by consumers and business

* Encouraging investment and more rapid economic growth

Trade keeps our economy open, dynamic, and competitive, and helps ensure that America continues to be the best place in the world to do business.

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The United States is the world's largest economy and the largest exporter and importer of goods and services. Trade is critical to America's prosperity - fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services. The U.S.

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I feel that trade is a necessity for life today. It gives people the opportunity to give up something with less value to them in exchange for something of more value, while making the other party happy.

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Trade is a very important to a good economy, because without trade, the economy and income will more then likely fall. Trade also improves trust in other countries but also creates a lot of trouble. The article I found is an example of some negatives about trade.

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I see trade as a good beneficial thing. It is better to trade something you dont want for something you do, rather than throwing the old thing away and just buying a new one. The use of trade gives something that one person doesn't want, or value as much as the other object. The article I chose was similar to the red paperclip. The girl in the article, Erica Hoff, was inspired by Kyle MacDonald, but wanted to add her own twist to the trading process. Instead of trading for a house, she wants to trade for a van. Seeing a real persons experience with trade made me realize how significant it was in our world. She mentioned that she met a couple who was moving, so they gave her a tent since they didn't need it anymore. The article explained a few other trades she made, although it never said if she reached her goal or not.

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I started the project in early August, and I was inspired by a project that was done in 2006, called 'One Red Paperclip.' This guy, Kyle MacDonald, had a red paperclip and he traded it up to a house over the course of a year. The projects I had seen where people had successfully done something similar, both of them had the end goal of a house. Given my more nomadic lifestyle, I am not looking to settle into a house right now, and so I was thinking, "What can I do that's a little more on-brand for myself?" A Sprinter van.
What drew you to van living?
I was traveling around the country for [political] campaigns. I started out in Iowa, working with Pete Buttigieg on the presidential primary. When he dropped out of the race, I did this whole crosscountry road trip on my own through 33 states over the course of 2020 in my little Acura TL. I ended with the campaign trail in November of 2020, and decided to go in a different direction. I still want to link social issues into everything that I do, but just not work directly in Washington. I think this van would, as a freelancer, give me the opportunity to move around and see the country as I continue to do my own work.
What role has social media played in your trade project?
I've created TikTok, YouTube, and Instagram reels and short-form video content. For every trade, I'm trying to market it online. After I released that first video, I got 24,000 views and that was before I even made a trade. I felt like I had a lot of eyes on me and I needed to pick the right thing
What are peoples' motivations for trading with you?
The second trade, I met this couple moving to Belize, and they gave me a tent, because they didn't need to take it, I guess. The third person I met with the saxophone, he was a horticulturist and had played the saxophone for his entire life. He said he spends a lot more time outdoors now, so he has more use for a tent than a saxophone. Then the fourth person worked for USAID, the government aid relief agency, in Pakistan for two and a half years, where he purchased the rugs he traded me. We had a two-hour-long lunch conversation about his work in Pakistan, and his experience of the culture and purchasing the rugs.
Beyond the camper van, what is your end goal with this project? What will you do with the stories and footage you're collecting?
My dream is to be able to do some sort of cultural documentary interview series. I see [the project] as a first jump into working more with my camera in a home documentary style. Figuring out what storytelling looks like to me, and what kind of stories I want to share. That is definitely the direction I'd like to go-into documentary film production.
Support independent local journalism. Join the INDY Press Club to help us keep fearless watchdog reporting and essential arts and culture coverage viable in the Triangle.

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I started the project in early August, and I was inspired by a project that was done in 2006, called 'One Red Paperclip.' This guy, Kyle MacDonald, had a red paperclip and he traded it up to a house over the course of a year.

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Trade around the world helps every country. In the United states though trade strengthens the competitiveness of the U.S industry. It also helps us grow.

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I think trade is very good and useful to our country and world. When being able to have trade we can get things we physically cant grow or make from other countries for our use. Then as we get those things we then can make more trades for better things if we have to much or extra and another country is lacking that supply, then we can trade with them for something else we need.

International Trade and World Market (Trade Disputes) is the name of the article and it just gives you a whole bunch of other articles you can look at to see what other country's are needing or trading and whats going on. Like China is looking at a problem because they are using a lot more solar powered things so they are skeptical about Christmas because they don't know if their will be enough solar energy to power everyone lights and things like that.

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Trade is very important to the global economy, without it, all countries would suffer. The past two years of dealing with the corona virus have taken a tole on international trade and the nations limited by it. Because of the highly contagious nature of the virus, trade was limited from China and other Asian countries. With fear of spreading it via goods, trade and travel were halted to some global locations.

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enanuchit - stock.adobe.com

The Coronavirus disease (COVID-19) outbreak in China that occurred nearly two years ago soon catapulted into a global health crisis that led to severe economic shocks almost all over the world. According to estimates published by UNCTAD, in March 2020, the slowdown of manufacturing in China due to the Coronavirus is disrupting world trade and could result in a $50 billion decrease in exports across global value chains. The report also suggested that the most affected economies at the time were the European Union ($15.6 billion), the United States ($5.8 billion), Japan ($5.2 billion), The Republic of Korea ($3.8 billion), Taiwan Province of China ($2.6 billion) and Vietnam ($2.3 billion), with India too ranking amongst the Top 15 nations.

Just like it did in many parts of the world, the virus wreaked havoc in India. The situation in 2020 had reached such an abysmal state that the International Monetary Fund (IMF) projected the Indian economy is expected to contract by 10.3% in the fiscal year.

In an attempt to mitigate the situation, India implemented a nationwide lockdown in March 2020. As a result of the stringent restrictions, markets struggled for finances and millions became jobless, leading to an economic slump that has severely hampered international trade. Being that India is the sixth biggest economy in the world by GDP, the global trade ecosystem is still reeling from the impacts of these measures today, and the ramifications may not be properly assessed until well into the future.

Overview of COVID-19 impact on India's exports

The Federation of Indian Export Organisations (FIEO) claimed that Indian exports had been badly impacted in the first wave of the pandemic. This was because India obtains raw materials, components and hardware from China to make finished products for its domestic/global consumption. With manufacturing facilities having slowed down in China, the production of leather, electronics, etc. also died down in India, thus affecting U.S. imports from the country.

The United States was one of India's key trade partners that felt the brunt of the pandemic's impact. According to data from India's Commerce Ministry, exports to the United States, India's largest outbound destination for goods, plummeted 11.3% in 2020 compared to 2019. And, it could have been worse if it hadn't been for the robust trade growth between the two countries for certain product groups that showed resilience during the pandemic.

There are a number of factors that contributed to the economic disruptions and current rise in demand for Indian goods in the United States.

Lockdown restrictions

India was among the first few nations of the world to undergo a complete lockdown to contain the spread of the virus. The United States, among several other countries, imposed stringent measures a little soon thereafter. By then, orders from the United States had already begun piling in India, which India was unable to fulfill, having been knee-deep in the pandemic crisis. The situation more or less continued throughout the year, with eventually the United States relaxing its norms and India dealing with the aftermath of the lockdown.

FIEO claimed that the order books had begun improving by August 2020, especially with many orders coming from Europe and the United States. However, labor shortage due to migration, factories running only at 60% of their total capacity, quarantine measures taken for the crew at docks, to name a few, led to delays in trade and impacted India's imports from the United States.

Supply chain constraints

The container shortage crisis is one of the main factors to examine when assessing the pandemic's impact on global trade.

The significant decrease in container availability in Asia affected the entire supply chain and severely impacted exports to the United States in particular. Due to the shortage, the shipping industry was faced with a reduced workforce, fewer shipping vessels operating, erratic movements in demand for various commodities and empty containers stranded at North American ports, all compounding the crisis further. Unlike China, India was slow to recuperate from the losses and may have failed to jump on opportunities to export to the United States, which is the largest importer in the world.

Data from The Trade Map of India reveals that the exports to the United States from India have grown more than 20% in the first quarter of 2021 (April-June) than it did in the same period in 2019. However, going ahead, The Trade Promotion Council of India said that exporters might opt for proximate markets instead of long-haul destinations like the United States. Experts believe this change in strategy is due to skyrocketing freight costs and longer turnaround time for containers, which will hit exports to the United States.

With many countries looking for alternate geographies to China to set up their manufacturing hubs, India will scale up production to meet the demand in the United States and continue to make progress toward becoming a key player in the global trade ecosystem once more.

There are some things working in the country's favor. India could stand to benefit from the fallout in the ongoing U.S.-China trade war and tap into new opportunities. And, the Indian government has proven that it is willing to take robust measures that modernize infrastructure and ensure the smooth flow of goods, with extra health and security measures for its laborers, which will be critical for the nation's growth in addition to boosting its trade relations with the United States.

Rising prices of raw materials

According to the World Bank's Commodity Markets Outlook, the prices of raw materials are expected to be 10% higher this year on average, compared to 2020, before stabilizing in 2022. Experts attribute the price hike to the increased production cost for most manufacturers because of higher input costs.

Over the last few months, in India, the rising global demand for specific raw materials like steel, cotton yarn, dyes, etc., has led to spiraling prices and the fears of closure of units due to an acute shortage of feedstock. If the situation continues to worsen, exporters feel it will hamper production and the export of raw materials to major western markets.

For Indian exporters, the price rise couldn't have come at the worst time. With the export-oriented economies gearing up for the biggest shipping season of the year, the U.S. holiday season, the ongoing inflation is bound to shake things for sure, perhaps even leaving slim chances or crushing altogether the export opportunities for small-sized Indian businesses.

Conclusion

Data from the Directorate General of Foreign Trade reveals that the United States comprised a 23.34% share of India's total exports worth $5,421.82 million during April 2021-22. To be sure, trade has shown some signs of improvement. But, the road to full recovery will likely be a long one.

Even though the bilateral trade situation between these two countries may be reaching the pre-pandemic levels, constant changes in the supply chain and other circumstances can drastically modify the scenario. The United States is the world's largest trading nation, so India must ensure it does whatever it can to build a strategic relationship with the superpower to carve its name in the global trade space.

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Ripple Effects of COVID-19's Impact on Global Trade

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enanuchit - stock.adobe.com The Coronavirus disease (COVID-19) outbreak in China that occurred nearly two years ago soon catapulted into a global health crisis that led to severe economic shocks almost all over the world.

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In the article "Europe and China must continue talking despite disagreements, EU says", Both The European Union and China did not like each other much. But they have to lay out problems about a video call.

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Trade is very useful and allows countries and people to get something that benefits them more than what they originally have. In the article it explains how international trade helps other countries be able to gain resources they dont have much of for the resources they do have a lot of, or that they specialize in.

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International trade represents the sale and trade of goods, services and capital across international borders. Such trade of food, clothes, machinery, oil, commodities and currency gives corporations access to customers throughout the world, and it gives customers opportunities to purchase a wider selection of goods and services.

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Trade around the world helps every country. In the United states though trade strengthens the competitiveness of the U.S industry. The international trade association makes sure that the countries have fair trade through out all of them even with the laws and agreements. It also helps to improve the global business environment and U.S organizations compete at home and aboard.

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International Trade Administration | Trade.gov

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Looking to grow your company's international sales? Trade missions are an excellent way to connect with vetted foreign buyers, sellers, and investors. See where we're heading in 2024 and deadlines for signing up.

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ITA strengthens the competitiveness of U.S. industry, promotes trade and investment, and ensures fair trade through our trade laws and agreements.

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Trade is one way to obtain items with a higher value to yourself. I see trade as a good thing because you could possibly grow your trades into something much bigger than what you started with. It also strengthens the competitiveness of U.S. Industry. Although there are laws and agreements, these laws actually help improve international trade.

https://www.trade.gov/

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International Trade Administration | Trade.gov

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Looking to grow your company's international sales? Trade missions are an excellent way to connect with vetted foreign buyers, sellers, and investors. See where we're heading in 2024 and deadlines for signing up.

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ITA strengthens the competitiveness of U.S. industry, promotes trade and investment, and ensures fair trade through our trade laws and agreements.

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An article in the U.S. News, "U.S. Trade Deficit Rises to Record $74.4 Billion in March, Driven by Consumer Demands for Imports", states the the rise in imports shows the U.S. Economy is out performing the rest of the world. This high demand for imports, I think, benefits other countries' economies as well. Plus, when we order items from other countries, they more than likely order more from us.

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Trade is the foundation of our economy and our daily life's.Without trade we wouldn't have many of the things that we have today.We wouldn't have very many clothing apparel or a wide variety of vehicles like we do now.In the article International Trade by Econlib, it says that trade is just as "advantageous" and that exports are more important than our imports.
https://www.econlib.org/library/Enc/InternationalTrade.html

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Trade helps every nation and even every business grow. By using trade, we gain things that help us advance even more. We can trade for stuff and have more time to do research and even invent new things instead of having to create our own things all day. It is even used to cause competitiveness between businesses, which is more reflected on in the article above.

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International Trade Administration | Trade.gov

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Looking to grow your company's international sales? Trade missions are an excellent way to connect with vetted foreign buyers, sellers, and investors. See where we're heading in 2024 and deadlines for signing up.

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ITA strengthens the competitiveness of U.S. industry, promotes trade and investment, and ensures fair trade through our trade laws and agreements.

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Trade allows countries and nations all over the globe to gain goods and services that they cannot produce themselves. The only problem with trade is possible overspecialization which can cause hundreds of workers to lose their jobs.

I chose the article "Great Reopening Trade Is Back as Hedge Funds Add Stock Longs" by Justina Lee. The article primarily explains how investing styles hitched to the business cycle return with yields, and data from JPMorgan shows how fast money is adding a risk-on bet.

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Trade is a driving force behind our economy and standard of living. Without trade, we would be worse off. In the article I found, Jordan reopened border crossings with Syria to boost trade. With my knowledge of trade, I know that this will benefit both countries.

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JABER CROSSING, Jordan (Reuters) -Jordan fully reopened its main border crossing with Syria on Wednesday in a move to boost the countries' struggling economies and reinforce a push by Arab states to reintegrate Syria after shunning it during its civil war.

Syrian trucks waited to enter Jordan at the Jaber border crossing and taxis carrying passengers lined up to pass through customs and immigration control.

"The security situation is now stable on the Syrian side and we hope it remains stable," Colonel Moayad Al Zubi, the head of Jaber crossing, told Reuters.

The Jaber crossing had reopened in 2018 after the Syrian government drove rebels from the south, but the COVID-19 pandemic led to measures being imposed to curb transmission of the virus.

Political Cartoons on World Leaders

Syria, which blames Western sanctions for its economic problems, hopes wider business links with its southern neighbour will help it recover from a decade of war.

"The aim of these understandings is to boost trade exchange between the two countries to achieve the interests of every party," Jordanian trade and industry minister Maha Al Ali told state-owned Al Mamlaka television.

Officials in Jordan, a U.S. ally, and Lebanon have urged Washington to ease sanctions on Syria.

"We now are feeling there is a U.S. move to give a bigger space for Jordanian businessmen to deal with Syria," said Jamal Al Refai, vice chairman of the Jordan Chamber of Commerce.

Andre Bank, senior research fellow and Syria expert in the German Institute for Global and Area Studies think tank, said the full reopening of the border crossing was a gain for Syrian President Bashar al-Assad.

"It is another important step in the regional normalisation of the Assad regime. Within the regional balance of power between the different Arab states, the pendulum seems to be swinging more towards the pro-Assad friendly side," Bank said.

Jordan, Lebanon, Syria and Egypt this month reached agreement for Egyptian natural gas to be sent to Lebanon via Syria using a pipeline built some 20 years ago in an Arab cooperation project.

Arab states cut ties with Syria during the civil war, which the United Nations says killed at least 350,000 people, and U.S.-allied Arab states including Qatar, Saudi Arabia and the United Arab Emirates backed opposition groups fighting Assad

The United Arab Emirates and Syria restored diplomatic ties in 2018.

The Egyptian and Syrian foreign ministers met on Friday on the sidelines of the U.N. General Assembly in New York, in what Egyptian media said was the first meeting at that level for about a decade.

Assad has recovered most of Syria but large areas remain outside his control. Turkish forces are deployed in much of the north and northwest, the last rebel stronghold, and U.S. forces are stationed in the Kurdish-controlled east and northeast.

Jordan and Syria hope mutual trade will return to its $1 billion pre-war level.

Jordanian officials said a visiting trade delegation from Syria, led by economy, trade, agriculture, water and electricity ministers, would discuss lifting tariff barriers.

Businessmen from Jordan had largely avoided dealing with Syria after the U.S. 2019 Caesar Act imposed tough sanctions that prohibited foreign companies trading with Damascus.

(Additional reporting by Aidan Lewis in Cairo; Writing by Michael Georgy; Editing by Giles Elgood, Angus MacSwan, Nick Macfie, Steve Orlofsky and Timothy Heritage)

Copyright 2021 Thomson Reuters.

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Jordan Fully Reopens Border Crossing With Syria, Seeks Trade Boost

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JABER CROSSING, Jordan (Reuters) -Jordan fully reopened its main border crossing with Syria on Wednesday in a move to boost the countries' struggling economies and reinforce a push by Arab states to reintegrate Syria after shunning it during its civil war.

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trade is a good thing. it benefits our economy and helps us grow

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Trade is helpful, because it expands opportunities and resources. It also allows for more specialization, which helps countries gain more value from their resources. People can also increase value from their money, because they have access to more things that they really want. One interesting aspect of trade is that it can have both positive and negative effect on the environment, and the environment can also affect trade in many ways. Increased trade and economic growth can cause more emissions, but trade can also be used to increase use of environmentally-friendly products, and open markets can encourage development of better technology. Direct consequences from climate change such as increasing temperature and natural disaster can also reduce the resources available to trade.

https://www.oecd.org/trade/topics/trade-and-the-environment/

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I feel as if trade will always be something that we will have to do. According to the website I read, trade increases competition and lowers world prices. Trading helps us be able to produce more goods more efficiently so that we are able to consume more. One country might not be as good as producing something, so they trade with a country who is. Better quality for lower prices drives economic growth and is overall just good.

https://www.economicsonline.co.uk/Global_economics/Why_do_countries_trade.html

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Why do countries trade?

Countries trade with each other when, on their own, they do not have the resources, or capacity to satisfy their own needs and wants. By developing and exploiting their domestic scarce resources, countries can produce a surplus, and trade this for the resources they need.

Clear evidence of trading over long distances dates back at least 9,000 years, though long distance trade probably goes back much further to the domestication of pack animals and the invention of ships. Today, international trade is at the heart of the global economy and is responsible for much of the development and prosperity of the modern industrialised world.

Goods and services are likely to be imported from abroad for several reasons. Imports may be cheaper, or of better quality. They may also be more easily available or simply more appealing than locally produced goods. In many instances, no local alternatives exist, and importing is essential. This is highlighted today in the case of Japan, which has no oil reserves of its own, yet it is the world's fourth largest consumer of oil, and must import all it requires.

The production of goods and services in countries that need to trade is based on two fundamental principles, first analysed by Adam Smith in the late 18 th Century (in The Wealth of Nations, 1776), these being the division of labour and specialisation.

Division of labour

In its strictest sense, a division of labour means breaking down production into small, interconnected tasks, and then allocating these tasks to different workers based on their suitability to undertake the task efficiently. When applied internationally, a division of labour means that countries produce just a small range of goods or services, and may contribute only a small part to finished products sold in global markets. For example, a bar of chocolate is likely to contain many ingredients from numerous countries, with each country contributing, perhaps, just one ingredient to the final product.

Specialisation

Specialisation is the second fundamental principle associated with trade, and results from the division of labour. Given that each worker, or each producer, is given a specialist role, they are likely to become efficient contributors to the overall process of production, and to the finished product. Hence, specialisation can generate further benefits in terms of efficiency and productivity.

Specialisation can be applied to individuals, firms, machinery and technology, and to whole countries. International specialisation is increased when countries use their scarce resources to produce just a small range of products in high volume. Mass production allows a surplus of goods to be produced, which can then be exported. This means that goods and resources must be imported from other countries that have also specialised, and produced surpluses of their own.

When countries specialise they are likely to become more efficient over time. This is partly because a country's producers will become larger and exploit economies of scale. Faced by large global markets, firms may be encouraged to adopt mass production, and apply new technology. This can provide a country with a price and non-price advantage over less specialised countries, making it increasingly competitive and improving its chances of exporting in the future.

International trade brings a number of valuable benefits to a country, including:

1. The exploitation of a country's comparative advantage, which means that trade encourages a country to specialise in producing only those goods and services which it can produce more effectively and efficiently, and at the lowest opportunity cost.

2. Producing a narrow range of goods and services for the domestic and export market means that a country can produce in at higher volumes, which provides further cost benefits in terms of economies of scale.

3. Trade increases competition and lowers world prices, which provides benefits to consumers by raising the purchasing power of their own income, and leads a rise in consumer surplus.

4. Trade also breaks down domestic monopolies, which face competition from more efficient foreign firms.

5. The quality of goods and services is likely to increases as competition encourages innovation, design and the application of new technologies. Trade will also encourage the transfer of technology between countries.

6. Trade is also likely to increase employment, given that employment is closely related to production. Trade means that more will be employed in the export sector and, through the multiplier process, more jobs will be created across the whole economy.

Despite the benefits, trade can also bring some disadvantages, including:

1. Trade can lead to over-specialisation, with workers at risk of losing their jobs should world demand fall or when goods for domestic consumption can be produced more cheaply abroad. Jobs lost through such changes cause severe structural unemployment. The recent credit crunch has exposed the inherent dangers in over-specialisation for the UK, with its reliance on its financial services sector.

2. Certain industries do not get a chance to grow because they face competition from more established foreign firms, such as new infant industries which may find it difficult to establish themselves.

3. Local producers, who may supply a unique product tailored to meet the needs of the domestic market, may suffer because cheaper imports may destroy their market. Over time, the diversity of output in an economy may diminish as local producers leave the market.

Go to comparative advantage

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Why do countries trade?Countries trade with each other when, on their own, they do not have the resources, or capacity to satisfy their own needs and wants.

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Trade is a very resourceful thing. Trade makes a lot of sense because you are giving something up with little value to you and gaining something with lots of value

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Trade is good because if you don't have something you want you can trade to get it. Smaller countries benefit from trading to improve there country. We can also trade with other countries to improve our country. We can expand our country by trading.

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Trade allows our nation to grow and expand beyond our own abilities. We are able to retain our goods if we cannot produce them ourselves. As well as giving to other nations products we can supply. In the article International Trade by Econlib, it states that trade is equally advantageous and that our exports are more important than our imports.
https://www.econlib.org/library/Enc/InternationalTrade.html

Genna Biggerstaff

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On the topic of international trade, the views of economists tend to differ from those of the general public. There are three principal differences. First, many noneconomists believe that it is more advantageous to trade with other members of one's nation or ethnic group than with outsiders. Economists see all forms of trade as equally advantageous. Second, many noneconomists believe that exports are better than imports for the economy. Economists believe that all trade is good for the economy. Third, many noneconomists believe that a country's balance of trade is governed by the "competitiveness" of its wage rates, tariffs, and other factors. Economists believe that the balance of trade is governed by many factors, including the above, but also including differences in national and investment.

The noneconomic views of trade all seem to stem from a common root: the tendency for human beings to emphasize tribal rivalries. For most people, viewing trade as a rivalry is as instinctive as rooting for their national team in Olympic basketball.

To economists, Olympic basketball is not an appropriate analogy for international trade. Instead, we see international trade as analogous to a production technique. Opening up to trade is equivalent to adopting a more efficient technology. International trade enhances efficiency by allocating resources to increase the amount produced for a given level of effort. Classical liberals, such as Richard Cobden, believed that could bring about world peace by substituting commercial relationships among individuals for competitive relationships between states.

History of Trade Theory

developed and published one of the first theories of international trade in 1817. "England," he wrote, may be so circumstanced, that to produce the cloth may require the labour of 100 men for one year; and if she attempted to make the wine, it might require the labour of 120 men for the same time....

The opportunity to trade with the painter enables the surgeon to paint her house by doing a few hours of surgery. Similarly, international trade enables one country to obtain cloth more cheaply by specializing in the production of wine and trading for cloth, rather than producing both goods for itself.

The Ricardo and Heckscher-Ohlin theories tend to predict clear patterns of specialization in trade. A country will focus on one type of industry for exports and another type of industry for imports. In fact, the types of industries in which a country exports and the types in which it imports are not dramatically different. This fact has led to the emphasis on another theory of trade, developed by Paul Krugman and others. The idea is that patterns of specialization develop almost by accident and that these patterns persist because of positive feedback. This is known as the increasing-returns model of international trade. "Increasing returns" means that the more of something you produce, the more efficient you get at producing it.

In the United States, for example, Detroit became an automobile-manufacturing center. Once the first large automaker located in Detroit, it was natural that other auto companies would be started there because it was easier to find employees with the right skills. Likewise, people with the skills to produce movies were first located in Hollywood. It became uneconomical to try to build an auto plant in Hollywood or a movie studio in Detroit. Thus, Detroit became an exporter of automobiles, and Hollywood became an exporter of movies. The same model of efficiency explains the international arena-why, for example, the Swiss specialize in watches and the Japanese in portable music players.

Gains from Trade

All of the economic theories of international trade suggest that it enhances efficiency. In this regard, international trade is like a new technology. It adds to the productive capacity of all countries that engage in trade. Some of the efficiency is due to comparative advantage, as in the Ricardo and Heckscher-Ohlin theories. In addition, some efficiency comes from taking advantage of increasing returns.

Trade based on comparative advantage should tend to benefit small countries more than large countries. That is because the benefits of comparative advantage are proportional to the difference between the relative prices in world markets and the relative prices that would prevail in home markets without trade. If that difference is large, then a country earns a large advantage from trade. If that difference is small, then there is only a small advantage from trade. Small countries are more likely than large countries to find that relative prices in the world market differ significantly from what would prevail in their home markets.

Another benefit from trade is that it promotes dynamism and innovation within an economy. Improvements in manufacturing quality and productivity in the United States in recent decades have been credited, in part, to the pressure of competition from and elsewhere.

An economy that is closed to trade is one in which inefficient industries and laggard firms are well protected. In fact, studies suggest that barriers to trade are a major cause of extreme underdevelopment. The countries that are most closed to trade tend to be the poorest in the world. Countries that have reduced trade barriers and increased the share of imports and exports in their economies tend to be among the fastest-growing nations.

According to a World Bank study, twenty-four developing countries that became more integrated into the world economy in the 1980s and 1990s had higher income growth, longer life expectancy, and better schooling. Per capita income in these countries, home to half the world's population, grew by an average of 5 percent in the 1990s compared with only 2 percent in rich countries. China, India, Hungary, and Mexico are among the countries that adopted policies that allowed their people to take advantage of global markets. As a result, they sharply increased the amount of their GDP accounted for by trade. Real wages in these countries rose and the number of poor people fell.

The study also points out that two billion people-particularly in sub-Saharan Africa, the Middle East, and the former Soviet Union-are in countries being left behind. These countries' integration into the world economy has not increased, and their ratio of trade to GDP has stagnated or fallen. Their economies have generally contracted, poverty has increased, and levels have risen less rapidly than in the more globalized countries.

The OECD countries, which together have more than $25 trillion in GDP, account for most of world trade. Poor countries account for less than $300 billion in GDP, which is less than one-tenth of world output, and thus account for only a miniscule fraction of world trade.

Purchasing Power Parity

If goods were perfectly tradable across borders, with no trade barriers or transactions costs, then there would be no reason for prices to differ. This gives rise to the idea of purchasing power parity, a theory of exchange-rate adjustment based on the law of one price.

If the same good sells for one hundred dollars in the United States and one hundred euros in Europe, then according to the law of one price the exchange rate between dollars and euros ought to be one. The theory of purchasing power parity is that this relationship holds for an overall market basket of goods and services.

Empirical tests tend to show only a weak tendency for exchange rates to move in the direction of purchasing power parity. This means that cross-border trade is not nearly friction free. The failure of purchasing power parity to hold, except perhaps in the long run, indicates that transportation costs, language-translation costs, and other factors limit the integration of global markets.

Capital Flows and the Balance of Trade

Imagine that all international trade took place in the form of barter of goods and services. If you wanted to buy a Japanese car, you would have to offer something of equivalent value in return. In that case, trade in goods and services would have to balance, and there would be no trade deficits.

Typically, one would expect wealthy countries to have excess saving and to invest in capital-poor countries. From this perspective, it is an anomaly that the United States is a capital importer and China is a capital exporter. However, the United States is a relatively attractive country in which to invest, and American policies tend to encourage consumption rather than saving.

Conclusion

Economic theory indicates that international trade raises the standard of living. A comparison between the performance of open and closed economies confirms that the benefits of trade in practice are significant.

About the Author

Arnold Kling is the author of Learning Economics, a nonmathematical introduction to economics. He was an economist at the Federal Reserve and at Freddie Mac before founding Homefair.com in 1994. His personal Web site is http://arnoldkling.com.

Further Reading

For the argument that underdevelopment reflects trade and regulatory barriers, see Stephen L. Parente and Edward C. Prescott. Barriers to Riches. Cambridge: MIT Press, 2000.

Footnotes

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On the topic of international trade, the views of economists tend to differ from those of the general public. There are three principal differences. First, many noneconomists believe that it is more advantageous to trade with other members of one's nation or ethnic group than with outsiders.

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Trade is essential in life by helping people get rid of something they do not use, for something much more valuable. International trade allows our country to exchange or sell resources to other countries. The idea of the supply and demand of the resources help estimate how much someone could get in return. This theme was mentioned in the article, "Australia predicts record farm production despite challenges," by Rod McQuick.

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CANBERRA, Australia (AP) - Australia is forecast to reap record farm revenues this year despite pandemic challenges, a mouse plague and a trade dispute with China.

Australian farmers are expected to sell 73 billion Australian dollars ($54 billion) in produce in the current fiscal year that started in July thanks to favorable weather and grain prices inflated by drought in the United States and Canada, according to a report released on Tuesday by the Agriculture Department's research branch.

That compares with AU$66 billion ($49 billion) earned in 2020-21. That was also a good year for agriculture that followed a prolonged, crippling drought and devastating wildfires across southeast Australia.

The latest forecast is the first time the Australian Bureau of Agricultural and Resource Economics and Sciences has forecast a return exceeding AU$70 billion ($51 billion).

The biggest contribution to growth in agricultural exports would be crops, which are forecast to rise by 17% to AU$30 billion ($22 billion).

A mouse plague across much of the eastern Australian cropping land reduced grain and hay production toward the end of the last fiscal year.

With bumper crops of wheat, barley and canola ready to be harvested soon, there are concerns about how many mice survived the Southern Hemisphere winter and how big the mouse population might grow to this year.

Agriculture Minister David Littleproud said a lack of seasonal workers caused by COVID-19 restrictions was a bigger threat to a successful harvest.

"That's the biggest constraint we're seeing on agriculture as we move forward," Littleproud told Australian Broadcasting Corp., referring to labor shortages.

Australian agriculture relies heavily on international backpackers to provide a seasonal workforce. But Australia has closed its borders to tourists since early last year.

Some Australian states also require farm laborers to go into quarantine if they cross state lines to find work, which worsens labor shortages.

Under a new agricultural visa to be introduced this month, the government expects the number of Pacific islander and East Timorese laborers working in Australian primary industries will double to 24,000 by early next year.

The record financial returns from agriculture are forecast despite disruptions of exports including wine, beef and barley to China due to a souring of relations.

Australia angered China by requesting an independent inquiry into the origins of the coronavirus pandemic.

Wine exports suffered the most due to the loss of the Chinese market after steep tariffs were introduced in late 2020.

Export volumes are expected to rise slightly with increased shipments to Britain, but the unit value will fall 13% in the current year, the report said.

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Australia predicts record farm production despite challenges

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CANBERRA, Australia (AP) - Australia is forecast to reap record farm revenues this year despite pandemic challenges, a mouse plague and a trade dispute with China.

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Trade is a very resourceful thing. Trade makes a lot of sense because you are giving something up with little value to you and gaining something with lots of value to you. It is also beneficial to the person you are trading with since they also lose something they don't need and get something they do need or want. https://www.usnews.com/topics/subjects/international-trade
This article talks about International Trade and mentions that trade has been around for centuries and is still thriving today between almost all countries.

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International trade represents the sale and trade of goods, services and capital across international borders. Such trade of food, clothes, machinery, oil, commodities and currency gives corporations access to customers throughout the world, and it gives customers opportunities to purchase a wider selection of goods and services.

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I feel that trade is essential to keep countries more diverse. I also feel that trade is an easy way to get rid of an old resource and inherit a new one. Trade helps many countries get resources that aren't available to them because of climate or for many other reasons. Trading also helps our economic growth expand. It increases the competition and lowers world prices.

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Trade is beneficial because it increases competition and lowers world prices. Countries trade with each other to get the products or resources they need. Trade is a good thing but it also has disadvantages such as over-specialization, with workers possibly losing their jobs.

https://www.economicsonline.co.uk/Global_economics/Why_do_countries_trade.html

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Trade is a great way to get something that you like and for someone else to get what they like. The Wall Street Journal published an article that explains trading with cryptocurrency in Asian countries. "The price of bitcoin dropped after the Chinese regulator’s notice on banning crypto-related transactions was published Friday. On Monday, bitcoin was trading at $43,490, according to CoinDesk, after recouping some recent losses."

https://www.wsj.com/articles/cryptocurrency-exchanges-curb-trading-from-china-after-beijings-warning-11632739277

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HONG KONG-One of the world's largest cryptocurrency exchanges said it would close all user accounts in mainland China by the end of the year, days after the country's central bank declared all crypto-related transactions illegal.

Huobi Global, which was founded in 2013 and currently operates from offices in Singapore, South Korea, the U.S. and other countries, over the weekend said it stopped allowing new customers in mainland China to register accounts. The exchange will also gradually retire existing accounts in China by the end of 2021 to ensure the safety of its customers' assets, it added.

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Cryptocurrency Exchanges Curb Trading From China After Beijing's Warning

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HONG KONG-One of the world's largest cryptocurrency exchanges said it would close all user accounts in mainland China by the end of the year, days after the country's central bank declared all crypto-related transactions illegal. Huobi Global, which was founded in 2013 and currently operates from offices in Singapore, South Korea, the U.S.

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I think trade is a very good thing because the more trade the more Economic Growth we have. Usually, people or civilizations trade things that they have a lot of for something they don't have or don't have much of. This boosts economic growth and helps civilizations grow.

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trade is the best way to get someone you want and give someone something they need. For example the U.S might trade something they don't really need at the moment for something that would be cheaper for them to get from someone else rather than make it.

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The selling and trade of products, services, and capital across international borders is referred to as international trade. Food, clothing, machinery, oil, commodities, and currency exchange allows firms to reach out to customers all over the world, and people to purchase a greater range of goods and services.
https://www.usnews.com/topics/subjects/international-trade

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International trade represents the sale and trade of goods, services and capital across international borders. Such trade of food, clothes, machinery, oil, commodities and currency gives corporations access to customers throughout the world, and it gives customers opportunities to purchase a wider selection of goods and services.

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I feel like trade is very important to our very way of life because we can trade with other countries and get things that other countries offer as well as goods from other countries with good economic freedom

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I feel that trade is essential to the prosperity of a nation. Trade allows for specialization and greater competition between nations, which leads to lower prices on goods. unctad.org published an article that explores international trade trends for 2021. They reported that international trade made a significant rebound in the first quarter of 2021, following a recession caused largely by COVID-19. They also reported that international trade is expected to continue throughout 2021, but that some nations are still struggling to recover.

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Trade is beneficial to civilizations because it allows individuals to gain a good they value higher than the good they give up. Unfortunately, people can easily become materialistic, and the environment suffers. The rise of "fast fashion" is causing people in America to overbuy clothes, and workers in other countries are being exploited to create cheap clothing. According to CBS news, Americans usually only wear the clothes seven times before discarding them. The material then ends up in a landfill, which harms the ecosystem.

https://www.cbsnews.com/news/ghana-fast-fashion-environmental-disaster/

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Trade is a great way to get rid of something you do not need and exchange for something of use to you. International trade creates competition, which causes products to be cheaper for the consumer. Trade increases the efficiency of everything. A trade deficit is when a country spends more on imports than it earns in exports. This may seem like a bad thing, but it is not. Without trade the world would not be able to advance in anything, we would be stuck with the materials found in our region.

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I feel like trade is necessary for a country and states to flourish. It allows for our country and others to specialize in making certain things and when we make a trade we place more value on those items.

https://ustr.gov/about-us/benefits-trade
This article lists specific examples of when trade has benefited our country but also summarizes how trade expansion can benefit families as well as businesses. The article reinforces the idea that trade is needed for America's prosperity and continued growth.

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trade is essential to creating more wealth in an economy. However trade must be regulated to ensure that the trades being made are fair and completely voluntary for both sides. Without regulation what is going to stop someone from threatening to kill someone else if they do not trade with them. This would be a trade of something valuable for the ability to continue living. This article talks about the pros and cons of free and regulated trade.

http://www.differencebetween.net/miscellaneous/politics/difference-between-free-trade-and-fair-trade/http://www.differencebetween.net/miscellaneous/politics/difference-between-free-trade-and-fair-trade/

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Trade may not be quite as efficient as using currency, but it won't be affected by crisis' such as inflation, or bank failure. Cambridge.com claims that there is and always will be a need for trade.

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U.S. News describes international trade and says it represents the sale and trade of goods, services, and capital across international borders. Trade is necessary for countries to thrive.

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I feel that trade is necessary for a state to flourish. Investopedia says that an increase of international trade would decrease production cost and decrease the cost for the consumer.