HND世界经济 原创.docx
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HND世界经济 原创.docx
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HND世界经济原创
UnitTitle:
Economics2:
TheWorldEconomy
CandidateName:
StudentID:
Tutor:
LuWei
TitleoftheProject:
ReportforEconomics2:
TheWorldEconomy
WordCount:
2746
DateofSubmission:
8January2010
TableofContents
Introduction4
Procedure4
AnalysisonElement14
AnalysisonElement25
AnalysisonElement35
AnalysisonElement47
AnalysisonElement57
AnalysisonElement68
AnalysisonElement79
AnalysisonElement89
AnalysisonElement911
AnalysisonElement1012
AnalysisonElement1113
AnalysisonElement1213
AnalysisonElement1314
AnalysisonElement1415
AnalysisonElement1516
Summary17
Reference17
Introduction
Thisreportisaboutitthatisprovidingananalysisofthecurrentexternalenvironmentordertodevelopamarkingplanforthelaunchofaproductinthefurore.Thereportisgoingtoexplaintheconceptoftheworldeconomicswithrealexamples.Forexamples,freetrade,absoluteandcomparativeandprotectionismandexchangerateandsoon.
Procedure
Readthisbook TheWorldEconomy>,searchthosewebsiteandthenewspaper. AnalysisonElement1 Everycountry,everycompanywantstomakemoregains.Sotradinginternationalgivesthemagooddevelopment.Thegainsoftradinginternationalincludethat: Firstly,overallincreaseinstandardofliving.Bytradinginternational,significantlyimprovetheeconomyofeachcountry,People'swageincrease.Secondly,increaseworld-wideoutput.Theoutputcanscountrywithothercountriesstrongly.Itcanmakeeverycountry’sgoodtoanyothercountry.Thirdly,goodandservicesproducedatlowercost.Companyfindthebestplacestoprocessing,toreducelabourcosts.Themoredevelopedininternationaltrade,thefasterthecountry'seconomicdevelopment. AnalysisonElement2 Freetradeisasystemoftradepolicythatallowstraderstoactandtransactwithoutinterferencefromgovernment.Accordingtothelawofcomparativeadvantagethepolicypermitstradingpartnersmutualgainsfromtradeofgoodsandservices. TheUnitedKingdom(UK)hastoimportwheatanddiscoversitcanpurchasewhatitneedsfromCanada.ButCanadadoesnotwanttoimportanythingfromtheUnitedKingdom.TheUKwillhavetofindthemoneytopayforCanada’swheat.ThentheUKdiscoversthatNigeriahasreservesofoilwhichitcannotdevelopbecauseitdoesnothavetheequipmenttodoso.TheUKofferstoselltheoilresourceandexportittoearnmoney.TheUKdoesnotwanttheoilbutNigeriaisabletoselltheoiltotheWestIndies.TheWestIndiesisabletopayforthisoilbecauseCanadaisoneofthelargestproducersofaluminumforwhichbauxiteistheessentialoreandtheWestIndieshasverylargereservesofbauxite. AnalysisonElement3 Absoluteadvantageissaidtooccurwhenonecountrycanproduceagoodorservicetoapre-determinedqualitymorecheaplythananothercountry.Howeverevenwhenonecountryhasmangeabsoluteadvantageitisstilllikelytotradewithothercountriesbecause,thankstoOpportunityCosttheseothercountrieswillhavewhatisknownascompaniesadvantage. Forexample,theUKmaybeabletoproducecarsmorecheaplythansayIndonesia.ButIndonesiacanproduceexcellentcoffeefarmoreefficientlythantheUK.Eachcountryissaidtohaveanabsoluteadvantageinproducingthesesinglecommodities.IfIndonesiawantscarsandtheUKwantscoffeeitisobviouslytotheirmutualadvantagetotrade. ComparativeAdvantageisformulatedonthebasisthat,despitehavingabsoluteadvantageoverothercountriesinproductionofgoodsandservicesitwillbebeneficialforUKtospecializeinthegoodorserviceitisbestatproducingandtradewithothercountrieswhichhaveacomparativeadvantageinsomeoftherangeofgoodsandservicesthecountrieswishtotradein.Thisoccursbecausetheopportunitycostsofswitchingresourceswillbehigherinthecountrywithabsolutelyadvantagethanitwillbeinthecountrieswithcomparativeadvantage. TheUKisanexcellentexampleofhowcountriescanchangeintheirspecialization.Longnotedforitsexpertiseinmanufacturingithasnowbecomemuchmorecompetitiveinwhatareknownasthe‘Knowledgeindustries’.Thesearecomputersoftware,businessservicesandpharmaceuticals.Theseindustriesareseentobringthepossibilityoflongtermgrowth,whiletheindustriesbasedonheavycapitalinvestmentorrequiringrelativelycheaplaborwillnotbecompetitivewithdevelopingcountries. AnalysisonElement4 Protectionismreferstothepolicyofimposingdutiesorquotasonimportsinordertoprotecthomeindustriesfromoverseascompetition. ForeigndiscriminationofUSproductsisreinforcedbytheUStaxsystem,whichimposesnoappreciabletaxburdenonforeigngoodsandservicessoldintheUSbutimposesaheavytaxburdenonUSproducersofgoodsandservicesregardlessofwhethertheyaresoldwithintheUSorexportedtoothercountries. India'sMinistryofFinanceannouncedthatoriginatedinChinawillbesynchronousdigitaltransmissionequipmenttoimposeprovisionalanti-dumpingduty,themaximumimportpricesforproductsof236%inthelastweek,inordertoprotectinterestofhomeindustries. AnalysisonElement5 ThereareTariffsandNon-TariffsBarrierstointernationaltrade.TariffsmeanstheGovernmentusestaxesorcustomsdutiestoplaceonforeigngoodstoraisetheirprices.Non-TariffsBarriersreferstotheGovernmentonlyphysicaltolimitthequantityofimports,whichmeanifyoupaytheGovernmentafeetheywilllicenseyoutoimportthisquantityofyourgoodsforthisyear. Forexample,theUnitedKingdomatonestagehadaspecialtaxwhichwasleviedonimportedcars.ThepurposewastotryandprotecttheUKautomobileindustryfromforeigncompetition. AccordingtoArgentinemediareportedthat‘duetotheinternationalfinancialcrisishascreatedasubstantialdeclineinArgentina'sexportsandcapitalexodus,theArgentineGovernmenttostrengthentherestrictionsontheimportofproducts,someofproductrequirementstoachieveequivalentofimportsandexportsonDecember22’Italsotoprotectitsindustries. AnalysisonElement6 TheWorldTradeOrganization(WTO)dealswiththerulesoftradebetweennationsataglobalornear-globallevel.Essentially,theWTOisaplacewheremembergovernmentsgo,totrytosortoutthetradeproblemstheyfacewitheachother. TheGovernmentofChinarequirestheWorldTradeOrganizationtosetupagroupofexpertstoinvestigatetheUnitedStatestotakeChina'stireexportstotheUSAspecialsafeguardmeasuresonDecember22.WTOtoplayaninvestigatorandjudgeroleinthemiddleofthedispute. AnalysisonElement7 EuropeanUnion(EU)issimilartoCommonMarketsbutalsorequirememberstatestoadoptcommoneconomicpoliciesonareassuchasagriculture,transportandtaxation.Itestablishedin1958.TheinstitutionofEUcouldincludeCommissionwhichimplementsandadministersUnion’spolicesandhasconsiderableexecutivepowers,CouncilofMinisterswhichtakepolicydecisions,CourtofJusticewhichsettlesanydisputesaboutinterpretationoftreatiesandEuropeanParliamentwhichhaspowertovetotheEUbudget,EU's"OfficialGazette"publishedintheEuropeanCommission2009/603/ECresolutiontodevelopbatteriesandbatterymanufacturer'sregistrationrequirementsonAugust8,2009,inordertogiveacommonstandardofthemembercountries,itconveniencestothemembercountriestodothebusiness. AnalysisonElement8 BalanceofPaymentsmayrecordofallfinancialtransactionsbetweenacountryandtheinternationaleconomy.ItincludesCurrentAccount,CapitalAccount,FinancialAccountandInternationalInvestmentPosition.CurrentAccountincludesTradeinGoods,TradeinServices,IncomeandCurrentTransfers.TradeinGoodscoverstheexportsandimportsofgoods.Tradeinservicesresultofexportingservicesagainsttheimportofservices.Incomeincludesportfolioinvestmentincomeanddirectinvestmentincome.ThetradeingoodsbalanceisthedifferencebetweenthevaluesofGoodsexportedandthevalueofgoodsimported.Hence,in2007a£220.9billioncredittotheCurrentAccountresultedfromgoods exportsanda£310.6billiondebitfromimportsgivinganoverall deficitof£89.8billion.Thetradeinservicesisrecordedinthesameway,withcreditstotheCurrentAccountreflectingservicesexportsanddebitsservicesimports.In2007theUKrananoverallsurplusof£44.8billiononthebalanceoftradeinservices.Anoftencitedmeasureisthetradebalancewhichistheoverallbalanceinthetradeingoodsandservices.In2007thiswouldhavebeennegativetothetuneof£45.0billion,asthedeficitingoodstradesoutweighsthesurplusinservicestrade.ThetradebalancethoughisnottobeconfusedwiththeoverallCurrentAccountwhichconsistsoftwofurther,butlesswell-knownitems.Netincomeflowsreflectinternationalpaymentsassociatedwiththeownershipofthefactorsofproduction(land,laborandcapital). Twotypesofincometransactionsaredistinguished;compensationofemployeeswhichispaidtonon-residentworkersinvolvedinthe Table: UKCurrentAccountin2007£billions Credit Debit Balance Goodstrade 220.9 310.6 –89.8 Servicestrade 150.6 105.8 44.8 Netincomeflows 291.3 270.5 20.8 CurrenttransfersCurrentAccount(total) 14.0 27.6 –13.5 Source: ONSBalanceofPayments. AnalysisonElement9 UKhastraditionally
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