The World Economics
Contents Page
Summary 2
Introduction 2
Section 1 3
Section 2 4
Section 3 5
Section 4 6
Section 5 7
Section 6 8
Section 7 9
Section 8 9
Section 9 10
Section 10 10
Section 11 11
Conclusion 11
References 13
Appendices 14
Summary
In this report, as a member of the government of the nation on the periphery of Europe currently, I will recommend 11 issues related to the free trade, the balance of payment, single currency and etc. And I will give every of them my understanding and analysis to figure out why our nation should choose to join EU and what could we get through joining it as well as the advantages and risks.
Introduction
On the basis of the report, I supposed to do the project in order to give the introduction and commentary of the following contents: free trade, absolute and comparative advantages, trade protectionism and barriers, WTO and EU, the balance of payments and how it affected by exchange rate, general trend in UK over last 30 years, single currency and less developed country. All of these contents will be explained specifically as following.
Section 1: Free trade
Free trade is defined as the trade based on the unrestricted international exchange of goods with tariffs used only as a source of revenue, which means one country can trade with another wherever they are in the world. For example, following the Phoenicians, the Greek and Romans established trade routes goings as far out as Britain in the West, and China in the East. The Greeks spread their culture and ideas through this trade, and the Romans spread their organization and laws. It was a truism back then as it is today, that free trade tends to make the traders quite wealthy, and thus it formed the basis for Athenian, and later Roman power.
There are several main advantages of the free trade. First, increased world-wide out-put: without any trade restrictions between countries, more countries are willing to accept export, which improves the exchange and
Summary 2
Introduction 2
Section 1 3
Section 2 4
Section 3 5
Section 4 6
Section 5 7
Section 6 8
Section 7 9
Section 8 9
Section 9 10
Section 10 10
Section 11 11
Conclusion 11
References 13
Appendices 14
Summary
In this report, as a member of the government of the nation on the periphery of Europe currently, I will recommend 11 issues related to the free trade, the balance of payment, single currency and etc. And I will give every of them my understanding and analysis to figure out why our nation should choose to join EU and what could we get through joining it as well as the advantages and risks.
Introduction
On the basis of the report, I supposed to do the project in order to give the introduction and commentary of the following contents: free trade, absolute and comparative advantages, trade protectionism and barriers, WTO and EU, the balance of payments and how it affected by exchange rate, general trend in UK over last 30 years, single currency and less developed country. All of these contents will be explained specifically as following.
Section 1: Free trade
Free trade is defined as the trade based on the unrestricted international exchange of goods with tariffs used only as a source of revenue, which means one country can trade with another wherever they are in the world. For example, following the Phoenicians, the Greek and Romans established trade routes goings as far out as Britain in the West, and China in the East. The Greeks spread their culture and ideas through this trade, and the Romans spread their organization and laws. It was a truism back then as it is today, that free trade tends to make the traders quite wealthy, and thus it formed the basis for Athenian, and later Roman power.
There are several main advantages of the free trade. First, increased world-wide out-put: without any trade restrictions between countries, more countries are willing to accept export, which improves the exchange and
References: Bergsten, C.F. (2002), paper presented to a roundtable at the annual meeting of the American Economic Association, 5 January, Atlanta, Georgia. Birol, F Clarida, R., Goretti, M. and Taylor, M.P. (2007), G7 Current Account Imbalances Sustainability and Adjustment, Chicago: University of Chicago Press, pp Cosh, A., Hughes, A. and Rowthorn, R.E. (1993),The Future of UK Competitiveness and the Role of Industrial Policy, London: Policy Studies Institute pp. 7-27. Cosh, A.D., Hughes, A Coutts, K.,Glyn, A. and Rowthorn, R. (2007), Cambridge Journal of Economics, Vol.31, No. 6, November. DTI (2007), Meeting the Energy Challenge: A White Paper on Energy, Department of Trade and Industry May Freund, C. and Warnock, F. (2007), Current Account Imbalances Sustainability and Adjustment, Chicago: University of Chicago Press, pp. 169-204. 27 http://baike.baidu.com/view/1594265.htm