International Trade in Services in BIC Countries
International trade in services plays a key role in the economic development of a country. Trade in services has grown at a much faster pace than the trade in good for the past three decades. This paper analyzes International trade in services in context of Brazil, ussia, India and China (BIC countries). The paper discusses in detail how these countries have made drastic changes in the world economy by making substantial trade and output gains in the recent years. It also explains the major role played by BIC countries in EU trade in services.

BIC Countries and Services Trade

Geographical Structure of Services Trade

Sectoral Structure of Services Trade

Services Trade in China and India

Trade Balances and Specialization Indices

BIC Countries and EU trade in Services

India -- The Leading BIC nation in Services Trade with UK

eferences

International Trade in Services in BIC Countries

Introduction

International trade in services plays a pivotal part…...

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References

Cattaneo, O., Engman, M., Saez, S. And Stern, R., M. (2010). International Trade in Services

New Trends and Opportunities for Developing Countries. Washington, DC: The World Bank.

Havlik, P., Stollinger, R., Pindyuk, O., Hunya, G., Dachs, B., Lennon, C., Ribeiro, P., M.,

Ghosh, J., Urban, W., Astrov, V., and Christie, E. (2009). EU and BRICs: Challenges and Opportunities for European Competitiveness and Cooperation. Industrial Policy and Economic Reform, 13, Pp. 2 -- 95, Retrieved November 22, 2012, from  http://ec.europa.eu/enterprise/newsroom/cf/_getdocument.cfm?doc_id=5586

International trade has high importance in the economic growth of the country. Even it is not only in benefit of the country's economy but there are number of benefits for the global organization and the overall world's economy as well. Without international trade, it was never possible to reach the success level at which the world is right now.
An international trade is the major source of revenue for the country and so the high percentage of gross domestic product depends on it. Moreover, international trading has also helped in reducing the poverty all over the world.

The main concept of an International Trade can be identified with theory of David Ricardo, an economist: both parties that are individuals, companies or organizations can benefit in trading if goods produced are with different relative costs i.e. one party get goods or services from the other party who can produce it at lower cost…...

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Bibliography

Bank of England. (2012) Agents' Summary of Business Conditions. Bank of England.

Booth, S., Persson, M., & Scarpetta, V. (2011) Repatriating EU social policy: the best choice for jobs and growth? London: Open Europe.

EconomyWatch Content. (2010, March 15) England Trade, England Exports, England Imports. Retrieved April 20, 2012, from EconomyWatch:  http://www.economywatch.com/world_economy/england/export-import.html 

European Union. (2012) Policy areas of the European Union. Retrieved April 20, 2012, from europa:  http://europa.eu/pol/index_en.htm

International Trade Theories
International trade may be classified as the trade of capital, goods, and services across international boundaries or areas. In many nations, such trade signifies a substantial share of the country's gross domestic product (GDP). While international trade continues to be present throughout a lot of significant research for trade history (see Silk oad, Amber oad), the fact remains that the over societal, economic and political importance for international trade continues to be increasing even further in recent decades (Samuelson, 2001).

Industrialization, modern and intricate transportation structures, globalization, the presence of multinational companies, and outsourcing are getting increased attention and thus having a significant effect on the international trade system. Growing international trade is vital towards the continuation and growth of globalization. Without international trade, nations could be restricted to the products or services created inside their own boundaries (Samuelson, 2001).

International trade is, in its theory and fundamentals, not the…...

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References

Bhagwati J.A.Panagariya and T.N. Srinivasan (2004), "The Muddles Over Outsourcing." Journal of Economic Perspectives, November.

Broadman H.G. (2006), Africa's Silk Road. China and India's New Economic Frontier. The World Bank, Washington DC.

Chang, H. (2008). Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism, Bloomsbury Press.

Deardorff, A.V. (2005). How Robust is Comparative Advantage. Review of International Economics, Volume 13, Issue 5.

International Trade for odamia
International trade is the exchange that takes place between one country and another. It involves movement of goods, capital and services across the borders and contributes immensely to a country's gross domestic product. It is through International trade that countries have been able to consume a variety of commodities and services that are not produced within their territories in exchange for goods and services that are cheaply produced or are in abundant within a country's territory.

Various factors such as globalization and industrialization have had a significant impact on International trade whereby as countries open up their borders for global trade, this has subsequently allowed trade relations between nations as the quest for industrialization continues. The less industrialized nations have partnered with the industrialized nations whereby the much needed raw materials have been sourced from different countries allowing for trade and opening up of more opportunities.

Different countries are…...

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References

Aatisk Palekar, (2012). What are the advantages and disadvantages of foreign trade? Retrieved July 27, 2012 from  http://www.publishyourarticles.net/knowledge-hub/business-studies/what-are-the-advantages-and-disadvantages-of-foreign-trade.html 

Anita Chanda, (2010). Factors affecting Foreign Exchange Value. Retrieved July 27, 2012 from  http://indianblogger.com/factors-affecting-foreign-exchange-rate/ 

Economy Watch, (2010). Benefits of International Trade. Retrieved July 27, 2012 from  http://www.economywatch.com/international-trade/benefit.html 

Liberty Fund, (2007). Comparative Advantage. Retrieved July 27, 2012 from  http://www.econlib.org/library/Topics/Details/comparativeadvantage.html

International Trade
To a point, there is no compelling reason under theories of international trade for IT companies to locate their production in Silicon Valley. Many major Valley firms have long since offshored their production, such Apple, Intel, Cisco and more. There is a strong case, however, under the theories of international trade, for IT firms to locate their intellectual hubs in the Silicon Valley. hen the factors for building a successful global firm are considered, it is the competitive advantage that a firm in the Valley would have with respect to gaining access to talent and to capital that point to the Valley; with production the advantages are far less noticeable except in certain specialized cases.

The Silicon Valley can be said to have developed starting even as soon as the early 50s, when Stanford University saw the building of an industrial park that would house General Electric, Eastman Kodak, Lockheed,…...

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Works Cited:

Alexander, (2006). Solow growth model. Iowa State University. Retrieved November 7, 2011 from http://www2.econ.iastate.edu/classes/econ302/alexander/Spring2006/SOLOW/SOLOWGROWTHMODEL.htm

Gromov, G. (2011). Silicon Valley history. Net Valley.com. Retrieved November 7, 2011 from  http://www.netvalley.com/svhistory.html 

Investopedia. (2011). What is international trade? Investopedia.com. Retrieved November 7, 2011 from  http://www.investopedia.com/articles/03/112503.asp 

Porter, M. (1998). Clusters and the new economics of competition. Harvard Business Review. Nov-Dec 1998.

International Trade and Finance Speech:
Good afternoon ladies and gentlemen, I would like to share with you on the current state of the U.S. macro-economy, highlighting the internal and external factors that affect it. Macroeconomic analysis seeks to forecast economic conditions by monitoring and gauging the behavior of several broad areas including gross domestic product (GDP) - which is simply national output, the rate of unemployment, and the state of currency inflation.

According to the U.S. Department of Energy's Energy Information Administration (EIA), America tops the list of the world's largest oil consumers with a consumption rate of 18.8 million barrels per day (MBD). Concurrently, the U.S. ranks third in the worlds list of top oil producers at 9.1 MBD. The 9.7 MBD shortfall between U.S. oil production and consumption is the main contributor to country's trade deficit (Smith, 2011).

Foreign oil dependence means America's business and consumer trends are vulnerable to world…...

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References:

Morrison, W.M. (2011, September 30). China-U.S. Trade Issues. Retrieved March 10, 2012, from  http://www.fas.org/sgp/crs/row/RL33536.pdf 

Smith, C.H. (2011, February 28). We're no. 1 (and No. 3)! Surprising Facts About the U.S. And Oil. Retrieved March 10, 2012, from  http://www.dailyfinance.com/2011/02/28/surprising-facts-about-us-and-oil/ 

White, D.S. (2010, August 14). Growth of the Knowledge-based Economy: U.S. Service Exports January - June 2010. Retrieved March 10, 2012, from  http://dstevenwhite.com/2010/08/14/growth-of-the-knowledge-based-economy-u-s-service-exports-january-june-2010/

International Trade
The world appears to be shrinking as the global landscape continues to be developed by technology and new ways of communication. It is inevitable that this new intimacy will have, and has had, a significant impact on the economies of all nations. The purpose of this essay is to discuss the impact of globalization and how it can be used for benefit and gain competitive advantage in virtually any industry or market. This essay will discuss the evolution of the global economy before using a real world example to compare and contrast the differing effects that this phenomenon is manifesting in today's fast paced and hectic world that depends on the goods and services that economic markets provide for humanity.

Globalization and The Drivers of Globalization

Mourdoukoutas (2011) explained that the global nature of the market economies contain great benefit when used in a purposeful and practical manner. He wrote" globalization…...

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References

Bera, A. & Inderfurth, K. (2013) U.S.-India economic relations trade potential into reality. The Economic Times, 22 Aug 2013. Retrieved from   trade-potential-us-indiahttp://articles.economictimes.indiatimes.com/2013-08-22/news/41437316_1_ge-india -

Lowell, M. & Thakkar, B. (2012). The Impact of Globalization on Cross-Cultural Communication, Globalization - Education and Management Agendas, Dr. Hector Cuadra-Montiel (Ed.), ISBN: 978-953-51-0702-6, InTech, DOI: 10.5772/45816. Available from:   management-agendas/the-impact-of-globalization-on-cross-cultural-communication.http://www.intechopen.com/books/globalization-education-and -

Mourdoukoutas, P. (2011). The Good, The Bad, And The Ugly Side of Globalization. Forbes, 10 Sep 2011. Retrieved from   ugly-side-of-globalization/http://www.forbes.com/sites/panosmourdoukoutas/2011/09/10/the-good-the-bad-and-the -

Taylor, T. (2013). Global Supply Chains and the Changing Nature of International Trade. Economists View, 5 Sep 2013. Retrieved from   the-changing-nature-of-international-trade.htmlhttp://economistsview.typepad.com/economistsview/2013/09/global-supply-chains-and -

International Trade
Each year, globalization plays a more profound role in regards to the national economies of the world. Globalization has allowed for the expansion of corporations beyond their natural domestic limits. As such it has contributed to an increased standard of living for those who embrace its presence. Free trade therefore, is a welcomed addition within the overarching trend of globalization. Free trade allows for the transfer of goods and services when demanded by specific economies. It also allows the countries best suited for such activities to flourish. For example, China is proficient in manufacturing which allows the country to export far more goods than it imports. Developed nations such as Europe, America, and to a smaller extent, Japan demand these cheaper goods as they import more than they export. This trade allows both parties to subsequently flourish. China can sell its products to generate addition funding to expand its…...

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References:

1) O'Sullivan, Arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. pp. 458. ISBN 0-13-063085-3

2) David E. Sanger and Michael Wines "More Countries Adopt China's Tactics on Currency" The New York Times October 3, 2010, accessed October 4, 2010

International Trade and Open Economy Microeconomics
Why there is free trade between states in the United States but not necessary between countries

Trade between states in the United States is not restricted as this may hurt the entire wider American economy. United States in a way restricts free trade between it and other countries for a number of reasons. To start us off, the United States government uses tools like tariffs and quotas to enhance better allocation of resources. Tariffs and quotas other than helping the government generate revenue and discouraging imports into the United States, help in protecting smaller and more vulnerable companies and industries (Worth Publishers, 2010). Quotas basically limit the amount of specific goods that can be imported into the United States. The most common trade restrictions that are normally used in trade between USA and other countries are tariffs and quotas. Apart from generating revenues, tariffs drive a…...

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References

Reagle, D. & Salvatore, D. (2000). Forecasting Financial Crises in Emerging

Market Economies. Open Economies Review, 247 -- 259.

Salvatore, D. (1996).Theory and Problems of International Economics, 4th ed. New

York: McGraw-Hill.

International Trade
I'll Take Four of Those in Blue

International trade is a fundamental tool in building a healthy economy. This does not mean that nations should open their economic borders in an indiscriminate way, for unfettered trade is not in the interest of any particular nation. ather, there are worse and better combinations of free trade, tariffs, and protectionism for any given national economy at any given moment in time. This trade simulation proposes a set of conditions for international trade that are in the best interest of the nation of odamia, as proposed by the trade representative of the country.

odamia's economy is based primarily on the service industry, with two-thirds of the nation's income from this sector, almost a third from industry, and just four percent from agriculture. This is a problematic profile in that arguably the most important function of any national economy is to provide food for the…...

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References

Buchanan, J.M. (2008). Opportunity cost. The New Palgrave Dictionary of Economics Online. Retrieved from  http://www.dictionaryofeconomics.com/search_results?q=opportunity+cost&edition=current&button_search=GO .

Chang, H.-J. (2008). Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism. London: Bloomsbury Press.

Van den Bossche, P. (2005). The Law and Policy of the World Trade Organization. Cambridge: Cambridge University Press.

International Trade
Because of the increasingly globalized nature of the economy, manufacturers, retailers and service providers have more options to locate sources of supply and labor where overall costs are lower than in their home markets. In industry today, parts and supplies frequently come from many different countries, such as the Boeing 787, with 65% of its components outsources to foreign companies (Hill 2011). Another example is flat-screen TVs, which have their components manufactured in Asia, assembled in Mexico then shipped to distributers in the United States. Vizio has a small office in California with less than 100 employees to handle sales and service, but with all of the design, manufacturing and assembly done overseas. Even though American companies originally developed this technology in the 1960s, they did not continue with it and forfeited this market to Asian countries (Hill 2011). This has happened time and again in American industry, which…...

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REFERENCES

Economist Online (2011). "Is China a Currency Manipulator?," October 11, 2011.

 http://www.economist.com/blogs/dailychart/2011/10/america-and-china 

Hill, C. (2011). International Business: Competing in the Global Marketplace. 8th ed. New York: McGraw Hill'

Lahart, J. (2011). "Tallying the Toll of U.S.-China Trade." Wall Street Journal, September 27, 2011.

The recent change in his designation will put him in greater pressure to display neutrality in such cases as heads WTO.
The role of Brazil in shifting its trade policy from an underdeveloped protectionist Latin American country towards becoming one of the fastest growing emerging economies with trade reforms will also be vital. Azevedo has to ensure that trade violations by Brazil do not go unchecked. Since the paramount responsibility of WTO remains to aid the process of trade liberalization, the role if its leader will be vital. Azevedo's predecessor did not achieve much success in bringing countries to liberalize their trade policies. The 'Doha' round spanning over a period of ten years did not yield much good results as well for the trade liberalization. The other impediments in Azevedo's way are the protectionist policies of Brazilian president ousseff. Higher customs duties and tax incentives were provided by ousseff to…...

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References

BBC News Business. (2013. May). WTO names Roberto Azevedo as new Head. BBC News. Retrieved from:  http://www.bbc.co.uk/news/business-22443597 

Bourcier, N. (2013, May). Roberto Azevedo's WTO Appointment gives Brazil a set at the Top Table. The Guardian. Retrieved from:  http://www.guardian.co.uk/world/2013/may/21/azevedo-head-world-trade-organisation 

Heilprin, J. (2013, May). Brazil's Roberto Azevedo Chosen as Next World Trade Organization Director General. Huffington Post. Retrieved from:  http://www.huffingtonpost.com/2013/05/08/roberto-azevedo-wto-director-_n_3231733.html 

Kleckner, D. (2013, May). Will Azevedo revive WTO. Western Farm Press. Retrieved from:  http://westernfarmpress.com/government/will-azevedo-revive-wto

The trade relationship with China can be analyzed from both perspectives of inter- and intra-industry exchange, and major differences are available. In this order of ideas, China is characterized by low income and a scarcity of natural resources. Ergo, their trading operations are dominated by the theory of the comparative advantage, and the necessity to supply the population with complementary products. As a result then, most of China's trading operations occur at inter-industry levels. The East-Asian country possessed a comparative advantage in terms of food and beverages, crude materials or manufactured goods, but a disadvantage relative to beverages and tobacco or machines and transport equipments. The table below reveals the relative comparative advantages (CA) of the two parties in 1998:

Source: Yao and Liu, 2003, p.186

The intra-industry trade operations of the European Union with other countries registered increases generally due to higher living standards and increasing customer demands. As a result,…...

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References

Forstner, H., Balance, R.H., 1990, Competing in a Global Economy: An Empirical Study on Specialization and Trade in Manufactures, Routledge, ISBN 0044456190

Fosu, a.K., Nsouli, S.M., Varoudakis, a., 2001, Policies to Promote Competitiveness in Manufacturing in Sub-Saharan Africa: Develop Centre Seminars with the IMF and the AERC, OECD Publishing, ISBN 9264187057

Freinkman, L.M., Polyakov, E., Revenco, C., Trade Performance and Regional Integration of the CIS Countries, World Bank Publications, ISBN 0821358960

Grimwade, N., 2000, International Trade: New Patters of Trade, Production and Investment, 2nd Edition, Routledge, ISBN 0415156262

3.2. International policies

As of 2010, Canada is party to a total of 81 international organizations, as follows: "ACCT, ADB (nonregional member), AfDB (nonregional member), APEC, Arctic Council, AF, ASEAN (dialogue partner), Australia Group, BIS, C, CDB, CE (observer), EAPC, EBD, ESA (associate), ESA (cooperating state), FAO, FATF, G-20, G-7, G-8, G-10, IADB, IAEA, IBD, ICAO, ICC, ICCt, ICM, IDA, IEA, IFAD, IFC, IFCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINUSTAH, MONUC, NAFTA, NATO, NEA, NSG, OAS, OECD, OIF, OPCW, OSCE, Paris Club, PCA, PIF (partner), SECI (observer), UN, UNCTAD, UNDOF, UNESCO, UNFICYP, UNHC, UNMIS, UNWA, UNTSO, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO, ZC" (Central Intelligence Agency, 2010).

In terms of trade organizations which have generated the most impact on Canada's lumber policies and activities, the most reputable institutions refer to the World Trade Organization and the North Atlantic Free Trade Agreement.…...

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References:

Dufour, D., The Canadian lumber industry: recent trends, STATISTICS Canada,   last accessed on October 25, 2010http://www.statcan.gc.ca/pub/11-621-m/11-621-m2007055-eng.htm 

Hessing, Howlett, M., Summerville, T., 2005, Canadian natural resources and environmental policy: political economy and public policy, 2nd edition, UBC Press, ISBN 0774811811

Moffatt, M., The softwood lumber dispute, Economics About,   last accessed on October 25, 2010http://economics.about.com/cs/agriculture/a/softwood_lumber.htm 

Percy, M., Yoder, C.G., 1987, The soft lumber dispute and Canada-U.S. trade in natural resources, IRPP, ISBN 0886450578

International trade regulations refer to a set of codified rules and laws that manage, control and regulate all types of trade among different countries of the world. Based on the theory of economic liberalism, these regulations came into existence in the backdrop of World War II. General Agreement on Tariffs and Trade (GATT) was the first multilateral treaty formed to regulate the rapidly rising trend of cross border trade.
The fast economic and industrial growth in Europe and America and expanding world markets created the need for a full-fledged organization to manage international trade. Thus, World Trade Organization (WTO) was established in 1995 under the "Marrakesh Agreement."

The WTO aimed at arbitrating bilateral and multilateral trade agreements, formulating and implementing trade mechanism, promoting free trade around the globe and solving tariff and non-tariff hiccups in international trade.

The world trading system is based on the notion that economic relations form an integral part…...

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References

Crawford, Jo-Ann., & Laird, Sam. (2000). Regional trade agreements and the WTO. University of Nottingham, 00(3).

Gathii, J.T. (2011). African Regional Trade Agreements as Legal Regimes. New York, NY: Cambridge University Press.

Jackson, J.H. (1997). The world trading system: Law and policy of international economic relations. United States of America, USA: MIT Press.

Yerxa, Rufus., & Wilson, Bruce. (2005). Key issues in WTO dispute settlement: The first ten years. New York, NY: Cambridge University Press.

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