StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

International Production and Trade - Essay Example

Cite this document
Summary
Chapter 6 is focused upon several key trends and changes with regards to the way in which the global political economy has shifted since the Second World War. As a function of understanding these dynamics and highlighting the main points and key levels of understanding that the chapter itself presents, the following analysis will seek to engage the reader with a discussion of the ways in which the international political economy has grown and is currently defined…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER96.4% of users find it useful
International Production and Trade
Read Text Preview

Extract of sample "International Production and Trade"

Download file to see previous pages

As a result of this shift, the United States and much of Western Europe aligned itself with a free market capitalist system whereas the Soviet Union and many parts of the remainder of the world aligned themselves with socialist communism. As a result of this bipolar powershift, the capitalist nations throughout the world realize that one of the only ways to ensure that wealth generation and sustained growth could proliferate was by engaging in a system of capitalism that prized reductions in trade barriers and liberalize nations in trade.

The authors further specify the fact that this desire to reduce trade barriers and liberalize trade was ultimately the impetus which helps to give rise to such global entities as GATT, WTO, and the World Bank. Yet rather than each and every nation throughout the world integrating their economies and seeking to provide goods and services with little to no trade barriers, a somewhat different dynamic has been realized. As such, the difference between theory and practice is denoted by the authors with respect to the way in which different trade blocs and trade alliances have developed between the regions and entities throughout the globe.

As such, whereas the world might have been previously defined based upon religion and/or ideology, nationality, ethnicity, or any other litany of different qualifiers, the modern world has largely been defined with regards to which nations agreed to a level of unimpeded trade. What this has ultimately affected is a situation through which the world has come to be redefined based upon trade and not based upon many of the other qualifications that had previously constrained and defined the way in which nations have interacted historically.

After the collapse of the Soviet Union, this particular trend has only been increasing as more and more nations throughout the globe seek to develop their own trade blocs and alliances in something of a macro form of protectionism. Evidence of this can of course be seen with regards to the way in which the EU, NAFTA, and ASEAN treaties now exists which helped to promote trans regional trade and block the advances of true international liberalism that might otherwise helped to differentiate and grow these respective economies.

As a result of this particular approach, the authors discuss the way in which this dynamic shift has encouraged specialization with regards to different industries and regions/economies. Moreover, as well has been generated and regions of the world have come to supply the raw material for finished goods and services in other parts of the world, the authors note the fact that many individuals view this as something of a neo-mercantilist system. Although this is not quite the case, the comparisons are nonetheless existence and should not be dismissed out of hand.

As the more wealthy nations, represented by powerful trade alliances and blocs are able to outsource their unskilled labor and raw material extraction to poorer nations, the benefits of these inputs are realized on both entities. Whereas the neo-mercantilist would point to the fact that these nations are being taken advantage

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“International Production and Trade Essay Example | Topics and Well Written Essays - 750 words - 1”, n.d.)
International Production and Trade Essay Example | Topics and Well Written Essays - 750 words - 1. Retrieved from https://studentshare.org/history/1490905-international-production-and-trade
(International Production and Trade Essay Example | Topics and Well Written Essays - 750 Words - 1)
International Production and Trade Essay Example | Topics and Well Written Essays - 750 Words - 1. https://studentshare.org/history/1490905-international-production-and-trade.
“International Production and Trade Essay Example | Topics and Well Written Essays - 750 Words - 1”, n.d. https://studentshare.org/history/1490905-international-production-and-trade.
  • Cited: 0 times

CHECK THESE SAMPLES OF International Production and Trade

Data Protection Act and Conducting International Trade

In the paper “Data Protection Act and Conducting International trade,” the author discusses the PIPED Act, where an individual's consent or permission is necessary for any disclosure of data to a third party.... All Canadian organizations are subject to the PIPED Act....
5 Pages (1250 words) Assignment

International Trade and Trade Barriers

The author states that international trade has many potential benefits for participating countries, yet governments regularly impose barriers to trade.... The author discusses the benefits of international trade and the reasons why restrictions are imposed.... nbsp;… The awakens protectionism causing the re-erection of trade barriers in various forms.... Thus, international trade in the context of globalization contradicts the progressive basis of trading....
8 Pages (2000 words) Term Paper

International Trade and Poverty Reduction in Africa-An Evaluation

The review in the paper "International trade and Poverty Reduction in Africa-An Evaluation" shows that the effects of trade liberalization on poverty in Africa cannot be generalized.... hellip; r hand, it is argued that trade liberalization can lead a country into less productive and dynamic sectors which can adversely affect growth and hence increase the poverty(Rodriguez and Rodrick,2001).... However, theoretically it remains unsettled and remains an empirical Ng and Yeats (1996) showed that Sub Saharan Africa showed very poor performance in terms of global exports and the share of exports in world trade had been falling here since the 1950s....
5 Pages (1250 words) Term Paper

International Trade, Economic Growth and Poverty Reduction

The current research focuses on the following research question: does international trade fuel growth and reduce poverty for USA?... The proposal presents a detailed research plan and methodology,… The importance of international trade with respect to economic growth has been highlighted from the introduction of trade liberalization policies.... nbsp;   Like every theory, the connection between trade and economic growth and between trade and poverty might be empirically verified....
9 Pages (2250 words) Research Proposal

Governance and Upgrading Global Value Chains

Global value chains (GVC) typically highlight how novel and new patterns of international trade, production, and employment shape the prospects for development and competitiveness.... Governance of various firms and entailed companies need a rigorous system to check and counter check the emanating issues in the conventional production era thus avoiding the eminent failure of the system (Gary & Karina, 72)....
4 Pages (1000 words) Essay

International Transport Systems in Facilitating International Trade

This essay discusses the role of international transport systems in facilitating international trade.... hellip; Though global trade existed since times immemorial, it came to play an important role in the economy of nations about 600 years ago.... The discovery of America by Christopher Columbus and the sea-route to India by Vasco Da Gama, and Ferdinand Magellan's around the world expedition gave an important fillip to the international trade....
10 Pages (2500 words) Assignment

China and US Trade

This article "China and US trade" discusses neomercantilism, a policy that promotes continuance and growth of exporting behaviours, generally discourages importation, and where a centralised government controls economic capital.... Both Russia and the United States maintain a strong presence in the international community and military might that supports this authority.... his article is an example of the structuralist theory which asserts that social constructs, global economic structures and institutional behaviours drive the foundation of international affairs....
7 Pages (1750 words) Article

Globalization and Education

As discussed in the essay, in significant ways, globalization is responsible for Improvement of the International trade.... Globalization is a term used to refer to the economic order of the universe through the minimization of the international trade barriers which include import quotas, tariffs as well as trade tariffs (Scholte, 2000).... The term designates the progression by which cultures, regional economies as well as societies have been integrated through transportation, trade, and communication (Cornia and Court, 2001)....
12 Pages (3000 words) Literature review
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us