Written assignment 4

Written assignment 4 - International Trade1 International...

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International Trade1 International Trade Dustin Taylor Thomas Edison State College MAN-372-OL International Management
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Abstract This paper explains what trade is, why nations trade with each other, and how the world trading system affects managers today. The United States and Canada share the world’s most comprehensive trading relationship ("Background note: canada,"). This relationship provides great example and explanations about trade flow between countries. This paper also looks into the role of government in trade, and whether a government should limit imports and exports to try to maintain or obtain a competitive advantage in certain industries.
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International Trade 3 Introduction What is trade? Trade is defined as “to give in exchange for something else” ("Definition of trade,"). We hear about trade all on the time on the television, radio, and internet, but do most people really understand international trade? Some countries, like the United States., import and export hundreds of billions or even trillions of dollars in goods each year. On the other hand, a country like North Korea does very little importing and exporting, relying on their resources to provide self-sufficiency. Why Do Nations Trade? Limited resources In some cases, it is necessary for a country to engage in trade in order to obtain something that is either not available in their country, or is limited to less than the needs of the country. For example, the United States imports more than $60 billion worth of petroleum products (oil) from Canada each year. On the other hand, Canada imports more than $60 billion worth of cars, trucks, and automobile parts and accessories each year from the United States (Workman, 2007). International relations Some nations trade between themselves as a means of fostering good international relations, not just to obtain imports or sell exports. A healthy trade treaty is one of the first signs of positive relations between nations (Chase). Leverage
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This note was uploaded on 08/04/2011 for the course MAN 372 taught by Professor Toops during the Spring '11 term at Edison State College.

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Written assignment 4 - International Trade1 International...

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