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Essay about International and Global Trade

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As Ron Wyden states, “Trade wars are not started by countries appealing to respected, independent trade authorities. Rather, trade wars begin when one country decides to violate international trade rules to undercut another country’s industries.” International trade comes from when one country is needy and another country can provide something another country needs. Global Trade, during the recession, fell 20 percent in 2009. In a study conducted after the recession the trade collapse was caused by the representatives of each household that can populate the individual countries. When trading it allows you to specialize in a limited number of goods. When specializing in these goods it can cause a change in any nation’s employment patterns which also affects international trade. The United States is the world largest exporter and the largest importer which affects a lot of different countries when trading.
Despite its work relief elements and large government programs, International Trade in a recessionary market has a big impact on every country because of the exchange rate, balance of payment, balance of trade and trade deficit. We need to trade so we can make more money and pull us out of a recession. Trading becomes more important as the years pass us by because we have exports and imports that have grown at a fast pace. When you export the people at home benefit and when you import things it becomes beneficial for others. So, Global Trade during a recession is good for both parties. It is helping the economy grow and better the economic status of everyone. The exchange rate, as stated in an economics’ textbook, is the value of a foreign nation’s currency in terms of the home nation’s currency. When one country produces a good a...


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...N.p., 13 June 2013. Web. 20 Feb. 2014.
Jackson, James K. "Financing the U.S.Trade Deficit." Www.fas.org. N.p., 23 Dec. 2013. Web. 19 Feb. 2014.
O'Sullivan, Arthur, and Steven M. Sheffrin. Economics: Principles in Action. Needham, MA: Prentice Hall, 2003. Print.
Riley, Geoff. "Recession Cuts the US Trade Deficit in Half." Recession Cuts the US Trade Deficit in Half. N.p., 27 Apr. 2009. Web. 20 Feb. 2014.
Stein, Herbert. "Balance of Trade and Balance of Payments." , College Economics Topics. Webmaster@econlib.org., n.d. Web. 20 Feb. 2014.
Stein, Herbert. "What Is The Balance Of Payments?" Investopedia. Liberty Fund, Inc., n.d. Web. 20 Feb. 2014.
"United States Balance of Trade." TRADING ECONOMICS. Anna@tradingeconomics.com, 6 Feb. 2014. Web. 20 Feb. 2014.
"U.S. Trade in Goods and Services." Http://www.census.gov. Foreign Trade Division, 6 Feb. 2014. Web. 18 Feb. 2014.



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