Your papers on APPL, BA & F

Watch outs....

A company is an “it” not a “they” “Boeing generates its international

sales in Burundi and East Timor.”

Watch outs....

A company is an “it” not a “they” “Boeing generates its international

sales in Burundi and East Timor.” “$200 billion” not “two hundred

billion dollars” or “200 billion dollars”

Watch outs....

A company is an “it” not a “they” “Boeing generates its international

sales in Burundi and East Timor.” “$200 billion” not “two hundred

billion dollars” or “200 billion dollars” Two adjectives before a noun gets a

hyphen (usually)

Watch outs....

A company is an “it” not a “they” “Boeing generates its international

sales in Burundi and East Timor.” “$200 billion” not “two hundred

billion dollars” or “200 billion dollars” Two adjectives before a noun gets a

hyphen (usually) “Apple’s research-savvy team

generates new products.”

One more watch out

It’s = it is “Its” is possessive “Apple generates its sales via the

internet.” “It’s possible for Apple to continue

growing.”

So why does public not support international trade?

So why does public not support international trade?

Our old friends trade fallacies

So why does public not support international trade?

Our old friends trade fallacies Protectionism in Europe estimated to

cost $215,000 per year per job

So why does public not support international trade?

Our old friends trade fallacies Protectionism in Europe estimated to

cost $215,000 per year per job “the costs are not simply their

salaries, but the even larger costs of producing in less efficient ways, using up scarce resources that would be more productive elsewhere”

Why is “globalization” a naughty word?

Why is “globalization” a naughty word?

Anti-globalization critics see international trade as destroying nations, the environment, small farms, etc.

International trade is just extension of specialization that marks every modern economy

Why is “globalization” a naughty word?

Anti-globalization critics see international trade as destroying nations, the environment, small farms, etc.

International trade is just extension of specialization that marks every modern economy

Why don’t we make our own socks and jeans?

Why is “globalization” a naughty word?

Anti-globalization critics see international trade as destroying nations, the environment, small farms, etc.

International trade is just extension of specialization that marks every modern economy

Why don’t we make our own socks and jeans?

We’re better off buying them from Vietnam and concentrating on software and lattes

Good summary of international trade:

International trade is not a zero-sum contest, but wide array of voluntary transactions between individuals living in different countries who all must gain... another way getting more out of SRTHAU

Trade to GDP ratio

Total of imports & exports as a percent of GDP

Trade to GDP ratio

Total of imports & exports as a percent of GDP

China: 58%

Trade to GDP ratio

Total of imports & exports as a percent of GDP

China: 58% U.S.:27.6%

Trade to GDP ratio

Total of imports & exports as a percent of GDP

China: 58% U.S.:27.6% U.S. is world’s leading importer, #3

exporter and #1 in commercial services

so what do you need to know for next week’s test?

so what do you need to know for next week’s test?

Zero sum thinking

so what do you need to know for next week’s test?

Zero sum thinking Examples of “loaded” language such

as “favorable trade balance,” “globalization,” “record trade deficit”

so what do you need to know for next week’s test?

Zero sum thinking Examples of “loaded” language such

as “favorable trade balance,” “globalization,” “record trade deficit”

How can both sides gain in international trade?

so what do you need to know for next week’s test?

Zero sum thinking Examples of “loaded” language such

as “favorable trade balance,” “globalization,” “record trade deficit”

How can both sides gain in international trade?

The three advantages: absolute, comparative and economies of scale

next week’s test

Know your trade fallacies

next week’s test

Know your trade fallacies Low-wage and high-wage countries

can’t trade

next week’s test

Know your trade fallacies Low-wage and high-wage countries

can’t trade Need restrictions to ‘save jobs’

next week’s test

Know your trade fallacies Low-wage and high-wage countries

can’t trade Need restrictions to ‘save jobs’:

study Hawley-Smoot

next week’s test

Know your trade fallacies Low-wage and high-wage countries

can’t trade Need restrictions to ‘save jobs’:

study Hawley-Smoot Protect infant industries

next week’s test

Know your trade fallacies Low-wage and high-wage countries

can’t trade Need restrictions to ‘save jobs’:

study Hawley-Smoot Protect infant industries Industry needed for national defense

next week’s test

Know your trade fallacies Low-wage and high-wage countries

can’t trade Need restrictions to ‘save jobs’:

study Hawley-Smoot Protect infant industries Industry needed for national defense Stop ‘dumping’ of good into our

country

next week’s test

Types of trade restrictions: tariffs, import quotas, red tape

next week’s test

Types of trade restrictions: tariffs, import quotas, red tape

How does wealth move between nations

next week’s test

Types of trade restrictions: tariffs, import quotas, red tape

How does wealth move between nations

I Design Big Refrigerators in France

next week’s test

Types of trade restrictions: tariffs, import quotas, red tape

How does wealth move between nations

I Design Big Refrigerators in France Investments, Deposits, Bonds,

Remittances, Imperialism, Foreign aid

next week’s test

Types of trade restrictions: tariffs, import quotas, red tape

How does wealth move between nations

I Design Big Refrigerators in France Investments, Deposits, Bonds,

Remittances, Imperialism, Foreign aid

IMG and World Bank

next week’s test

Types of trade restrictions: tariffs, import quotas, red tape

How does wealth move between nations

I Design Big Refrigerators in France Investments, Deposits, Bonds,

Remittances, Imperialism, Foreign aid

IMG and World Bank Emigrants and immigrants

next week’s test

Types of trade restrictions: tariffs, import quotas, red tape

How does wealth move between nations I Design Big Refrigerators in France Investments, Deposits, Bonds,

Remittances, Imperialism, Foreign aid IMG and World Bank Emigrants and immigrantsWSJ story: “We’ve become a nation of

takers”