Protectionism and Free Trade

Protectionism and Free Trade 6) Prevent dumping Dumping is exporting a product at a price which is either below the price it charges in its home market or is below its costs of production (Wikipedia). Dumping is usually not easy to spot and therefore it is hard to prevent. However many countries, in order to intimidate foreign industries in selling products below the domestic price level, set very high fines consisting in paying the difference on each unit sold between the fair price and the price which the good was sold (working like a tariff). A company would never go against its business (usually). In dumping cases the companies sell below cost because they have a comparative advantage in producing the good, for example: government could subsidize the good or the good could be produced at lower production costs. In fact this is the reason why they are advantaged and can control the market price, making the other companies adjust to the new price and increase competition. Dumping is however condemned, not prohibited. As long as a domestic industry is not materially injured or not threatened with material injury (ia.ita.doc.gov), a foreign company is not guilty of dumping. Dumping is a threat for a country's economy. However this is only one negative aspect of free trade and is a very uncommon one due to the very strict restrictions. Even if a government feels

  • Word count: 1137
  • Level: International Baccalaureate
  • Subject: Economics
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Austraila's Trade and Treaties

'International trade creates links between countries through the export and import of goods and services. Australia has a complex pattern of trade links that has changed over time as our export base has broadened and diversified. Australia's major items of trade Australia's trade involves the exporting and importing of both goods and services. Traditionally, primary products, including agricultural goods (such as wheat, wool and beef) and minerals (such as iron ore, gold and aluminium), have accounted for a significant proportion of Australia's exports. Exports of these commodities remain an important component of Australia's trade. Australia's exports of manufactured goods have been slower to develop. As a nation we tended to rely on primary industry exports to finance the purchase of manufactured goods from oversees. This trend in Australia's trade is now starting to change. Manufactured products, especially sophisticated elaborated transformed manufactures, or ETMs (such as scientific instruments, electronic equipment and motor vehicles), now account for a growing share of Australia's exports. Australia's service exports, including tourism and education, have also experienced rapid growth over the past decade. These exports now account for more than 20per/cent of the total annual value of goods and services produced in Australia (that is, GDP), up from 17per/cent in

  • Word count: 590
  • Level: GCSE
  • Subject: Geography
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Free trade and protectionism

Free trade and Protectionism Nowadays, globalisation has made the world such a smaller place. International trade between countries becomes more and more frequent. Therefore governments would likely to decide an act of opening up economies which is known as "free trade". Free trade allows traders to transact without interference from government. Thus, goods and services from everywhere can compete with domestic products and services. It works by bringing down trade barriers such as tariffs. Under this policy, the prices are the sole determinant of resource allocation, and they are a reflection of true supply and demand. However, in order to protect domestic industries and reduce the trade deficits, some governments make policy to keep out foreign goods, which is called "protectionism". Contrast with free trade, protectionism is a policy where the allocation of goods and services between the trading countries are determined by artificial prices that adjusted by governments and do not reflect the true nature of supply and demand. Use of tariff Tariff is the most wide used trade barrier for protectionism. It is a tax usually imposed on imports. As prices of imports increase after being taxed, they might be more expensive than domestic goods, and therefore stop people buying them. In that way, ailing domestic industries will have a chance to recover and prosper, the

  • Word count: 1694
  • Level: AS and A Level
  • Subject: Economics
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Does foreign aid do more harm than good ?

Does foreign aid do more harm than good ? The dictionary definition of the term 'foreign aid' is: "The administered transfer of resources from the advanced countries for the purpose of encouraging economic growth in developing countries." [Bannock:1988 P.164] However, so as not to confuse foreign aid with the investments of multinational corporations or commercial banks, many economists require foreign aid to meet two distinct criteria: 1) Its objective must be noncommercial from the point of view of the donor and 2) it should be characterized by concessional terms. There are many ways and means of transferring resources to LDC's (Less Developed Countries): Multilaterally, as with the many international agencies such as the World Bank or various departments of the United Nations. Bilaterally, which is an agreement between two countries for a specific amount or item of aid. Direct food aid, or, the granting of preferential tariffs by developed countries to Third World exports of manufactured goods. However, the evaluation of the effects and purposes of foreign aid has become a subjective and value-laden minefield, with many commentators simply picking out the facts which suit their particular ideological perspective. In this essay we will assess how the different forms of foreign aid affect LDC's, examine the opposing theories of dependency and modernization in relation to

  • Word count: 3471
  • Level: University Degree
  • Subject: Social studies
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Trade and E-Commerce.

International Trade Law 730-634 Research Paper Student: Joseph Buccheri Assessment Value: 50% Topic: Trade and E-Commerce - This paper reviews some of the trade related problems of e-commerce, specifically focusing on the debate arising out of the use of export controls on the distribution of encryption technology and the competing policy interests of national security and the promotion of GATT objectives. I. INTRODUCTION The rapid development of electronic commerce (e-commerce) and its real impact on world trade has brought a range of legal and political problems to the fore, both at the domestic and the international levels. This paper seeks to highlight some of the main trade related problems associated with the growth of e-commerce. However, the examination of all aspects of e-commerce as it pertains to international trade is beyond the scope of this paper. Thus, this paper examines the current issues raised by e-commerce in the context of the General Agreement on Trade and Tariffs (GATT) and World Trade Organisation (WTO) and the current international practice in the regulation of the distribution of encryption technology and the tension between the competing objectives of the GATT and the protection of national security. The paper analyses how such tensions may be resolved through the WTO or externally and how best to achieve harmony in State practice in the

  • Word count: 5022
  • Level: University Degree
  • Subject: Business and Administrative studies
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First Aid C.P.R.

First Aid The definition of first aid is "the immediate care of the injured or ill". This could be a stranger, a family member or even yourself. To administer first aide one must know what to do and also just as important one must know what not to do. The whole object of first aide is to aide the injured or ill with out ever doing harm. The first and most important thing in first aide is to always prevent harm to yourself. "First Aid" is like being the first responder. First Aid is the initial care that's given to the victim before medically trained personnel arrive, or before the victim arrives at a health care center. C.P.R Cardiopulmonary Resuscitation (CPR) consists of mouth-to-mouth respiration and chest compression. CPR allows oxygenated blood to circulate to vital organs such as the brain and heart. CPR can keep a person alive until more advanced procedures (such as defibrillation - an electric shock to the chest) can treat the cardiac arrest. CPR started by a bystander doubles the likelihood of survival for victims of cardiac arrest. When to Stop CPR . if another trained person takes over CPR for you 2. if more advanced medical personnel take over 3. if you are exhausted and unable to continue 4. if the scene becomes unsafe 5. if the victim's heart starts beating The C.P.R. Process CPR-Adult Victim If, during the primary survey, you determine that

  • Word count: 1278
  • Level: AS and A Level
  • Subject: Healthcare
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Christian aid - mission

God provides enough for all but our greed means others don't get what's provided for them. "Here at Christian aid we believe in empowering people to reform the systems that are keeping them poor. We strive for a world free of poverty and we promote health and education programmes among the poor. We are driven by faith and inspired by the Bible." Jesus gave many teachings on the poor in the bible here are some examples: - 'Do not lay up for yourself treasures on earth where moth an rust can consume it and where thieves break in and steal. For you heart will be where your treasure is'. God values spiritual qualities more than worldly qualities such as money and possessions. When you die you cannot take money and possessions with you. By doing good things on earth such as helping charities and loving God, by expressing that love through helping others, you will have the greatest reward of all, which is being with god in heaven. In the parable of the Good Samaritan, a man was attacked and left for dead. The person least likely to help him, the Samaritan, did all he could to help him. God wants us to be like the Good Samaritan by doing all we can to help those less fortunate than ourselves. You cannot serve both god and worldly riches. People's lives should have priority over the latest gadget or fashion accessory. Every year in the U.K we waste millions of pounds on things we

  • Word count: 726
  • Level: GCSE
  • Subject: Religious Studies (Philosophy & Ethics)
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Financial aid in colleges

ID # 29 Question 2 A706 Final Exam Why do colleges offer financial aid? Colleges offer financial aid out of a desire to recognize and reward highly meritorious students and thereby encourage them to invest more in their education. Comparatively, financial aid is offered out of a desire to extend the benefits of higher education more widely by helping young people in financial need to attain more education. Colleges offer financial aid to allow access to qualified students who possess significant financial need that may deter them from enrolling in the institution or attending college at all. These qualified students in turn enhance the colleges image and bolsters its academic reputation. McPherson (1998) notes that schools of lesser reputation or quality attempt to "buy" students from more prestigious schools through offers of merit aid. McPherson, further notes competition amongst schools of roughly equal quality or reputation for the most meritorious students in the school's combined applicant pool. Such agreements are plainly desirable for the schools involved, but are they socially desirable in terms of equity? The main social effect of this merit competition among a group of peer institutions of similar quality is a redistribution or resources between the schools and students (or their families). Considering the impact on family incomes, merit award winners

  • Word count: 1007
  • Level: University Degree
  • Subject: Education and Teaching
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Aid to foreign countries

Advantages and Disadvantages of Aid to an LEDC Many countries are given aid, with this aid comes the question if it is good or bad since there are both advantages but also disadvantages. What type of aid is best long term aid or short term aid, and what are the pro's and con's of these. Giving money to an organization does not mean that all the money you give will be used to help these people. When aid is sent to a country it often happens that everything has to go thru government officials, this means that when we for instance ship food some might be kept, and therefore the people who it is meant for will not get everything that was meant for them. Emergency Aid is a whole different thing than the aid that is given on normal basses. Emergency Aid is a rapid assistance given to people that are in immediate distress it is given to relief these people from suffering. It is only for a short period of time to help them back up. These people just need short term aid so that they can get everything together, they don't have to be taught how to do things. Agricultural aid can help increase the food quantity and quality, this most likely means that more people will be able to supply themselves with food. However not everything is what it seems these projects are sometimes run by foreign companies and mostly on bigger scales and therefore the smaller farmers will usually not

  • Word count: 479
  • Level: International Baccalaureate
  • Subject: Geography
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the work of christian aid

PART Aiii - CHRISTIAN AID Christian Aid is a leading development agency of the UK and Irish churches. It works in some of the world's poorest countries, with people of all faiths and none, wherever the need is greatest. Christian Aid's aim is to help people to improve their own lives and to tackle the causes of poverty and injustice. Christian Aid channels funds through local community groups and church organisations. These organisations - our partners - use the money to help people directly. Money does go to emergencies when possible, but much more is devoted to long-term development. To achieve these aims Christian aid's work is split into 4 main parts these are: Education 5% of Christian aids income is spent on educating people in LEDC's and churches in the uk and Ireland about why the world needs to develop and how they can help LEDC's. It publishes a newspaper this gives information about what Christian aid is doing and world development what the world spends on weapons in two weeks for example could give everyone in the world enough food, water, education and shelter for a year. LONG-TERM AID Christian aid has an advantage over many charities because it is in contact with organisations who are going to make use of the money so they can share it out equally and give feedback about how the money has been put to good use much of Christian aid emergency and long-term

  • Word count: 576
  • Level: AS and A Level
  • Subject: Religious Studies & Philosophy
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