Description
Book SynopsisThe tremendous growth of international trade over the past several decades has both affected and been affected by of globalization. The volume of world trade since 1950 has increased twenty-folds-from $320 billion to $6.8 trillion, which exceeds expansion in the rate of production by three times. As a result, consumers around the world now enjoy a broader selection of products than ever before. A host of U.S. government agencies and international institutions has been established to help manage this ever-growing flow of trade. Although increased international trade has spurred tremendous economic growth across the globe-raising incomes, creating jobs, reducing prices, and increasing workers' earning power-trade can also bring about certain kinds of economic, political, and social disruption. Insights for Students into Trade and Globalization examines the fundamental economic principles behind international trade, familiarizes readers with the associated technical terminology, and offers insights into some of the controversies surrounding international trade policy both in the U.S. and abroad. This book is also excellent supplemental material for students in grades 9-14 in world history, culture studies, and economics.
Table of ContentsPart 1 The Economics of International Trade Chapter 2 International Trade in History Chapter 3 Why Do Nations Trade? Chapter 4 Why Do Nations Export? Chapter 5 Currencies and Exchange Rates Chapter 6 Why Do Nations Import? Chapter 7 Trade Specialization Chapter 8 Comparative Advantage versu Absolute Advantage Chapter 9 Trade in Theory and Practice Chapter 10 The Trade Balance Chapter 11 Significance of the U.S. Trade Deficit Part 12 Government Regulation of Trade Chapter 13 Efforts to Manipulate Trade Flow Chapter 14 Import Restrictions Chapter 15 Export Subsidies Chapter 16 Agricultural Subsidies Chapter 17 Consequences of Trade Restrictions Chapter 18 Tariff Debates in U.S. History Part 19 Liberalization: The "Deregulation" of International Trade Chapter 20 The Origin of Recent Trade Liberalization Efforts Chapter 21 Liberalization of International Trade Chapter 22 Multilateral Trade Liberalization: The Uruguay Round and the World Trade Organization Chapter 23 Regional Trade Liberalization Chapter 24 The Changing Composition of Trade Chapter 25 Trade Challenges for the United States Chapter 26 Public Concerns about Trade Chapter 27 Trade and International Labor Standards Chapter 28 Trade and Environmental Standards Part 29 Glossary Part 30 Select Bibliography
