trends in international trade (volume) Flashcards
what has removed a lot of trade barriers?
the emergence of free trade market ideas
what is regional trade agreements?
reciprocal trade agreements between two or more countries
what has happened to trade from 1980 to 2008?
the value of it has increased nearly eight times
what percentage of trade do USA germany and japan account for alone?
25%
what percentage of trade do g7 countries account for?
around 50%
what is the major pattern of world trade?
developed countries remain the biggest traders
but emerging countries are slowly catching up
what is an example of an emerging country changing trade patterns and how?
china is now the biggest exporter of goods in the world
BRIC
due to rapid growth in the manufacturing sector
in 2013 how much was value of trade of goods?
18.8 trillion dollars
by 2020 how much will the value of goods be worth?
35 trillian dollars
what percentage of the poorest 49 countries in the world make up for trade?
just 0.04%
showing that there is a pattern
what is foreign direct investment?
when a person, company or other group spends money in another country in order to generate a profit
what is FDI an important source for?
development in all countries especially less developed
how much in FDI flows around the world a year?
one trillion dollars
why do some countries attract more FDI than others?
due to the existence of natural resources
or just due to the size of their markets in terms of population
also financial business services
why is the US one of the biggest recipients of FDI?
it has a very large population meaning that the market is large and accessible through FDI
