Exam 3: Global Trade (Philip Seng)

Question 1

What is trade?

Answer 1

Involves the transfer of goods and services from one entity to another often in exchange for barter or currency

Question 2

What is globalization?

Answer 2

The process of interaction and integration among people, companies and governments worldwide.

Globalization promotes increased interactions between regions and people around the globe

Question 3

What are the different eras of Global Trade?

Answer 3

Equestrian (3000 BC)
* Via camel, horse

Classical (1000 BC - 1500 AD)
* Large empires
* Silk Road
* Han
* Tang

Ocean (1500 - 1800)
* Empires expanded
* Exploration
* Exploitation

Industrial

Post industrial (2000)
* Digital Service

Question 4

What were the negatives of globalization in the 16th -18th century?

Answer 4

• Pathogens
• Diseases
• Viruses

Question 5

When did the U.S conclude its first FTA (free trade agreement)?

What were the exclusions?

Answer 5

Siam (Thialand) 1833

Weapons and Rice

Question 6

What does TPP stand for?

Answer 6

Trans Pacific Partnership

Question 7

What contols did the Government of Japan have?

Answer 7

• U.S. suppliers to Japan
• Japanese who can import
• Japanese companies who are allowed to acquire impoorted beef
• 3,000 designated stores
• Price
• Cuts (types and amount)
• Distribution system
• Quality and quantity of product due to tender system
• Future growth of meat industry
• Trade and consumer perception of U.S. beef

Question 8

What are the components of the US beef strategy (1985-88)

Answer 8

• Governmet affairs: MITI, MAFF, Foreign Ministry, PM office, Politicians
• Public Affairs: Press, Study Groups, Academia, TV, Think Tanks
• Consumer Affairs: Consumer Organizations, COOP’s, Cooking schools
• ICC intensified contract with trade, non-quota holders
• Presented beef liberalization options for beef in a liberalized market (President/CEO’s)