hnd大三经济学报告-(1).docx

hnd大三经济学报告-(1).docx

《hnd大三经济学报告-(1).docx》由会员分享，可在线阅读，更多相关《hnd大三经济学报告-(1).docx（14页珍藏版）》请在冰点文库上搜索。

I.Introduction

Thisreportintroductionsomeeconomicsabouttheworldeconomyincludingfreetrade,exchangerate,balanceofpayment,NICandLDCandsoon.Inthisreportiwillanalyze14elementstomakeaclearexplanationaboutworldeconomy.

II.Text

1.Explainfreetradeincludingthetheoryofabsoluteadvantageandcomparativeadvantage

Freetradehadtheoriginalintentionthatgoodsandservicescouldbeexchangedfreelybetweencountrieswithnobarrierstothisexchange.

Trans-PacificPartnershipAgreement,orTPP,asit’smorecommonlyknow.12countrieslikeAmerica,Japan,Australianandsoon,theyreachonagreementaboutTPPon5thofOctoberin2015.BetweenTPPmembers,theproductsandservicepricewilldecreaseandlogisticsspeedwillincrease.Addthe12countrieswhichaccountsfor40%oftheglobaleconomy.TheTPPwillreduceordecreasetariffon18000categoriesofproducts.

Absoluteadvantageissaidtooccurwhenonecountrycanproduceagoodorservicetoapre-determinedqualitywithlessresourcesthananothercountry.

Thebenefitoradvantageofaneconomytobeabletoproduceacommodityatalesseropportunitycostthanotherentitiesisreferredtoascomparativeadvantageininternationaltradetheory.

In1970s,manufactureindustrytakeuplargeproportioninUK,itsmanufactureindustryhasabsoluteadvantage.However,itsindustrybegantransfertooverseasfrom1980s.Particularlymanufactureindustry,UKenvironmentbecomeverybadduotomuchmanufactureindustry,soUKgovernmentdecideclosesomedomesticfactoryandinvestFinancialindustry.Financialindustryrosesharplybaseonthisopportunity.Financialindustrydon’thavetocausepollution,anditsprofitabilityalsoverygood.

2.Identifythreegainsfrominternationaltrade

Firstofall,goodsandservicescouldexchangefreelybetweencountrieswithnobarrierstothisexchange.Andthegoodscandecreasecost,andthatcanincreaseemploymentrateandrosetheeconomicinthelocalarea.

Second,Internationaltradecanimproveglobalproductivitybecausethatcanuseabsoluteadvantageandcomparativeadvantagetomakecostdeductionandafterthattheproductivitywillincrease.

Third,Internationaltradecustomercangetmoreproductsfromothercountries,andlowproductcostcanmakethegoodsbecomemorecheaperandinternationaltrademakethemarketbecomelargeandincreaseproductwillmakescaleeffect.

3.Explainbarrierstotradeincludingtwoformsofprotection

Tradebarriersaregovernment-inducedrestrictionsoninternationaltrade.Thebarrierscantakemanyforms,includingthefollowingtariffsandnontariffs.

Giveaexampleabouttariffs,35%tariffsonChinesetyresimposedontheUnitedStateson11thSeptemberin2009.ItmakeChinesetyresfirmshavetoincreasepriceifsalesinAmerica.

Forexampleaboutnontariffs,RussiatoUkraineforembargoeswhichsuspensionofUkraineimportsofjuiceon29thJulyin2014.ItmakeUkraine’sjuicenotallowsaleinRussia.

4.Explainwhygovernmentmaywishtorisebarrierstointernationaltrade

Becausegovernmentwanttoprotectthecountry’sjobopportunityandavoidanti-dumping.Forexample,LocalshoemakerinElche,thecapitalofSpain’sonceflourishingfootwearindustry,arguethat“MadeinChina”istakingawaytheirjobsbymeansofultra-lowpricing.

Forexampleaboutanti-dumping,earlierinMay2012,solarpanelmanufacturersintheUnitedStatesledtheU.S.Governmenttoimposeanti-dumpingduties,rangingfrom31%to250%onsolarpanelimportsfromChina,whichwereaccusedofsellingpanelsintheU.S.Marketatpricesbelowcost.

5.DescribetheroleofWTOindevelopmentoffreetrade

TheWTOwasfoundedin1994onApril15.WTOhas164memberstates,headquartersinGeneva,Switzerland.WTOobjectiveisimprovelifelevelensuresufficientjobopportunityandsolarimproveincomelevelandkeepthesustainabledevelopmentroadandensuredevelopingcountry’sinterests.

WTObasiconopen,equalityandmutualbenefit,escalatedecreasetariffsandnontariffsandeliminatediscriminatebetweenthememberstatesintheinternationaltrade.Thatwillpromotethedevelopmentoffreetrade.

On7thDecember2013,18yearshavepassedsincetheestablishmentoftheWTO’sfirstglobaltradeagreementwasborn.Thatwillpromotethedevelopmentoftreetrade.

6.0ExplainhowEUpromotefreetrade

EuropeanUnionorEUestablish1stofNovemberin1993.Thereare28memberofcountryintheEUnowlikeNetherlands,France,Italyandsoon.HeadquarteredinBrussels,Belgium.ThepurposeofEUisStrengthenthecoordinateddevelopmentofeconomyandsocietyandestablishtheeconomicandmonetaryunionofthefinalimplementationoftheunifiedmonetaryunion,andpromotethebalanceddevelopmentofeconomicandsocialdevelopmentofthememberstates.

EUmakemanyrulesformemberstateslikeremovalofthemembercountriesofthebordercontrol,memberstatescapitalcanflowfreely.TheseruleshelpEUmembercountriesescapethetradebarrier.

Andotherruleslikefreetradebetweenmemberstates,anduseasamecurrencywhichiseurotomaketrade,theseruleshelpthememberstatesexpandmarkettoeconomicgrowth.

7.0ExplainthecompositionoftheUK'sbalanceofpaymentsanditsrecenttrendsinthelast30years

ThisaccompanyingpictureaboveshowsdetailaboutbalanceofpaymentintheUKin2010.

Thisabovetablegivesinformationaboutcurrentaccount,capitalaccountandfinancialaccountinUKfrom1980to2010.Intermsofcurrentaccount,accordingtothedata,therejustfouryearsthefigureispositivewhenbetween1980and1983.Andthenthefigurealmostnegativefrom1984to2010.Andthefiguregainthelowestnumberabout-55190millionin2008.ThissituationillustrateUK’seconomicdevelopmentisnotverygood.

Intermsofcapitalaccount,accordingtothedatathisaccountexperienceafluctuatetrend.Atfirst,thefigurewas-4millionin1980andthenthefiguredecreaseto-79millionin1981.Afterthatthefigurewas6millionin1982increaseto159millionin1987.Whatisfunnythingisthefigurefallagainto-39millionin1988.Afterthatthefigureexperienceafluctuateandwhatisnotableisthefiguregainalowestnumber-1527millionin2006.

Intermsoffinancialaccount,thefigureseeanpositivetrendfrom2157millionin1980to122millionin1986.Andthenthefigureexperienceanegativetrendbetween-9690millionin1987and-23296millionin1993.Andfrom-20261millionin1999to-30276millionin2010thisaccountexperiencenegativetrendagain,andgetthelowestnumberin2008becauseofthefinancialcrisisthefigurewas-39301million.

8.0ExplainBritishtradetrendsinthelast30years

ThetableshowstheevolutionoftradeingoodsandservicesinUKbetween1980and2008.Thetradeingoodsaccountstand20billionin1980.Thetradeingoodsaccounthasremainedindeficit.Thedeficitgrewremarkableinthelate1980storeachapeakofabout24billionin1989.Andthendecreasedbackto20billioninearly1990sandkeepastableat10billionfrom1991to1998.In1998thedeficitjumpedbyover9billion,andithascontinuedtorisesince,reachingacashrecordof92.9billionin2008.

Overall,theevolutionoftradeingoodsexperienceanupwardtrend.Withthedevelopmenttoofast,UKneedtokeepupwiththetimes,thecountrymustthroughtradeingoodtoincreasecountry’sincomesowiththepassageoftime,therearemoreandmoretradeinUK.

Thetradeinservicesaccountstand8billionatfirstandthefigurekeepuntilin1995.From1995to2003thefigurekeeparound18billion.Afterthat,thefigureexperienceanupwardtrendandpeakat56billionin2008.

Overalltheevolutionoftradeinserviceseeanupwardtrend.Withthedevelopmentofthetimes,serviceslikefinancialservice,travelservicebecomemoreandmorepopularforpeople.Sothethenumberoftradeinservicewillbeincrease.

9.0Therelationshipbetweenexchangerateandbalanceofpayments

Exchangerateistherateatwhichonecurrencywillbeexchangedforanother.Itisalsoregardedasthevalueofonecountry’scurrencyintermsofanothercurrency.Cheapercurrencyhelpsboosttheexport.Ifdemandkeepkeepthesame,thevalueofgoodswillreduceandthecurrentaccountbalancemaydeteriorate.Iftheexchangerateincrease,thecountry’sgoodsmightsufferanddemandfromabroadcoulddecrease.Ifthedemandkeepthesamevolume,thevalueofexportswillriseandthecurrentaccountbalanceshouldbeimproved.Forexample,Chinaallowedtheyuantorise21%againstthedollarinthethreeyearstoJuly2008,butsincethenithasmoreorlesskepttheratefixed.Asaresult,theyuan’stradeweightedvaluehasbeendraggeddownbythesicklydollar,whilesomeothercurrencieshavesoared.SinceMarchtheBrazilianrealandtheSouthKoreanwonhavegain42%and36%respectivelyagainsttheyuan,seriouslyerodingthosecountries’competitiveness.

Whencurrencyappreciation,itbenefitforoverseasinvestmentandcapitaloutflows.Onthecontrary,currencydevalue,itwillinfluenceoverseasinvestmentandbenefitforforeigncapitalinflows.

10.0Theadvantagesanddisadvantagesaboutfloatingexchangerateandsinglecurrency

Intermsofadvantagesaboutfloatingexchangerate,firstisexpectedtoprovideanautomaticcorrectingmechanism,itwillhelpcountryadjustthefunctionofbalanceofpayments.

Secondistheexchangeratewillnotbecomeatargetbecausewhicheverwayitmoves,themechanismshouldstarttooperatequicklytorestoreequilibrium.

Thirdisifacountryimportsmorethanitexportsthent