Friday, September 20, 2013

Young

Definitions: right-down Advantage - A country has an absolute reach in a particular good if it can pay back that good at a lower cost than another(prenominal) country. Ex. fling smith argued that gains from free betray result Absolute Advantage. Pg 169 (More in detail) Heckscher-Ohlin Theory- Postulates that comparative avail is determined by the recounting abundance and scarcity of factors of productions(Land, alternate union movement, and bully). Capital rich states should severalize in capital intensive production, and states with an abundance of cheap labor should specialize in labor intensive production. Ex. Labor is a little big-ticket(prenominal) input in a state with an long provision of labor and this gives labor-abundant states a cost advantage in producing labor intensive good. Pg.170-171 Strategic craftsmanship possibility- A realist betray theory that a state can success risey withdraw in industrial targeting to alter its comparative or emulou s advantage vis-a-vis other states. The states tend to favor industries with advantages in investigate and development, technology, economies of scale, and market power. 169-172 Nondiscrimination- The fundamental cornerstone of the global make out organization. External( most-favored-nation treatment) and internal (national treatment).
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pg 177 true(p)guards- The safe guards principle principle permits WTO members to temporally tack a duty above the maximum obligation dorsum to limit imports that may harm domestic producers. Ex. Safe guards were apply after WWII as the embedded liberal compromise because they allowed states to sign al international agreements without jeopardi! zing domestic stability.Pg 180 Washington Consensus- Refers to the neoliberal puckishness that countries can best achieve economic growth done with(predicate) free markets, a dominant private sector, democratic government, and trade relaxation method. Ex. Washington consensus applied to 1980s foreign debt crisis. Pg 318 Stolper-Samuelson theory - posits that trade liberalization benefits abundantly endowed factors of...If you want to get a full essay, order it on our website: BestEssayCheap.com

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