Factors that determining the Gains from International Trade
Dynamic gains refer to the contributions which international trade makes to the in general financial development of the trading countries. International trade results in an…
Business
Economic Gains of International Trade
A gain from trade is the capability of two agents to augment their expenditure possibilities by specializing in the good in which they have comparative…
Difference between Trade Creation and Trade Diversification
Trade creation: Trade creation occurs when production shifts to more efficient producers for reasons of comparative advantages, allowing consumers access to more goods at a…
Comparative advantage and Absolute advantage: Differences
Comparative advantage: it is a concept where Ricardo said comparative advantage stage is that a country should sell those products to other countries that it…
Commercial Diplomacy
Commercial diplomacy is a government service to the business community, which aims at the development of socially beneficial international business ventures. The term commercial diplomacy…
Establishment objective of International Monetary Fund and its criticism
International Monetary Fund A landmark in the history of world economic cooperation is the creation of the International Monetary Fund, briefly called IMF. The IMF…
Different rounds of GATT and WTO
General Agreement on Tariffs and Trade (GATT), set of multilateral trade agreements aimed at the abolition of quotas and the reduction of tariff duties among…
International Monetary Fund (IMF): Objectives and Functions
The International Monetary Fund (IMF) was established in 1944 as an outcome of the Bretton Woods Conference. The Great Depression of the 1930s and the…
Why did Regional Trading Arrangements emerge over World Trade Organizations?
The World Trade Organization (WTO) is a forum for negotiating and formalizing agreements between nations, as well as resolving disputes. It is the international body…
Do you think WTO is reducing trade protection?
The World Trade Organization (WTO) is the international body dealing with the rules of trade between nations. Its goal is to supervise and expand international…
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