Why Is International Trade - 2083 Words

Why Trade? Why is international trade even important? Why can’t a country just use what it can produce? The answers to these questions are varied in so many ways. International trade is important to different countries for different reasons. Developed countries like the US could very well get by strictly get by on products that they produced. When we think about the products that the US specializes in though, we can get a clearer picture of all the amazing products we would be missing out on. If we look at developing countries that don’t have the resources the US does, or smaller countries whose land mass is in all one climate zone we can get a better idea of the difficulties they would face trying to farm all of their own products as the crops that would be available to them in that region may be quite limited. The European Commission published a 10-fact list regarding the importance of international trade and the numerous benefits it brings to the countries involved. The EC pointed out that international trade partners countries in a positive way creating a sense of unity. Trade also promotes innovation of new products to bring to the market as well as more competitive pricing as well as foreign direct investment. One of the most important facts that EC points out in their article is the benefit of open trade to countries. Open trade provides wider business opportunities for local companies by providing access to new and larger markets. Lowering trade barriers makes itShow MoreRelatedWhy Do Business Internationalise?. International Trade1181 Words   |  5 PagesWhy do business internationalise? International trade can be traced back to ancient years. Our ancestors, with the purpose of increasing the variety of local products, had been trying their best for decades to trade cross border. With the development of international business, international trade theories was developed to explain the benefit nations can get from utilizing free trade pattern and participating in the multilateral trade via opening up strategy by eliminating import control, exportRead MoreWhy The Trade Show Is Kuwait International Fair As A First Step Move Into The International Business1745 Words   |  7 PagesI recommend to do the trade show in Kuwait International Fair as a first step to move into the international business. Our company products such as Bathroom and Kitchen faucets will be displayed in The Big 5 Kuwait 2015 trade show. This report illustrates the rationale for selecting Kuwait as the trade show location for the Rona Faucets Company and in addition, it briefly explains about the exe cution strategy, budget, and advertising and promotion methods in the Kuwait trade show. 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It’sRead MoreInternational Trade Management Lecture Notes Essay1632 Words   |  7 PagesInternational Trade Management Lecture 1 Juney Notes Globalisation Debate Lecture Objectives: 1. Globalisation Trends (Have choices, Cheaper) 1.1 Globalisation 1.2 Trends 1.3 To operate abroad, consider†¦ 2. Anti-globalisation (When you are anti-smth, there would be forms of barriers) 3. Trade barriers – government intervention in international trade 3.1 Free trade 3.2 Trade Barriers 3.3 Why Government Intervene in International Trade 3.3.1 Political ArgumentsRead MoreAdvantages And Disadvantages Of International Trade1334 Words   |  6 Pagesfrom Japan. International trade has advantages and disadvantages for everyone involved. It wasn’t that long ago that the items we owned only came from within our own country. So why is it that international trade exists and what advantages does this bring to a developed country and what advantages does this bring to a developing country? International trade also has its downfalls. In the following assessment I will look at both the advantages and disadvantages of international trade and how we