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Lecture 18

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Political Science
POLI 244
Stephen Saideman

Lecture 18October 31 2011Politics of International Economic RelationsThe IssuesTrade goods and services exports and importsoAll about jobsoKeeping jobs in the countryTariffstaxes in importsoIntended to improve competitiveness of domestic industryoImports would be taxed a lot of money before but now is much loweroTo buy something abroad you have to pay for the item itself and pay a tariff on itoMany countries used to fund their governments through tariffs oTariffsto raise moneyto make their goods more competitiveoInternational cooperation has pushed the tariffs downNontariff barriers regulations that limit imports through other meansoOther restrictions that politicians employ to keep their jobs safeoie restrictions on what comes inodolphinsafe tunaoEuropeans dont want GMOs from the US for environmental factors or to favour European market itselfExchange rates the rate at which one currency is exchanged for anotheroDetermined by market by interventionoUsed to be important until we were at par with USoHas an impact on how much you import and exportoEx A higher exchange rate will make it less desirable to buy goods from another countryie Canadian dollar being equal to US goods means American goods are cheaper for Canadians nowthey go to US to go shoppingCanadian goods are now more expensive to USUS doesnt come to Canada for tourismoThe cheaper your currency is the more people will buy your stuffoThe more expensive your currency is the less people will buy your stuffForeign Direct InvestmentoWhen a company buys land builds offices and factories invests in another countrys businessesoWho to fear nextoie countries wanting companies to buy land and invest to employ people from the same countryocountries do not like foreign interferenceowhen foreign countries are buying up land they fear that they will take overoie US countries buying up European countries
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