AFM131 Lecture Notes - Canadian Dollar, Mercosur, General Agreement On Tariffs And Trade

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Robert Sproule

Document Summary

Afm 131 - chapter 3 competing in global. Exporting aggressive business, up against other countries: exporting: selling products to another country, importing: buying products from another country. Cons domestic workers (particularly in manufacturing-based jobs) can lose their jobs due to increased imports or production shifts to low-wage global markets. Workers may be forced to accept pay cuts from employers, who threaten to move to low wage global market. Countries still decide to produce even if they lack the comparative advantage. Getting involved in the global trade: global business job potentials lie in the small companies. In canada, small businesses account for 49% of the total private labour force and 16% of them export: government agencies international trade canada and export. Importing goods and services: merchandise trade come in 3 categories: machinery and equipment, automotive products, industrial goods and materials, merchandise trade represents 69% of imports. If imports keep increasing how will it affect our standard of living/quality of life.