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POL208Y1 (500)

Trade and Globalization I

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Political Science
Lilach Gilady

thPOL208Y1 Introduction to International Relations January 17 2012 Trade Ancient Times y Once every 3 years came the navy of Tarnish bringing gold silver ivory apes and peacocks King 1022ththThe Salt Trade 816 cent AD y Gold for salt across Sahara and into northern Africa y Salt is a necessity in order to survive so if you live inland away from ocean salt becomes very expensive because it is a necessityThe Silk Roady Carried silk etc from Asia to Europe y Every couple of kilometers there will be buildings called kauns which were kind of motel of that era y Built these centers to get water goods etc and where customs were collected y Interaction bw trade and govt is not newEuropean Maritime Exploration y When silk road was blocked and could not arrive to Europe European powers needed to find another way to get to these goods y This is what started the age of exploration y Exploration mostly motivated by tradeThe Opium Wars 183942 185660 y Fought by several European powers in china thy In early 19 century English discovered tea and they developed a linking to tea y This lead to a grave issue because they wanted tea but had nothing to sell to China y So they started to cultivate opium in India and they could sell tween jackets to India get opium and sell that to china for tea y Chinese became addicted to opium and demand increased y Defecate was on Chinese side rather than English side y Chinese decided to ban trade in opium y This upset English so they decided to bomb Chinay British gained control of Hong Kong y British also destroyed many palaces etcBasic Concepts y Transaction costs cost of trade including transportation but also risk etcamount of some other good that is lost in order to obtain unit y Opportunity costsof given good y Relative prices the price of a good in terms of other goods the barter priceModern Theory of Trade
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