INTL-BUS-3780 Lecture Notes - Lecture 2: 2007 United Nations Climate Change Conference, General Agreement On Tariffs And Trade, Business Game
Document Summary
They didn"t let any other coins exist: roman common law that dealt with commercial transacions, *when you encourage trade, you tend to have good prosperity, *when you don"t encourage trade, you tend to have less prosperity. Us trade posiion: major changes in the last several decades: World trade expanded from billions to trillions. Lowest exports per capita of any industrialized naion. Decreased by in percentage of total world export. We import a lot more than we export (it"s an imbalance) The balance of trade is when exports=imports. Balance of payments system of accounts that records a naion"s internaional inancial transacions; diference between receipts (exports) and payments (imports: 1. When countries trade there are inancial transacions among business or consumers of diferent naions: 2. Money constantly lows into and out of a country: 3. The system of accounts that records a naion"s internaional inancial transacions is called its balance of payments (bp: 4.
