FM 116 Chapter Notes - Chapter 3: International Monetary Fund, Protectionism, California Institute Of Technology
28 Sep 2016
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Document Summary
Chapter 3: the world marketplace: business without borders. Africa was able to leap frog" over the infrastructure problem of. Evaluating international trade: balance of trade: difference between a nation"s exports and imports. Trade surplus: total value of exports is higher than the total value of imports. Global trade: problems and solutions: sociocultural differences: among cultures in language, attitudes and values. Requires cultivating firsthand knowledge, and practicing extreme sensitivity: economic differences: Infrastructure: country"s physical facilities that support economic activity: political and legal differences: Laws of their own and host countries. Ease of doing business increases the chances of a country to grow: political climate. Influences whether that nation is attractive to foreign business: protectionism: national pol. Free trade: unrestricted movement of goods and services across international borders, general agreement on tariffs and trade (gatt): international trade treaty designed to encourage world wide trade among its members. Free trade movement: world trade organization (wtd): permanent global institution to:
