Summary
samenvatting H1-9
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summary of the first part of International Trade chapters 1 to 9
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CHAPTER 1 – INTRODUCTION TO INTERNATIONALTRADE
Trade:
central in ending global poverty
counties open for trade, tend to grow faster
benefits lower-income households by offering affordable goods
trade ≠ sustainable?
o Donut Economy – Kate Raworth
1.1 why international trade?
o wealth of Nations
o the theory of absolute advantage
David Ricardo
o Theorie van de comparatieve kosten
o comparatief kostenverschil = de welvaart van landen stijgt
Ontstaan door: verdeling productiemiddelen +
ontwikkeling land + ligging + inkomen + kunstmatige
voordelen
Wordt aangetoond met het 2- landen model
aantal arbeidsuren nodig voor de productie van één eenheid product
A B C D E F G
Portugal 10 10 10 10 10 10 10
Engeland 20 18 16 14 12 10 8
Wht not do international trade?
protectionism (vb. Amerika vs. China Handel embargo’s)
1.2 world trade
Trade growth has increased at all levels (volume & value)
Export:
o Asia is growing fastest (Covid caused bumpy ride)
o China is leading exporter of goods
o North America declined most
, Import
o Shift from buying services to buying goods
analysing graphs:
look at the title
what is the legend telling
Y&X
Conclusion:
Global trade heavy concentrated in few countries
Leading exporters = leading importers
Belgium decreased but still good position
Growing importance of China
US import value very large
1.3 Belgium status
Export of merchandise = 10th
import of merchandise = 12th => because we have an open economy
Why open economy?
Centrale plek
Hoge bevolkingsdichtheid
Schaarste aan natuurlijke hulpbronnen
Centrum van de Belgische economie = buitenlandse goederen verwerken en exporteren
Balance of Trade
= Geldwaarde export – geldwaarde import van goederen
Handelsoverschot = export > import
o + competitief
o - mogelijke indicatie van onvoldoende binnenlandse groei
Handelstekort = import > export
o + kan duiden op investering in bouweconomie
o - kan leiden tot afhankelijkheid van buitenlandse financiering
Distribution of Trade
Majority of the goods exported remain In Europe
o Germany
o France
o The Netherlands
Outside EU => US, UK & China
,Import & export by sector
Belgium biggest exporter of;
o Frozen vegetables
o Gluten
o Zinc powder
Belgium biggest importer of;
o Raw tobacco
o Acids
o Potatoes
o Linseed
Belgium is 3th best county in logistics
, CHAPTER 2 – GLOBALIZATION
WHAT IS GLOBALIZATION
Globalization = the transformation of national economies into an interdependent integrated global
economic system
Door globalisering kunnen bedrijven de markt zien als een geïntegreerde marktplaats die
kopers, producenten, leveranciers en overheden in verschillende landen omvat.
Het land van herkomst is niet meer geldig, het bedrijf is het platform voor kwaliteitsborging.
Globalisatie zorgt voor:
Dalende belemmeringen voor grensoverschrijdende handel en investeringen
Wereldwijde smaken (zie voorbeeld McDo)
Voordelen voor kleine en grote bedrijven
Aanzienlijk verschil tussen nationale markten
Concurrenten die elkaar volgen over de hele wereld
Globalization of production:
In het begin was outsourcing enkel productie, nu ook serviceactiviteiten
Outsourcing kan zorgen voor verkorten tijd en verlagen kosten
Zie voorbeeld Apple Sourcing Model
DRIVERS OF GLOBALIZATION
1. Declining trade and investment barriers
a. 1920-30: veel belemmeringen voor internationale handel en buitenlandse directe
investeringen => hoge tarieven => vergeldingsmaatregelen (=wraak) handelsbeleid
b. Oprichting WTO
2. Role of technological change
a. Communication
o Development of the microprocessor
o Moore’s law = elke 18 maanden verdubbelt de kracht van
microprocessortechnologie en worden de productiekosten gehalveerd.
b. IOT – Internet of things
o Global e-commerce => half of population uses internet
c. Transportation technology
o Superfreighters
d. Implications (gevolgen) for the globalization of production & markets
TRADE POLICIES & AGREEMENTS
Verschillende regeringen: verschillende opvattingen over de regulering van handel in goederen en
diensten
Vrijhandel = geen beperkingen op wat burgers kunnen kopen van of verkopen aan een ander land
MAAR: vaak niet de realiteit! (bescherming binnenlandse producten)
GATT = General Agreement on Tariffs and Trade
= modern internationale handelssysteem
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