Ben Arnold exam 3 posi 2320 with 100% correct answers
US 3 pronged trade strategy: Regional integration example - ex: NAFTA &
CAFTA-DR
US 3 pronged trade strategy: Bilateral trade agreements - trade agreement
between two nations
What are some benefits to greater international trade for the US? - -every
dollar we spend ends up somewhere (usually comes back to us in the form of
foreign investment aka our debt)
-productive employment: mutually beneficial deals that raise the total
income
-the idea that if you don't engage in these free trade deals, you'll get left
behind
What are some disadvantages to greater international trade for the US? - -
forcing other states hands
-race to the bottom: characterized by the progressive movement of capitol &
technology from countries with high wages, taxation, & regulation to
countries with low levels
-loss of jobs
What is the WTO? - -World Trade Organization: encompasses more nations &
focuses more on trading goods & services (**global reduction on tariffs**)
-world bank: getting large loans to help other nations so that they become
better trading partners
What is NAFTA? - -North American Free Trade Agreement
-the world's largest free trade agreement
-Canada, US, & Mexico are involved
-a trade agreement between North America that reduces tariffs, eliminates
trade barriers,
US 3 pronged trade strategy: Regional integration example - ex: NAFTA &
CAFTA-DR
US 3 pronged trade strategy: Bilateral trade agreements - trade agreement
between two nations
What are some benefits to greater international trade for the US? - -every
dollar we spend ends up somewhere (usually comes back to us in the form of
foreign investment aka our debt)
-productive employment: mutually beneficial deals that raise the total
income
-the idea that if you don't engage in these free trade deals, you'll get left
behind
What are some disadvantages to greater international trade for the US? - -
forcing other states hands
-race to the bottom: characterized by the progressive movement of capitol &
technology from countries with high wages, taxation, & regulation to
countries with low levels
-loss of jobs
What is the WTO? - -World Trade Organization: encompasses more nations &
focuses more on trading goods & services (**global reduction on tariffs**)
-world bank: getting large loans to help other nations so that they become
better trading partners
What is NAFTA? - -North American Free Trade Agreement
-the world's largest free trade agreement
-Canada, US, & Mexico are involved
-a trade agreement between North America that reduces tariffs, eliminates
trade barriers,
