复旦大学国际贸易International Trade课件英文原版(1)

Slide 1-3
Introduction
Huge reductions in transport costs；
Steam power: rail, steamships; Suez Canal 1869; refrigeration.
Improvements in communications
Submarine telegraph cables linking financial markets: English Channel in 1851,
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Introduction
The study of international economics has never been
as important as it is now.
• At the beginning of the 21st century, nations are more
The Balance of Payments
• Some countries run large trade surpluses.
Slide 1-9
Introduction
Figure 1-2: Exports and Imports as Percentages of National Income in 1994
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Slide 1-10
What is International Economics About?
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Slide 1-8
Introduction
Figure 1-1: Exports and Imports as a Percentage of U.S. National Income
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What is International Economics About?
How Much Trade?
• Many governments are trying to shield certain industries
International economics deals with economic
interactions that occur between independent nations.
• The role of governments in regulating international trade
from international competition. • This has created the debate dealing with the costs and benefits of protection relative to free trade.
– Advanced countries’ policies engage in industrial targeting. – Developing countries’ policies promote industrialization:
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What is International Economics About?
The Pattern of Trade (who sells what to whom?)
• Climate and resources determine the trade pattern of
– Bolshevik Revolution 1917 in Russia – Fascism in Italy 1920s, Nazism in Germany 1936, Franco victory in Spanish Civil War 1936
Great Depression in 1930’s; Collapse of world trade.
Repeal of the Corn Laws 1846: UK starts to import food in exchange for industrial goods； Global capitalism spread through conquest and colonialism；
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– U.S.: Smoot-Hawley Tariff Act 1930, which raised tariff of over 20,000 imported products
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Introduction
Capitalist model increasingly dominant:
– – – – Technological dominance of U.S; European integration; State-led industrialization failed to produce growth; Intellectual dominance of liberal economics .
closely linked through trade in goods and services, through flows of money, and through investment in each others’ economies than ever before. [Globally] • Figure 1-1 shows that international trade for the United States has roughly tripled in importance compared with the U.S. economy as a whole. [Locally]
and investment is substantial. • Analytically, international markets allow governments to discriminate against a subgroup of companies. • Governments also control the supply of currency.
Introduction
• Re-opening 1945- (Second Globalisation)
Three blocks until late 1980’s:
– 1/3 of world’s population – Socialist; – 1/2 of world’s population – State-led industrialization; – 1/6 of world’s population – Capitalist.
Chapter 1 Introduction
International Economics: Theory and Policy by Paul R. Krugman and Maurice Obstfeld
Chapter Organization
Introduction What is International Economics About? International Economics: Trade and Money
– Import substitution versus export promotion industrialization.
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What is International Economics About?
transatlantic 1866
Mass migrations: Europe to New World
Foreign direct investment
Enormous growth in trade helped by stable currencies: Gold Standard
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Hawley and Smoot, the bogeymen of trade
A cautionary tale about how a protectionist measure opposed by all right-thinking people was passed.
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several goods. • In manufacturing and services the pattern of trade is more subtle. • There are two types of trade:
– Interindustry trade depends on differences across countries. (Between Developed Countries and Developing ones) – Intraindustry trade depends on market size and occurs among similar countries. (Between Developed Countries)