hnd经济学2世界经济学及高考语文试卷

F86E35Economics2:TheWorldEconomyPAGEEconomics2:TheWorldEconomyF86E35CandidateName:RENLUGradeandClass:2021BA1HYPERLINKIntroduction2HYPERLINK1.Freetrade3HYPERLINK2.Absoluteadvantagesandcomparativeadvantages3HYPERLINK3.Thebenefitsoffreetrade4HYPERLINK4.Thepurposeofcarryingouttradeprotectionism5HYPERLINK5．OneMechanismoftheWorldTradeOrganization6HYPERLINK6.OnemeasureofEuropeanUnionpromoteseconomicintegration8HYPERLINK7.Balanceofpayments9HYPERLINK8.ThegeneraltrendsinUKtradeoverthelast30year10HYPERLINK9.Thebalanceofpaymentsaffectedbyexchangerates12HYPERLINK10.Advantagesanddisadvantagesoffixedrateandfloatingrate13HYPERLINK11.Effectsoffixedrateandfloatingrateonindividualsandcompany15HYPERLINK12.Thecharacteristicsofthenewlyindustrializedcountriesandthedevelopingcountries16HYPERLINK13.Theissuesofthenewlyindustrializedcountriesandthedevelopingcountries17HYPERLINK14.TheinfluencesMulti-NationalCorporationsbringtonewlyindustrializedcountries.18HYPERLINKConclusion19HYPERLINKReference20IntroductionThisreporthasintroducedtheworldeconomicssimply.Thecontentincludes:Internationaltrade,freetrade,Protectionism,theroleofWTOandunder-developednation,UKabsoluteandcomparativeadvantage,theprotectionismandtworecentexamplesaboutdemonstrateargumentswhichgovernmentmayputforwardforitsuse,twobarriersoftrade,aEUinitiativeabouttheroleoftheEUinpromotingtrade,thecompositionofthebalanceofpayments,thegeneraltrendsinUKtradeoverthelast30years,thewaywhichthebalanceofpaymentsaffectedbyexchangerates,ananalysisoftwocurrentissuesthatfaceLDCs,andtheaidofrecentexamplesabouttwoimpactsofmultinationalsonNICsandLDCs.I.Freetrade(1).Freetradeisatypeoftradepolicythatallowstraderstoactandtransactwithoutinterferencefromgovernment.Thus,thepolicypermitstradingpartnersmutualgainsfromtrade,withgoodsandservicesproducedaccordingtothetheoryofcomparativeadvantage.China-ASEANfreetradeareawasformallyestablishedinJanuary1,2021,coveringapopulationof1900000000.China-ASEANfreetradearea’sGDPamountedto$6andtradeamountedto$4.5.Itisthelargestfreetradezoneamongdevelopingcountries.AftertheestablishmentofCAFTA,morethan90%productsarecarriedoutforzerotariffsonbothsides.AveragetariffsfromChinesetoASEANdecreasefrom9.8%to0.1%,AveragetariffsfromASEAN’ssixoldmemberstoChinesedecreasefrom12.8%to0.6%.Tariffs’hugereductionpromotedtherapidgrowthofbilateraltrade.ChinaandASEANcountries’tradeinvestmentgrows,economicintegrationdeepens,companiesandpeoplearewidelybenefit,realizinggoalsofmutualbenefitandwin-wincooperationandcommondevelopment.ChinaandASEAN’stotalquantityofbilateraltradegrowsrapidly.FromJanuarytoOctoberthisyear,thebilateraltradevolumehasreachedto$295900000000,ayear-on-yeargrowthof25.7%.(2).AbsoluteadvantagesandcomparativeadvantagesAbsoluteadvantagesissaidtooccurwhenonecountrycanproduceagoodorservicetopre-determinedqualitywithlessresourcesormorecheaplythananothercountry.Evenwhenacountryhasanabsoluteadvantageoveranothercountryintermsofcommoditiestheywishtotradeitwillstillbetotheirmutualadvantagetotradeprovidingeachcountryhasthecomparativeadvantages.UKisamajorimporterofmanufacturinggoodssuchclothes,shoes,toys,electronicproducesetc.astheselabororientedconsumergoodswillcostmoreinUKbefore1980s.UKhastheWiththedevelopmentofservice,theadvantageoftradeisservicetrade.Thegoodsthatcourtryimportandexportchangeovertimeasthegoodsinwhichtheyhaveacomparativeadvantagechangeovertime.Before1970s,manufacturingindustryisitsabsoluteadvantage.After1970s,serviceindustryismorecompetitiveforinternationaltradesuchascomputersoftware,businessserviceandpharmaceuticals.Theseindustryareseentobringthepossibilityoflongtermgrowth,whiletheindustriesbasedonheavycapitalinvestmentorrequiringrelativelycheaplaborwillnotbecompetitivewithdevelopingcountries.2.Thebenefitsoffreetrade(1).Goodsandservicesproducedatlowercost.Freetradecanpromotethecooperationofdifferentcountriesintheworld.Itcandecreasethecostofproducinggoods.(2).Greaterrangeofcommoditiesforconsumers,morechoice.Anycountriescannotproduceallproducts,theyallhaveproductswhichareunabletoproduce.Tradeallowustobuyallofthem.Greaterrangeofcommoditiesprovidecustomerswithmorechoice.(3).Increasedworld-wideoutput.Eachcountryproducingaccordingtotheirrespectiveadvantageshashighefficiency.Underthesameresources,ithashighyield.Therefore,internationaltradeincreasedworld-wideoutput.BarrierstoInternationalTradeTradebarriersaregovernment-inducedrestrictionson\o"Internationaltrade"internationaltrade.Thebarrierscantakemanyforms,includingthefollowingtariffsandnontariffs.NonTarriffBarriers-exchangecontrolsInarealworld,thereisandshouldbeacertaindegreeofgovernmentinterventiononforeignexchange.Importsneedforeigncurrenciestobuygooodsandservicesfromabroad.Importersmustapplytothecenytalbankforthecurrencytheyneedtopurchasegoodsinthatcountry,TheCentralbankcanerxertcontroloverthevarietyandvolumeofbothimportsandexportsbycontrollingthequantityofforeigncuurencyitwillissuetoexportersandimporters.NonTarriffBarriers-ImportDepoitsGovernmentrequiresimporterstolodgeanon-interestbearingdepositinadvancewithitsCentralBankbeforetheycanbuygoodsandservicesfromabroad.Besides,thedepositisusuallyinanamountequaltoallorpartofthecostofimportedgoods.Thisistimeconsumingandobviouslyexpensivesinceitreducestheliquidityoftheimportingfirms,whichtendtohindertheirimportingactivities.Before1984,theNigerianadvancedimportdepositrangedfrom50%to200%ofthevalueofalistofimportitems.Giveaexampleabouttariffs,35%tariffsonChinesetyresimposedontheUnitedStateson11thSeptemberin2021.ItmakeChinesetyresfirmshavetoincreasepriceifsalesinAmerica.Forexample,tnontariffsinRussiatoUkraineforembargoeswhichsuspensionofUkraineimportsofjuiceon29thJulyin2021.ItmakeUkraine’sjuicenotallowsaleinRussia.4.ThepurposeofraisingbarrierstoInternationalTrade(1)Thepurposeistoprotectemployment.FootwearmanufactureersassociationsofItaly,SpainadPortugalarereportedtohavefieldapplicationstotheEUtocurbfootwearimportsfromChina.LocalshoemarkersinElche,thecapitalofSpain’sonceflourishingfootwearindustry,arguethat“madeinChina”istakingawaytheirjobsbythatChineseshoeshavebeenboominginSpainjustbecauseofgoodqualityandreasonableprices.(2)Thepurposeistoanti-dumping.InJuly2021,SolarWorldAG,aGermangiant,ledaconsortiumofaround25EUsolarpanelproducerstofileacomplainttotheEUCommissiontoinvestigatewhethertherehasbeendistortionofcompetitionbyChinesecounterpartsduetodumping.SoonGermanyagainstChinalowprice.5．TheRoleofWTOTheWorldTradeOrganization(WTO)isan\o"Organization"organizationthatintendstosuperviseand\o"Freetrade"liberalize\o"Internationaltrade"internationaltrade.Theorganizationofficiallycommencedon1January1995underthe\o"MarrakechAgreement"MarrakechAgreement,signedby123nationson15April1994,replacingthe\o"GeneralAgreementonTariffsandTrade"GeneralAgreementonTariffsandTrade(GATT),whichcommencedin1948.Theorganizationdealswithregulationoftradebetweenparticipatingcountriesbyprovidingaframeworkfornegotiatingandformalizingtradeagreementsandadisputeresolutionprocessaimedatenforcingparticipants'adherencetoWTOagreements,whicharesignedbyrepresentativesofmembergovernmentsandratifiedbytheirparliaments.TheWTOdisputesettlementmechanismismeasuresofdealingwithtradedisputesbetweenmembers.Itistheeffectivewayforcountriesespeciallythedevelopingcountriestoresolvetheeconomicfrictionandsafeguardtheirlegitimaterightsandinterests.Itisveryunfavorableforthedevelopingcountriestoresolvetradedisputesespeciallytradedisputeswiththedevelopedcountriesthroughbilateralchannels.Thebilateralapproachpursuesstrengthdoctrine.Involvedintradedisputesamongdevelopingcountries,theWTOdisputesettlementmechanismrulingiscomparativelyfairandreasonable.Aseitherthecomplainantorrespondent,thelegitimateinterestsofthedevelopingcountrieshavebeeneffectivelyprotected.ItisbecausetheWTOdisputeadjudicationhasverystrongfairness,developingcountriesgenerallyhaveahighenthusiasmtousetheWTOdisputesettlementmechanism.SomelargereconomicscaledevelopingcountriesismoreactiveintheuseofWTOdisputesettlementmechanism.Ithelpstoreducetheeconomicfrictionbetweencountries,andpromotefriendlyrelationsamongnations.TheUruguayRoundwasthe8throundof\o"Multilateraltradenegotiations"multilateraltradenegotiations(MTN)conductedwithintheframeworkofthe\o"GeneralAgreementonTariffsandTrade"GeneralAgreementonTariffsandTrade(GATT),spanningfrom1986to1994andembracing123countriesas"contractingparties".TheRoundledtothecreationofthe\o"WorldTradeOrganization"WorldTradeOrganization,with\o"GATT"GATTremainingasanintegralpartoftheWTOagreements.ThebroadmandateoftheRoundhadbeentoextendGATTtraderulestoareaspreviouslyexemptedastoodifficulttoliberalize(\o"Agriculture"agriculture,\o"Textiles"textiles)andincreasinglyimportantnewareaspreviouslynotincluded(tradein\o"Service(economics)"services,\o"Intellectualproperty"intellectualproperty,\o"Investmentpolicy"investmentpolicytradedistortions)HerearesomeothersareastheWTOhasdealtwithinattemptstoestablishitselfasthepolicingbodypromotingfreetrade.TheBananaDispute.TheWTOruledthattheEuropeanUniondiscriminatedunfairlyagainsttheUSwithitsbananaimportrules.TheWTOallowedtheUStoslapa$191millionsanctionontheEU.Wasitpaid?Wedonotknowbutprobablynotso.6.OnemeasureofEuropeanUnionpromoteseconomicintegrationTheEuropeanUnion(EU)isa\o"PoliticsoftheEuropeanUnion"politico-\o"EconomicandMonetaryUnionoftheEuropeanUnion"economicunionof28\o"MemberstateoftheEuropeanUnion"memberstatesthatarelocatedprimarilyin\o"Europe"Europe.TheEUoperatesthroughasystemofsupranational\o"InstitutionsoftheEuropeanUnion"institutionsand\o"Intergovernmentalism"intergovernmentalnegotiateddecisionsbythememberstates.Theinstitutionsare:the\o"EuropeanCommission"EuropeanCommission,the\o"CounciloftheEuropeanUnion"CounciloftheEuropeanUnion,the\o"EuropeanCouncil"EuropeanCouncil,the\o"CourtofJusticeoftheEuropeanUnion"CourtofJusticeoftheEuropeanUnion,the\o"EuropeanCentralBank"EuropeanCentralBank,the\o"CourtofAuditors"CourtofAuditors,andthe\o"EuropeanParliament"EuropeanParliament.TheEuropeanParliamentiselectedeveryfiveyearsby\o"CitizenshipoftheEuropeanUnion"EUcitizensEUcaneliminatecustomersdutiesandquotasonimportsandexportsofgoodsbetweenmemberstatesandeliminatetariffsbetweenEUmembers.Thoughtheinstitutions,memberscanestablishcommonpoliciesforagricultureandtransportforfreetrade.Itcanacceleratetheinvestmentfromawiderangeofcontries.WiththerisingstatusoftheeuroanddevelopmentofEuropeancapitalmarket,members’costofcapitalwilldecline,whichisconducivetoinvestmentandeconomicgrowth.TheEuropeanCentralBank(ECB)developandimplementaunifiedmonetarypolicy,eachcountry’sinterestrates,pricesandinvestmentreturnswillgraduallynarrowthedifferencesorreachtounanimous,leadingtoanoveralldeclineofpriceandthelevelofinterestrates.7.Balanceofpayments(s://gov.uk/government/statistics/announcements)Thebalanceofpayments(BOP)ofacountryistherecordofalleconomictransactionsbetweentheresidentsofacountryandtherestoftheworldinaparticularperiod(overaquarterofayearormorecommonlyoverayear).Thesetransactionsaremadebyindividuals,firmsandgovernmentbodies.Thusthebalanceofpaymentsincludesallexternalvisibleandnon-visibletransactionsofacountryduringagivenperiod,usuallyayear.Itrepresentsasummationofcountry'scurrentdemandandsupplyoftheclaimsonforeigncurrenciesandofforeignclaimsonitscurrencyThistableillustratescurrentaccount,capitalaccountandfinancialaccountinUKduringthe20yearsfrom1980to2021.Intermsofcurrentaccount,therejustfouryearsthefigureispositivewhenbetween1980and1983.Andthenthefigurealmostnegativefrom1984to2021.Andthefigureachievesthelowestnumberabout-55190millionin2021.ThissituationillustratethattheeconomyofUKdevelopnotverywell.Asforcapitalaccount,thedatashowsthatthisaccountexperienceafluctuatetrend.First,thefigurewas-4millionin1980andthenthefiguredecreaseto-79millionin1981.Afterthatthefigurewas6millionin1982increaseto159millionin1987.Whatisfunnythingisthefigurefallagainto-39millionin1988.Afterthatthefigureexperienceafluctuateandwhatisnotableisthefiguregainalowestnumber-1527millionin2021.Intermsoffinancialaccount,thefigureseeanpositivetrendfrom2157millionin1980to122millionin1986.Andthenthefigureexperienceanegativetrendbetween-9690millionin1987and-23296millionin1993.Andfrom-20261millionin2021to-30276millionin2021thisaccountexperiencenegativetrendagain,andgetthelowestnumberin2021becauseofthefinancialcrisisthefigurewas-39301million.8.ThegeneraltrendsinUKtradeoverthelast30yearOverall,theevolutionoftradeingoodsshowanupwardtrend.Withthequickdevelopment,UKneedtokeepupwiththetimes,thecountrymustthroughtradeingoodtoincreasecountry’sincomesowiththepassageoftime,therearemoreandmoretradeinUK.ThetableshowstheevolutionoftradeingoodsandservicesinUKbetween1980and2021.Thetradeingoodsaccountstand20billionin1980.Thetradeingoodsaccounthasremainedindeficit.Thedeficitgrewremarkableinthelate1980storeachapeakofabout24billionin1989.Andthendecreasedbackto20billioninearly1990sandkeepastableat10billionfrom1991to2021.In2021thedeficitjumpedbyover9billion,andithascontinuedtorisesince,reachingacashrecordof92.9billionin2021.Thechartshowsthatthetotalgoodsexportsarelessthanimports,whichleadstodeficit.However,thetotalserviceexportsaremorethantotalserviceimports,whichresultsinsurplus.ItshowsUnitedKingdomisinalargefiscaldeficitinthelast30years.Thehighestsurplusisin1981,howeverthecurrentbalancedeficitfrom1984to1990.From1984to1989,thecurrentbalancedeficitandin1987,thedeficitincreasequickly.Thecurrentbalancedeficitfellsharplyfrom1990to1991.From1992to2021,thecurrentbalanceslightlyfluctuates.Thenfrom2021to2021,thedeficitincreasedsubstantially,althoughfrom2021to2021,thereisaslightdecline.From2021to2021deficithasasteepdecline.Mainreasonmaybeingoodstradebalancedeficits,whilethesurplusontradeinservices,especiallyinthelast30yearsgrowth.Inthepast30yearsBritain'smerchandisetradedecreased,becauseofthehighcostofHR,theUKisfewtodoingthemanufacture,mostgoodsisdependonimported,noexported.Butthefinancialservices,rentingandbusiness,istotallyincreased,sointhepast30years,theUKfinancialhasbeensteadilyincreasing.9.Thebalanceofpaymentsaffectedbyexchangerates(1)Theeffectsofexchangeratesfortradea.Importedgoodswillbedearer,thereforetheTradeinGoodsislikelytomoveintodeficit.Consumersmayturntoconsumemoreimportedgoods;Inflationmaybelowerbecausedomesticfirmsmayreduceprices.ThepriceofimportedrawmaterialsmaygodownagainaffectingtheTradeaspect.Consumersmayfinditeasiertobuyimportedgoods.b.Domesticgoodsandserviceswillbecheaperbothinforeignanddomesticmarkets.Acountrywhichhasreducedthevalueofitscurrencywouldcertainlybelookingtosellmoreabroad.ThisshouldmeananimprovementinTradeinGoods.CheapercurrencyhelpsboosttheexportSeeanexample:AUKfirmmanufacturesharddiscsforacomputerfirmintheUSA.Sellingprice:100pounds.Exchangerate:1pounds=$1.5CosttotheAmerican:$150.Exchangerate:1pounds=$2CosttotheAmerican:$200TheAmericanfirmmayconsiderthistobetooexpensiveandlookelsewhereforacheaperalternative.If:Exchangerate:1pounds=$1CosttotheAmerican:$100TheAmericanfirmmayconsiderthistobecheaper,andbuymore.(2)Theeffectsofexchangeratesforcapitalaccountsa.Manufacturingfirmsmightforexamplebuildupstocksattecheaperpriceandforeigninvestmentmayincreasebecauseprofitssentbackwillbeworthmoreintheirdomesticcurrency.b.Itcouldencouragefirmsandindividualstoinvestabroadinthattheforigncurrencyearnedwillbeworthmorewhensentbacktothedomesticmarket.10.AdvantagesanddisadvantagesoffixedrateandfloatingrateFloatingexchangerateorfluctuatingexchangerateisatypeof\o"Exchange-rateregime"exchange-rateregimeinwhichacurrency'svalueisallowedtofluctuateinresponsetomarketmechanismsofthe\o"Foreign-exchangemarket"foreign-exchangemarket.Acurrencythatusesafloatingexchangerateisknownasafloatingcurrency.Afloatingcurrencyiscontrastedwitha\o"Fixedcurrency"fixedcurrency.Advantages.Largereserveswillnotbenecessarytoprotectthecurrencyagainstchangesorspeculation.Acountryhasnoobligationtomaintainexchangeratestability,andthereforeitdoesnotneedforeignexchangereserveasmuchasinthefixedexchangerates,whichcansaveforeignexchangefunds.Theexchangeratewillnotbecomeatargetbecausewhicheverwayitmoves,themechanismshouldstarttooperatequicklytorestoreequilibrium.Theimbalanceofacountry'sinternationalbalanceofpaymentscanbeeliminatedbyfreefluctuationofexchangerate.Governmentsdonothavetointroducemeasurestokeepthevalueatafixedrate,whichmightbeharmfultoothersectionsoftheeconomy.Becausethebalanceofpaymentsofeachcountrycanadjustbythemselves,whichensuresthestabilityofforeignexchangemarketinacertainextent.Disadvantages.Thefuturesmarketisdesignedtopreventthis.Bybuyingforwardforcommoditiesapriceisagreedwhichdoesnotchangewhenthecommodityisdelivered.Itcausesallcountries'instabilityofabilityofinternationalsettlementandcommodityprice.Demandmaybeunstablebecauseexternalpricesofdomesticgoodswillbesubjecttochange.Planningproductionmaybedifficult.TheinstabilityofexchangerateincreasestheriskofinternationaltradeIfthereisinflationafloatingexchangeratewillnotalwaysdealwithiteffectivelybecausethedepreciationofthecurrencyintheforeignexchangemarketswillmakeimportsdearerandassistpossiblecostpushinflation.Fixedexchangerate,sometimescalledapeggedexchangerate,isatypeof\o"Exchangerateregime"exchangerateregimewherea\o"Currency"currency'svalueisfixedagainsteitherthevalueofanothersinglecurrency,toa\o"Currencybasket"basketofothercurrencies,ortoanothermeasureofvalueAdvantages.Theyreduceuncertainty,thismakestradeandinvestmentsbetweenthetwocountrieseasierandmoreexternalandmorepredictableandisespeciallyusefulforsmalleconomiesinwhichexternaltradeformsalargepartoftheirGDP.Longtermgrantingofcredits,long-termcontractsandinvestmentoverseasareseentocarrylessrisk.Itmakesthecapacityoftheinternationalsettlementandthepriceofimportandexportgoodsbestable.ThefixedrateplayedacrucialroleinachievingthisgrowthinFDI.Thestabilityoftheexchangeratesuppressedthespeculationofforeignexchangemarkettoacertainextent.Disadvantages.Ifdeficitspersistthenreservesofforeigncurrencymaybeusedupquitequickly.Itleadstoreductionofexports,thedeficitofinternationalbalanceofpaymentsandmoreunstablethecurrency.Countrieswhichhaveapersistentdeficitorsurpluswillhavetotakesomeactionwhichmayhavesevereimpactsuponexportsandimportsorboth.Ifinflationoccurstheunderlyingcausewillneedtobetackled.Countriescannotrelyondevaluingthecurrencytogetridoftheproblem.Itweakenedtheautonomyofdomesticmonetarypolicy.11.EffectsoffixedrateandfloatingrateonindividualsandcompanyFloatingExchangeCompany.Floatingexchangeratesystemputforwardhigherrequirementsforcompany'smacro-economicmanagementcapacityanddevelopmentoffinancialmarket.Itincreasescompany’smanagementandoperationcost.Thecompanydirectlyproducesexchangeloss.Individuals.Inthefloatingexchangeratesystem,exchangeratetendtofluctuatesignificantly,whichisnotconducivetoindividualsinvestmentWithfloatingexchangerates,individualsmightspeculateinfinancialmarketsIndividualsarebeginningtorealizethechallengeofpriceadvantagerecessionandthenecessityofimprovingnonpricecompetitiveness.Theindividualsbegantorealizetheimportanceofmonetarysettlementtiming.Theindividualsbegantorealizetheimportanceofmonetarycurrencyselection.FixedExchangeCompany.Rigidexchangeratearrangementsmaybeconsideredimplicitexchangerateguarantee,soastoencouragecapitalinflowsintheshorttermandnohedgingofforeigndebt,damagingthecompany’shealthofthefinancialsystem.Fixedratemakesthecompany’sadjustmentofrelativepricebeeasierandsmoother.Itisbeneficialtoalong-termstabledevelopmentofcompany’seconomic.ItisdirectlygeneratetheexchangeratelossesIndividuals.ItIsconduciveforindividualstomakecostandprofitaccounting,whichavoidstheriskofexchangeratefluctuations.Iteasilyleadstocurrencyovervaluationandweakenthecompetitivenessoflocalexports,causingpersonalimbalancesoflong-termcurrent-account.Ithelpsindividualstoeliminatetheriskofexchangerateandreducethetransactioncostofinternationaltradeandinvestment.12.ThecharacteristicsofthenewlyindustrializedcountriesandthedevelopingcountriesNewlyindustrializedcountries’economicstructureespeciallyindustrialandagriculturalstructurechangessignificantly,andtheproportionofindustryislargerthanagriculture.Intotalexports,theproportionofmanufacturedgoodsincreased,gettingridofthesituationofahalfofthedevelopingcountriesdependingonprimaryproducts.Manyintermediateproductsandmachineryandequipmentrequiredforproductionisstillinthehandsofthedevelopedcountries.Insomeproductionofmanufacturedgoods,Brazilisonlydevelopedcountries’assemblyprocessingfactory.Duetotheintroductionofalargenumberofforeigncapital,Brazilhaslar