IR 292: lecture 3/17
IR 292: lecture 3/17 IR 292
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This 0 page Class Notes was uploaded by Maritt Nowak on Tuesday March 22, 2016. The Class Notes belongs to IR 292 at Boston University taught by James Baldwin in Spring 2016. Since its upload, it has received 17 views. For similar materials see Fundamental International Economics in INTERNATIONAL RELATIONS at Boston University.
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Date Created: 03/22/16
IR 292 Thursday March 17 2016 Standards amp Trade cont d Evidence on Low Standards as a Predatory Practice Low standards are generally ineffective when it comes to enhancing competitiveness and attracting foreign investment countries can t simultaneously capture markets and attract foreign investment trade surplus needs capital outflows not inflows not much evidence that low labor standards obtain comparative advantage Trade and the Environment Trade and Environmental Impacts that do not Cross Borders proponents of trade barriers enforce environmental standards say without adequate enforcement of standards there s an environmental race to the bottom lack of enforcement in developing countries encourages rich countries industries to export pollution pollution havens Trade and Transboundary Environmental Problems transboundary environmental impacts happen when a country s pollution spills over into another EX a shared watershed polluted by an upstream user or industrial production in one country can create acid rain in another transboundary environmental impacts occur when similar activities in many countries lead to global impacts like global warming and ozone depletion Alternatives to Trade Measures enforcing sanctions labels for exports home country standards increased international negotiations Labels for Exports labeling certification process that produces a label attached on exported goods to show consumers that goods were produced under humane and environmentally sound conditions already in place in some instances problems sovereignty infringement consumers have to believe the label Increasing International Negotiations using existing international organizations or creating new agreements and organizations ILO can publish a list of countries who don t comply with standards WTO is not environmental but it allows international environmental agreements to be enforced Chapter 9 Trade and the Balance of Payments The Current Account movements of goods and services in and out of the country trade balance measures difference between exports and imports of goods and services trade deficit negative trade balance trade surplus positive merchandise trade balance US Current Account Balance large deficits began around 1982 and have remained constant the second in the early 90s current account deficit is not a sign of weakness in the short run the economic boom of the 90s increased the demand for imports while sluggish growth abroad limited export expansion the US deficit is not sustainable in the long term Introduction to the Financial and Capital Accounts capital account record of transfers of specific types of capital debt forgiveness personal assets brought by migrants from abroad transfer of real estate and other fixed assets military bases embassies both accounts are flows net measurements
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