Your papers on APPL, BA & F

1. Your papers on APPL, BA & F

2. Watch outs.... • A company is an “it” not a “they” • “Boeing generates its international sales in Burundi and East Timor.”

3. Watch outs.... • A company is an “it” not a “they” • “Boeing generates its international sales in Burundi and East Timor.” • “$200 billion” not “two hundred billion dollars” or “200 billion dollars”

4. Watch outs.... • A company is an “it” not a “they” • “Boeing generates its international sales in Burundi and East Timor.” • “$200 billion” not “two hundred billion dollars” or “200 billion dollars” • Two adjectives before a noun gets a hyphen (usually)

5. Watch outs.... • A company is an “it” not a “they” • “Boeing generates its international sales in Burundi and East Timor.” • “$200 billion” not “two hundred billion dollars” or “200 billion dollars” • Two adjectives before a noun gets a hyphen (usually) • “Apple’s research-savvy team generates new products.”

6. One more watch out • It’s = it is • “Its” is possessive • “Apple generates its sales via the internet.” • “It’s possible for Apple to continue growing.”

8. So why does public not support international trade?

9. So why does public not support international trade? • Our old friends trade fallacies

10. So why does public not support international trade? • Our old friends trade fallacies • Protectionism in Europe estimated to cost $215,000 per year per job

11. So why does public not support international trade? • Our old friends trade fallacies • Protectionism in Europe estimated to cost $215,000 per year per job • “the costs are not simply their salaries, but the even larger costs of producing in less efficient ways, using up scarce resources that would be more productive elsewhere”

12. Why is “globalization” a naughty word?

13. Why is “globalization” a naughty word? • Anti-globalization critics see international trade as destroying nations, the environment, small farms, etc. • International trade is just extension of specialization that marks every modern economy

14. Why is “globalization” a naughty word? • Anti-globalization critics see international trade as destroying nations, the environment, small farms, etc. • International trade is just extension of specialization that marks every modern economy • Why don’t we make our own socks and jeans?

15. Why is “globalization” a naughty word? • Anti-globalization critics see international trade as destroying nations, the environment, small farms, etc. • International trade is just extension of specialization that marks every modern economy • Why don’t we make our own socks and jeans? • We’re better off buying them from Vietnam and concentrating on software and lattes

16. Good summary of international trade: • International trade is not a zero-sum contest, but wide array of voluntary transactions between individuals living in different countries who all must gain... another way getting more out of SRTHAU

17. Trade to GDP ratio • Total of imports & exports as a percent of GDP

18. Trade to GDP ratio • Total of imports & exports as a percent of GDP • China: 58%

19. Trade to GDP ratio • Total of imports & exports as a percent of GDP • China: 58% • U.S.:27.6%

20. Trade to GDP ratio • Total of imports & exports as a percent of GDP • China: 58% • U.S.:27.6% • U.S. is world’s leading importer, #3 exporter and #1 in commercial services

21. so what do you need to know for next week’s test?

22. so what do you need to know for next week’s test? • Zero sum thinking

23. so what do you need to know for next week’s test? • Zero sum thinking • Examples of “loaded” language such as “favorable trade balance,” “globalization,” “record trade deficit”

24. so what do you need to know for next week’s test? • Zero sum thinking • Examples of “loaded” language such as “favorable trade balance,” “globalization,” “record trade deficit” • How can both sides gain in international trade?

25. so what do you need to know for next week’s test? • Zero sum thinking • Examples of “loaded” language such as “favorable trade balance,” “globalization,” “record trade deficit” • How can both sides gain in international trade? • The three advantages: absolute, comparative and economies of scale

26. next week’s test • Know your trade fallacies

27. next week’s test • Know your trade fallacies • Low-wage and high-wage countries can’t trade

28. next week’s test • Know your trade fallacies • Low-wage and high-wage countries can’t trade • Need restrictions to ‘save jobs’

29. next week’s test • Know your trade fallacies • Low-wage and high-wage countries can’t trade • Need restrictions to ‘save jobs’: study Hawley-Smoot

30. next week’s test • Know your trade fallacies • Low-wage and high-wage countries can’t trade • Need restrictions to ‘save jobs’: study Hawley-Smoot • Protect infant industries

31. next week’s test • Know your trade fallacies • Low-wage and high-wage countries can’t trade • Need restrictions to ‘save jobs’: study Hawley-Smoot • Protect infant industries • Industry needed for national defense

32. next week’s test • Know your trade fallacies • Low-wage and high-wage countries can’t trade • Need restrictions to ‘save jobs’: study Hawley-Smoot • Protect infant industries • Industry needed for national defense • Stop ‘dumping’ of good into our country

33. next week’s test • Types of trade restrictions: tariffs, import quotas, red tape

34. next week’s test • Types of trade restrictions: tariffs, import quotas, red tape • How does wealth move between nations

35. next week’s test • Types of trade restrictions: tariffs, import quotas, red tape • How does wealth move between nations • I Design Big Refrigerators in France

36. next week’s test • Types of trade restrictions: tariffs, import quotas, red tape • How does wealth move between nations • I Design Big Refrigerators in France • Investments, Deposits, Bonds, Remittances, Imperialism, Foreign aid

37. next week’s test • Types of trade restrictions: tariffs, import quotas, red tape • How does wealth move between nations • I Design Big Refrigerators in France • Investments, Deposits, Bonds, Remittances, Imperialism, Foreign aid • IMG and World Bank

38. next week’s test • Types of trade restrictions: tariffs, import quotas, red tape • How does wealth move between nations • I Design Big Refrigerators in France • Investments, Deposits, Bonds, Remittances, Imperialism, Foreign aid • IMG and World Bank • Emigrants and immigrants

39. next week’s test • Types of trade restrictions: tariffs, import quotas, red tape • How does wealth move between nations • I Design Big Refrigerators in France • Investments, Deposits, Bonds, Remittances, Imperialism, Foreign aid • IMG and World Bank • Emigrants and immigrants • WSJ story: “We’ve become a nation of takers”