ECON1020 Lecture Notes - Lecture 12: Aggregate Demand, Equilibrium Point, Foreign Exchange Market
Document Summary
Acronym: bis: bank for international settlement, bop: balance of payment, ca: current account, fa: financial account, fdi: foreign direct investment, fpi: foreign portfolio investment, fx: foreign exchange (or forex, ka: capital account. In 2017, the us exported . 4b to and imported . 6b from china, resulting in a . 2b trade deficit with. The us imports consumer electronics, clothing and machinery from china. President trump wanted to cut the deficit by b. On 3 april 2018, the us unveiled plans to impose additional 25% tariffs on b worth of chinese imports. China immediately announced a retaliation plan to impose tariffs on the same amount of us products, focusing on agricultures. The us doubled down on china"s attack by declaring additional tariffs on b worth of chinese imports. Balance of payment: balance of payments (bop):the re(cid:272)ord of a (cid:272)ou(cid:374)try"s i(cid:374)ter(cid:374)atio(cid:374)al trade, (cid:271)orro(cid:449)i(cid:374)g, le(cid:374)di(cid:374)g, (cid:272)apital a(cid:374)d investment flows with other countries.
