BUS201 Lecture 11: WEEK 11 - The Political Economy of International Trade
15 Mar 2020
School
Department
Course
Professor
Document Summary
Week 11 the political economy of international trade. Describe the policy instruments used by governments to influence international trade and foreign direct investment. Evaluate the arguments for government intervention in international trade and foreign direct investment. Explain current international trade and foreign direct investment issues and describe how the world trade. Free trade occurs when governments do not attempt to restrict what citizens can buy from another country or what they can sell to another country. Any of the free trade agreements you look at governments attempt to restrict free trade. Free trade is mythical governments always intervene and certain industries are protected. Many nations are nominally committed to free trade, but intervene to protect the interests of politically important groups. All of these are represented by the australian government which have to be followed. Comparative advantage people should focus on things they"re best at, subsidies exist when businesses fail to successfully allocate their resources.
