Trade restrictions refer to government imposed quotas, tariffs or barriers designed to control specific aspects of its economy. The objective of this paper to discuss the advantages and limitations of international trade, highlight four key points in the simulation as they relate to assigned reading, and apply the simulation to the workplace.
Finally in January ofpolicy makers in Rodamia are leaning toward lowering trade barriers and negotiating free trade agreements FTA with one or more neighboring countries. This agreement between the two countries lowered trade barriers, increased trade volumes, encourages producers to explore different markets and opens up a wider range of products to consumers.
Advantages and Limitations of International Trade In January of the simulation, the President has asked the Trade Representative to determine whether or not there are trade opportunities with neighboring countries, and if so, determine the composition of said trades.
In the simulation Rodamia enters a free trade agreement with Alfazia. If a tariff is to be imposed, the President needs to know at what level the tariff will be imposed. No recommendation for trade with Alfazia is made at this time.
This disadvantage of entering into such an agreement is that countries outside of the FTA will not be able to complete due to higher tariffs.
As a Trade Representative of Rodamia, one will evaluate what products need to be produced in the country and what products should be imported or exported.
Governments practice free trade policies make a concerted effort not ton interfere with international trade efforts through imposing of tariffs, import quotas and currency restrictions. In reply, the Trade Representative decides not to levy a tariff, as this decision will be to the benefit of both Uthania and Alfazia.
Further, the Trade Representative will determine when to impose trade restrictions and negotiate trade agreements.
The disadvantage of this decision is that the domestic corn industry is left open to be damaged by cheaper imports. Further, these countries will not be inclined to impose tariffs on cheese imported from Rodamia.Read International Trade: Rodamia free essay and over 88, other research documents.
International Trade: Rodamia. Week FourвЂ™s International Trade Simulation is set in the country of Rodamia.
As a Trade Representative of Rodamia.
HOME Free Essays International Trade Simulation. International Trade Simulation Essay. B. Pages:6 Words Rodamia International Trade Advantages and LimitationsOne major advantage of international trade, as pointed out in the simulation, is that by importing certain goods that a country does not have an advantage over.
Week Four’s International Trade Simulation is set in the country of Rodamia. As a Trade Representative of Rodamia, one will evaluate what products need to be produced in the country and what products should be imported or exported.
International Trade Simulation Essays: OverInternational Trade Simulation Essays, International Trade Simulation Term Papers, International Trade Simulation Research Paper, Book Reports.
ESSAYS, term and research papers available for UNLIMITED access Government of Rodamia This paper is concern International trade. In this international trade simulation, I have been assigned the role of Chief Trade Advisor to the President of Rodamia.
In this position, I am tasked with developing and coordinating international trade, investment policies, and lead the negotiations with other countries surrounding Rodamia.
International Trade Simulation and Report The advantage of international trade is countries with certain quantity, quality, and efficient production of goods and services can maximize their country’s wealth.
Developing country’s increase sales and revenue through production expansion.Download