Free Trade - Unit 9

To comply with the regulations, a rule, an order.

To carry out: a market survey, an inquiry, an investigation, tests.

To quote: a price

To break into : a market

To place an order

To meet : the delivery date, a deadline.

We are trying to break into the Japanese market.

You should carry out a market survey before you make a major investment.

If you would like to place an order, press one now.

If you can not meet the delivery date, let us know as soon as possible.

They have quoted us a very good price for the consignment.

Let us know if you want us to arrange insurance cover for shipment.

It is essential to comply all regulations if you want the delivery to go through without problems.

International Markets for labour, capital, goods, and services:

Provide opportunities for people to work or study abroad and improve their lives.

Increase competition and improve the choice of goods and services.

Create unemployment and lead to job looses in richer countries.

Reduce poverty and increase wealth everywhere.

Exploit workers in poor countries.

Widen the gap between poor and rich nations.

Mean lower cost and cheaper retail prices, which benefit consumers.

Give large multinational companies and trading blocks too much power.

Lead to damage to the natural environment, local cultures, and local industries.

Promote higher standards of living, working conditions, technology, education, etc.

Open markets = trade without restrictions on the movement of goods.

Open borders, free port, developing industries, laissez-faire, liberalise, deregulations, subsidise.

Protected markets = trade with restrictions on the movement of goods, for example import taxes:

Barriers, tariffs, restrictions, dumping, quotas, customs, subsidies, regulations, strategic industries,

Impacts of free trade:

Greater choice of goods.

Better-made products.

Lower taxes.

Better pa…

A wider choice of jobs.

Situation:

Companies compete freely.

There are a lot of government controls.

Companies must follow regulations.

Some countries do not practice free trade because they wish to:

Fight against unfair competition, for example dumping.

Protect their strategic industries, which are important to their economy.

Be less reliant on foreign-made goods because their own economies need developing.

Perhaps you could summarise the points you have made so far. Free trade means:

Without any controls and taxes.

Try to liberalise their trade.

Take away barriers to trade.

Remove things which stop people trading freely.

Open borders.

Few controls of goods at customs.

Tariffs = taxes on imported goods.

Subsidies = more money paid to domestic producers.

Quota= limit the quantity of a product which can be imported.

Restriction on trade = expensive licences for importers which add greatly costs.

Regulations = documents which company must have to export in certain countries can be very complicated and difficult to complete.

Free trade is always a good thing means it is beneficial to countries.

 

In order to protect our national steel industry, the government imposed a limited quota on steel imports.

Not long ago, the president of the world bank said that the US should lower or remove its tariffs against ethanol from Brazil.

The European commission has recently tabled proposals designed to dismantle the remaining barriers to cross-border trade in goods.

The most successful economies tend to have open markets, and most of their industries have been deregulated.

The us government tend to have a laissez-faire attitude to innovation, preferring to let private investors fund new technology, rather then the state.

Transport companies have to comply with strict regulations when carrying hazardous chemicals.

US officials were trying to determine whether Chinese paper was actually being dumped in the US at prices below fair market value.

We are in a fairly open market, so there are very few restrictions on the movement of goods.