...International Trade and Finance Speech ECO 372 April 24, 2012 Kevin McKinley Executive Summary The purpose of this paper is to prepare a speech that will be provided to a number of reporters that are not well versed with economics. In this paper I will put emphasis on international trade and foreign exchange rates and how those affect the GDP, domestic markets, and students. I will also outline some of the benefits on goods and services that are imported from other countries and how those contribute to our economy in the United States. International Trade to GDP In order to understand international trade it is important to recognize what the effects of international trade have on the GDP, domestic markets and university students. International trade is essentially when two or more countries exchange goods and services. Many countries export their goods and services to other countries and in turn may also import goods and services from other countries into their own. There have been exceptional achievements with technology, which have made it much easier to trade on an international level. The communication, as a result of these technology advancements, has improved exponentially and it has truly simplified this process. With that being said it can be confirmed that international trade has a profound effect on the GDP, domestic markets and even university students like me. There are many countries that are rich in technology, like China and Japan, and others...
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...INTERNATIONAL TRADE & FINANCE SPEECH 1 International Trade & Finance Speech Jose L. Sandoval Jr. ECO/372 September 30, 2013 Howard Blitz INTERNATIONAL TRADE & FINANCE SPEECH 2 International Trade & Finance Speech Good evening Ladies and gentlemen of the press; this evening I will define what economics is and when there is a surplus of imports brought into the U.S, The effects of international trade to Gross Domestic Product (GDP), domestic markets and university students, Government choices in regards to tariffs and quotas affect international relations and trade, What are foreign exchange rates, How are they determined, Why doesn’t the U.S. simply restrict all goods coming in from China, and final Why can’t the U.S. just minimize the amount of imports coming in from all other countries. The economics is the study of how people choose to use resources. Resources are considered as time and talent people have available, the land, buildings, equipment, and other tools on hand, and the knowledge of how to gather them to create useful products and services. The choices that are more important are how much time to devote to work, to school, and time to relax or spend with family. Also what are important are how many money to spend and how much to save, how to put together resources to produce goods and services, and how to vote and shape the level of taxes and the role of government. When a surplus of imports brought into the United State the surplus and deficit in the...
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...International Trade and Finance Speech 1 Name ECO/372 Date Instructor Name International Trade and Finance Speech 2 People often ask what happens when there is a surplus of imports brought into the U.S. Many think that we just have more of what we brought in to be able to hang on to and sell at a later date but that is not the case. When there is a surplus of the products that have been brought in then the price of what the surplus is will drop. Unlike when there just isn’t enough for the demand for the product then the price will raise. The reason that the price will drop is due to the products already have been paid for and now they are storing the products which cost money. When the price is dropped then this allows for the product to be moved quickly and make room for more product and different kind of product. By doing this the price will go up or down on the products based on the supply and the demand for the product. For example in car sales if they cut 10,000 off the price of a car that is 50,000 does it make much sence to sell it at 40,000 if they could get 50,000 out of it. They do this to be able to move the product and get new ones in. The effects of international trade to GDP, domestic markets and university students have a great affect on the GDP. The U.S. is one of the largest contributors to the international trade and our GDP is overwhelmingly impacted due to the huge import consumers. The U.S. relys heavily on products from other countries...
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...International Trade and Finance Speech James DeBose ECO/372 January 17, 2013 Professor Pretzsch International Trade and Finance Speech This speech will discuss several topics concerning international trade and finance. The first topic of discussion will explain what happens when there is a surplus of imports brought into the United States, and the specific example used will be China trade surplus as it jumped in July 2012. China exports to the United States rose 13.6% to $165.3 billion and their exports to Europe fell 0.8%. The increase in the surplus of imports causes businesses to have more products to offer consumers, lower the prices of the products, and leads to consumers purchasing more products. Purchasing more products increases the revenue for businesses, and causes major movement of money. The next topic that will be discussed is the effects of international trade to GDP, domestic markets, and university students. International Trade helps our government and markets earn income from foreign countries. International Trade affects university students by offering school supplies such as computers more affordable because they are made and sold at a cheaper rate. University students are able to achieve a higher education when the school supplies are produced in a domestic market where the college student resides, and leaves the student more money for tuition. A government choice on tariffs and quotas has different affects on international relations and trade....
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...ECO/372 Week5 December 1st, 2013 Eduardo V. Delacruz, MBA International Trade and Finance Speech What happens when there is a surplus of imports into the U S? A surplus of imports is good for consumers but bad for local business. We have to produce and manufacture in order to export. As our export trade shrinks, so does our workforce and economy. The surplus of imported cars for 2012 has exceeded the exportation by $152 billion. Also the shelf life of cars is 1 year. Every year at the end of the cycle the existing models are sold off at huge discounts to make room for the new models, which is good for the consumer. What are the effects of international trade to GDP, domestic markets, and university students? International trade comprises exports and imports, the net result of which affects our GDP. Since our imports exceed our exports, our GDP would be impacted by our net exports or deficits. “The rippling effect of financing deficits is an increase in interest rates from selling bonds that reduces investments and growth. This further reduces GDP” (Colander. 2010). Domestic markets flourish when there is a demand for local products overseas. If the domestic markets have to compete with imported products it could be a struggle. However jobs can be created for the advertising, sales, and distribution of foreign imports. The effect of international trade on university students has recently brought about an awareness of a vibrant industry in the education...
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...Trade and Finance Speech ECO 372 Trade and Finance Speech Welcome, as the Speaker of the House it is my duty and honor to inform you of the current state of our country’s macro-economy. The proceeding will cover when there is a surplus of imports brought into the U.S. and its impact is has on the U.S. businesses and consumers involved. How government choices regarding tariffs and quotas affect international relations and trade. Foreign exchange rates, and how are they determined. Finally, import policy and procedure. When there is a surplus of imports brought into the United States the local economy suffers because the price of imports are lower and compete with the local brand. For example, the Chinese auto part industry has received heavy subsidies for doing business in the United States; as a result have increased their imports to our country. The heavy surplus has caused a major offset in the price of imports in comparison to domestic parts. As a result, American dollars are still going overseas instead of remaining on domestic soil. The automobile business is on an upswing but still cannot recoup the 400,000 jobs lost as a result of this recession. Instead it only has recouped approximately 60,000 out of the 29.1 percent sales increase. The local economy suffers and takes longer to stabilize because of the amount of money leaving the country (Economic Policy Institute, 2012.) The GDP is the formula for gross domestic product is the total market value of...
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...International Trade and Finance Speech ECO/372 Abstract The enclosed paper is a speech written by myself under the assumption that I have been appointed Speaker of the House and I must deliver a speech about the current state of the United States macroeconomy to amateur reports who are not familiar with economics. As many of you may know, the current state of the United States economy is recovering from a recession. Macroeconomic forces such as interest rates, exchange rates, trade deficits, inflation, and gross domestic products are factors that continue to influence a company’s bottom line and these factors can cause business to be more difficult. International trade and financing play an important role in the growth and continued success of our economy. What happens when there is a surplus of imports brought into the U.S.? Cite a specific example of a product with an import surplus, and the impact that has on the US businesses and consumers involved. When we experience a surplus of imports brought into the United States, local businesses suffer. Sure consumers are happy about the surplus since the product prices will decrease, but this will cause an immediate need for our country to produce more exports to help compensate for the loss. The surplus of imported cars in 2012 exceeded exportation amounts by over $151 billion. Cars only carry a shelf life of one year since new models...
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...International Trade and Finance Speech ECO/372 International Trade and Finance Speech Macroeconomics consists of the large scale economic factors such as interest rates and national productivity. International trade, finance and exchange rates are a large part of this study. Today, we will dive into the basic definitions and descriptions of simple terms and concepts as they relate to macroeconomics. “The trade balance is the difference between a country’s exports and imports” (Colander, 2010). When a country is exporting more than they are importing a surplus is created, so there is more production than consumption. The opposite is true for a trade deficit. A country that imports more than it exports is running in a deficit; consumption is more than production. An example of a product in the United States with a surplus is oil. Seven years ago the U.S. imported about two-thirds of their oil consumption. By 2014 it is expected that the U.S. will only import 6 billion barrels of crude oil per day; this is about one-third of what the country uses and by 2020 U.S. oil production will exceed Saudi Arabia’s (Phillips, 2010). The problem is that the oil produced in the U.S. is high-quality crude and the oil imported is heavy, sour oil. Since the refineries are currently equipped to refine the heavier oil the U.S. has a surplus of the high-quality crude. One would expect lower oil prices with the surplus, but as the current gas prices reflect this is not the case. While the process...
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...School of Business ------------------------------------------------- Syllabus ECO/372 Version 4 Principles of Macroeconomics Whenever there is any question including about what assignments are due, please remember this syllabus is considered the ruling document. Group Number: GA11BSB08 Course Start Date: 07/17/2012 Course End Date: 08/14/20112 Course Schedule: Workshop 1 – July 17, 2012 Workshop 2 – July 24, 2012 Workshop 3 – July 31, 2012 Workshop 4 – Aug. 7, 2012 Workshop 5 – Aug. 14, 2012 FACILITATOR: Farooq A. Khan COURSE LOCATION, DAY AND TIME: Gardena Learning Center, Tuesday @ 6PM REQUIRED READING: Students are required to read all materials available at the Course Materials site for this course on https://ecampus.phoenix.edu/portal/portal/public/login.aspx | Course Syllabus School of Business ECO/372 Version 4 Principles of Macroeconomics | Copyright © 2012, 2008, 2007, 2006 by University of Phoenix. All rights reserved. Course Description This course provides students with the basic theories, concepts, terminology, and uses of macroeconomics. Students learn practical applications for macroeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies:...
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...International Trade and Finance Speech ECO 372 DO NOT Plagiarize this is simple for guidence International Trade and Finance Speech In the United States international trade is an important aspect when it comes to our nation’s economy. Over the years the nation’s economic responsibility has changed from being creditors to debtors. With this change it has affected the layout of our global economy and with the advancement of our technology it has enhanced the amount of trade done between countries all over the world. With the abundance of goods imported into the United States it has provided us with a surplus. Surplus is typically used to aid in slowing down the economy and balancing out the deficits. When surplus of imports are brought into the United States a deficit is created due the balancing of the trade. According to "United States International Trade Commission" (n.d.), there are three foreign imports that entered into the United States over the years and they are electronic products, transportation equipment and energy-related products. From 2011 to 2013 these three imports from foreign countries have steadily increased. Out of the three imports two of them have been beneficial when there was a change in the economy. During a time period, we had issues within the housing market and agencies were losing money because consumers were unable to afford their mortgages. When it comes to the Gross Domestic Products (GDP) the international...
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...International Trade and Finance Speech ECO/372 September 23, 2013 International Trade and Finance Speech According to (Colander, 2010, p. 505) a surplus means when a country “produces more than what it consumes.” “Countries that enjoy a trade surplus have more money flowing in than out. This includes both money for the products the country exports and the money spent by foreign visitors” (Wisegeek, 2013, p. 1). The effect of trade surplus in a nation indicates it has more control over its own currency. In some ways the United States and Japan are major competitors in the market of international trade (Encyclopedia of Nations, 2013). Each, country produces many of the same goods, for example Toshiba’s major competitor in personal computers is Dell (Dell computer corporation, 1997). Toshiba is a product Japan imports to the United States. A surplus would be created, depending on the current interest and exchange rate in the United States. After the emergence of the World Trade Organization, and according to their site (WTO, 2013) is designed to “deal with the global rules of trade between nations. Its main function is to ensure that trade flows smoothly, predictably, and as freely as possible.” From inception the volume of international trade has increased and participating countries actively trade to push their product. The intent of this speech will be to explain what happens during a surplus of imports into the United States, the effects of international trade to gross...
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...International Trade and Finance Speech Name ECO/372 Date Professor International Trade and Finance The current state of the U.S. economy is improving according to recent numbers that reflect a decrease in unemployment, coupled with an increase in both interest rates and GDP. All three factors are primary indicators in determining the wellbeing of an economy. The economy probably will never reach the numbers that we are accustom (pre 2008) in which real income is always on the rise, employment is below 5% and real GDP increases 4% each quarter. Unfortunately, we as Americans might have to get use to a new normal. The new normal is more of a reflection on our economic dependence on the global economy. The U.S economy is like any other major power whereas our growth will be somewhat dependent on the ability for other countries to afford our exports. While the U.S. is currently experiencing a growth in our economy, the same cannot be said for most of the world. In particular, the countries that we export a high number of goods and services are experiencing a slower recovery. Countries like Europe, who is our largest exporter, don’t have the revenue to match are current spending power. This will result in a budget deficit with a surplus in imports and a reduction in exports. When you have a higher budget with less revenue coming in then the amount going out, there will be a debt. This is bad for business because it will lead to higher unemployment. The automobile industry...
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...International Trade and Finance Speech By: Lauren Peters February 27, 2014 ECO/372 Hello every one today we will be discussing the United States macro economy. I will go into some detailed avenues helping to break down and explain everything into laymen’s terms. I hope from today’s interview you are able to get the information you need for your article. I am going to be discussing the government’s surplus of imports, international trades and affecting the GDP along with domestic markets, and university students, Government choices on tariffs, and quotas, foreign exchange rates, and why we don’t restrict goods imported from China. I will break down into answering and addressing each of these issues, and question that you all are wondering and having questions about. You probably are all wondering what happens when there is a surplus of imports brought into the United States? When we have surplus and a deficit within the economic trading community, it must maintain a balance. When an import surplus happens this creates a trade deficit. This means that the country is consuming more than it produces and exports. Since we are discussing our economy the United States has issues of consuming certain products than what it does in exports. For Example we have a high demand for gasoline within our country. This opens us up to inflation on gasoline prices, and price gouging due to the high demand and consumption of gasoline within this country. Since this type of product is imported...
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...International Trade Speech ECO/372 April 27, 2015 International Trade Speech When you think about trade or precisely international trade, what do you see? Is it a group of people meeting out on a boat in the middle of the ocean trading scarves for leather? Is it maybe business conducted on an airplane somewhere between two countries and the plane doesn't land until an agreement is reached? Things like this people might wonder about when looking into international trade. What is it really? How does it happen? What is the cost? Why is it that the United States (U.S.) does not trade with some of the biggest countries? Tariffs and Quotas For every action or policy that a government makes, there is a reaction or result. The government is responsible for setting policies on foreign trade that directly affects international relations. Some of these decisions have a positive effect while others result in a negative feeling. Tariffs and quotas are some of the tools that the government uses to control international relations and trade. Tariffs are a fee in the form of a tax on foreign goods that the government charges the importer (Colander, 2013). This allows goods to come into the country but raises the price of those goods slightly. Quotas are another choice that the government can enforce that affects international relations and trade. Quotas are a limit placed on the quantity of imports coming into the country (Colander, 2013). Both quotas and tariffs are used to control...
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...International Trade and Finance Speech ECO/372 July 15, 2013 The current state of the U.S. macro economy is made up of a plethora of highly involved processes. I am going to attempt to explain some simple terms and concepts focused on international trade and foreign exchange rates. Foreign Exchange Rates One needs to have a base level understanding of what defines an exchange rate. According to Investopedia, a foreign exchange rate is “The price of one country's currency expressed in another country's currency. In other words, the rate at which one currency can be exchanged for another.”(Investopedia, 2012) The process by which foreign exchange rates are determined is really not any different than any other market function. The supply and demand for different goods determine what their prices are. In this case, substitute currencies for goods. Let us take the case of one foreign currency to understand how this market works. The dollar-rupee exchange rates will depend on how the demand-supply balance moves. When the demand for dollars in India rises and supply does not rise correspondingly, each dollar will cost more rupees to buy. A foreign exchange rate understanding will help one to comprehend how trade between the US and foreign countries affects the GDP. International Trade and GDP First of all, Gross Domestic Product (GDP) is the representation of the total dollar value of...
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