trade

Question 1

India case study:current trading patterns of India

Answer 1

Main merchandise exports are refined petroleum, jewellery and clothing. Imports are crude oil (34%) gold and silver.

Question 2

CS: changes in international trade patterns over time

Answer 2

1900s- adopted trade policy - high tariffs on imports and restrictions on foreign investment to protect industries.
-since then- making strong relationships with trade partners, now one of worlds largest exporters of merchandise,service and capital.
Changes in economy- shift in sector contribution to gdp, India then doubled global share of merchandise exports.

Question 3

CS- economic, social and environmental in interdependence with partners

Answer 3

India and china relationship- contributed to growing gdp, employment opportunities and raising of income. China was India’s biggest trade partner 2019/20 the value of India’s merchandise exports to china was $18.8 billion. There are over 100 Chinese companies in India and 165 Indian firms in china.
Interdependence- 2 governments have common goals of improving living standard. Boarder conflicts are being stabilised by trade relationships.
Environment- deforestation in Himalayas and water supply conflict but china now help India with flood season data and emergency flood management. China and India signed climate change treaty. India and UK have become closer as UK wants the business links.

Question 4

Impacts of trade in India

Answer 4

• impacts can be seen from local multiplier effects or large scale impacts on industry’s.
  -growth in large ports around India for example ford, tractor and farm equipment ltd, use shipping from the port , industries are attracted to this contributing to gdp and economic multiplier effect.
  -India’s success, the growth in India’s share of global trade and development of trade partnerships driven by government policies like creation of open markets and investment in education.

Question 5

How is international trad e measures

Answer 5

Measured by National statistics for merchandise , services and capital, regulated on a global scale world trade organisation .

Question 6

Contemporary patterns of international trade

Answer 6

Dominated by advanced and emerging economies which have the wealth to reinforce their position. The least developed countries have limited access to global markets. E.g europe = 6301 billion dollars exported goods in 2020 whereas africa = 379

Question 7

Merchandise

Answer 7

All inward and outward movement of goods through a country . Uneven pattern = europe = 6301 billion dollars worth of merchandise e whereas africa = 301
Catahories = primary(argeiculture mining and fuels)
and secondary products(manufactured iron and steel)
Inequalities africa vs europe

Question 8

services global pattern

Answer 8

The growth of outsourcing made pattern more complex, and increase of connectivity of global supply chains.
Services include , transport, communications construction and insurance,
Dominated by advanced economies, europe, and less developed countries tend to be the importers , Africa.

Question 9

Capital

Answer 9

Flows of capital are the result of our aging and Sara of assets. Real assets include physical items traded e.g real estate. Or financial assets e.g stocks.
Most of these flows are between small numbers of advanced economies but slowly Integrating low income developing countries.
FDI -