International Trade: The Basics (Paperback) book cover

International Trade

The Basics

By Jessie Poon, David L. Rigby

© 2017 – Routledge

198 pages | 19 B/W Illus.

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pub: 2017-03-08
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Description

Trade impacts on the lives of all global citizens, influencing the range of commodities available for consumption and where those commodities are produced. Driven increasingly by market exchange, trade shapes the nature of work and how the costs and benefits of that work are distributed around the world. Economic growth and development are closely associated with the flows of goods and services between countries. International Trade: The Basics offers an accessible and engaging introduction to contemporary debates on international trade, inviting readers to explore the connections between national political economies within a globally integrated world.

Topics covered include:

  • Why nations trade
  • Globalization and transnational production networks
  • Transnational governance
  • The emergence of Asia as a major trade region
  • Ethical trade and environmental sustainability
  • Trade in solar energy, services and ideas.

Featuring case studies and social media links that help to illustrate key concepts, this book is an essential read for anyone seeking to understand how trade varies between regions, affects relationships between countries and influences a country’s social, political and economic life.

Table of Contents

List of figures

List of tables

List of boxes

1 Introduction

The growth of trade

History of trade

Globalization and contemporary trade patterns

Objective of the book

Outline of the book

2 Trade theory

Comparative advantage

The Heckscher–Ohlin model

The Stolper–Samuelson theorem

Leontieff’s Paradox

Terms of trade

New trade theory: economies of scale and imperfect competition in trade models

New, new trade theory: global outsourcing

3 Transnational corporations, trade and the global economy

Origins of TNCs and why firms internationalize

The growth of transnational corporations

Global production networks and commodity value chains

Capturing value in global production networks

TNCs and trade

4 Trade governance

Institutional theories

GATT and WTO

Geography of trade: integration and regional trade agreements

Is geography destiny? Regionalism and regional economic integration

5 Trade and development

Dynamic comparative advantage

Unequal exchange

Import-substitution and export promotion

Asian flying geese

6 Impact of trade

Special economic zones

Impact on labor

Trade and labor standards

Trade, jobs and wages

Ethical trade

Environment and sustainability

Environmental policy and trade agreements

7 Conclusion

Trends and directions

Glossary

Bibliography

Index

About the Authors

Jessie Poon is Professor of Geography at the University of Buffalo-SUNY, USA. Her research interests are in the trade and investment activities of multinational firms. She has published over eighty articles and is editor of Environment and Planning A.

David L. Rigby is Professor of Geography at UCLA, USA with research interests in international trade, evolutionary economic geography, technological change and regional economic growth.

About the Series

The Basics

The Basics is a highly successful series of accessible guidebooks which provide an overview of the fundamental principles of a subject area in a jargon-free and undaunting format.

Intended for students approaching a subject for the first time, the books both introduce the essentials of a subject and provide an ideal springboard for further study. With over 50 titles spanning subjects from Artificial Intelligence to Women’s Studies, The Basics are an ideal starting point for students seeking to understand a subject area.

Each text comes with recommendations for further study and gradually introduces the complexities and nuances within a subject.

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General