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INTERNATIONAL TRADE THEORIES AND HOW THEY APPLY
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INTRODUCTION
International trade theories, like any other theories, make students scratch their heads at first glance. They have a hard time applying these classical theories to the real world. ... We want to know how these theories apply to us in our everyday lives. ... So, what better way to try to connect international business to the outside world than to look at the basics of international trade, the theories, and then apply them to modern phenomenon.
Country Similarity Theory
This theory, more or less, states that countries of similar size, culture, and other factors, are more likely to trade well with each other. ... Even though globalization has reared its head for the past few years, it just made trading easier for similar countries to trade; it has not broken barriers of trading to different countries all that much. ... The fact that the similarities of Malaysia and the Philippines are quite numerous helped the trade to push through. ... Sure the products might be surplus from the factories, but the theory holds true still, the more similar the countries, the better to trade with them…it just makes sense. ... Now, due to the complexities of modern trade, money, though plays a big role, is not everything. ... We believe that the theory of mercantilism of self sufficiency does not really apply nowadays.
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Paper Information
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Title: INTERNATIONAL TRADE THEORIES AND HOW THEY APPLY
Words: 1217
Rating: None
Pages: 4.9
submitted by: chiberman
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