Author : Ida M. Conway
Publisher :
ISBN 13 :
Total Pages : 382 pages
Book Rating : 4.:/5 (318 download)
Book Synopsis Trade Barriers in Asia and Oceania by : Ida M. Conway
Download or read book Trade Barriers in Asia and Oceania written by Ida M. Conway and published by . This book was released on 2007 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: A trade barrier is a general term that describes any government policy or regulation that restricts international trade. The barriers can take many forms, including: Import duties, Import licenses, Export licenses, Import quotas, Tariffs, Subsidies. Non-tariff barriers to trade, Voluntary Export Restraints, and Local Content Requirements. Most trade barriers work on the same principle: the imposition of some sort of cost on trade that raises the price of the traded products. If two or more nations repeatedly use trade barriers against each other, then a trade war results. Economists generally agree that trade barriers are detrimental and decrease overall economic efficiency, this can be explained by the theory of comparative advantage. In theory, free trade involves the removal of all such barriers, except perhaps those considered necessary for health or national security. In practice, however, even those countries promoting free trade heavily subsidise certain industries, such as agriculture and steel.