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The Evolution of International Trade: From Self-Sufficiency to Global Interdependence

This chapter explores the concept of self-sufficiency, wherein countries provide for their basic needs without external reliance. It delves into the historical origins of trade and the motivations behind it, including technological advancements and transportation development. By examining case studies like the Amish and trade regulations from 476 to 1500 CE, we highlight the emergence of interdependence and its implications. The chapter also discusses the advantages and disadvantages of international trade, including barriers and the impact of currency fluctuations on businesses.

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The Evolution of International Trade: From Self-Sufficiency to Global Interdependence

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Presentation Transcript

  1. International Business

  2. Chapter One International Interdependence

  3. Self-sufficiency • The ability to provide for all of your basic needs, such as food, clothing, shelter, and water, without relying on anyone else. • A country is self-sufficient when it provides everything its population needs to survive without having to trade with other countries. • Why did nations trade then?

  4. The beginnings of trade • awareness of other goods • areas were more technologically developed • development of transportation

  5. Why trade? • providing food became easier • more options for earnings • longer and healthier lives • variety of food, crafts, materials, and technology

  6. Still Self-sufficient? • Amish • Mennonites • Communes- shared responsibility for food production, education, child care, etc.

  7. First Trade Regulations • local rulers in Europe collected taxes and tithes to maintain authority and lifestyle and finance wars (476 to 1000 C.E.) • guilds controlled the mfging and sales of goods within towns and disallowed competitive imports and/or imposed import duties (1000 to 1500 C.E.)

  8. Interdependence • The reliance of two or more groups on the actions of one another to fulfill certain wants or needs

  9. Interdependence begins • See video (21 min) - “The Fur Trade and the Opening of Canada” • Note key dates and point form key events, people, nations • U.S. trade was more diversified into S.A. and was dependent on sugar • Fur trade in Canada - HBC and North West Co.

  10. 1840s - silk replaces fur • 1867 Canada becomes a nation • Canadian Pacific Rail (CPR) completed in 1885 • post WWII - trade organizations

  11. Northern American Free Trade Agreement (NAFTA) • 1993 Canada signed • Eliminates all tariff barriers between Canada and US • Advantages • Disadvantages

  12. Canada’s Economic Identity

  13. Canada’s Major Industries • Primary Industries • Manufacturing • Services

  14. Primary Resources • Agriculture • Fishing and Trapping • Forestry and Logging • Energy and mining

  15. Service Industries • Commercial Services • Travel • Transportation • Government

  16. Advantages of International Trade

  17. Disadvantages of International Trade

  18. Barriers to International Trade • Tariffs • Currency fluctuations • Investment regulations • Environmental restrictions • Foreign relations and trade sanctions • Safety regulations

  19. Currency Fluctuations • Which is better for business, a strong dollar or a weak dollar? • Read article, “The Canadian Dollar”

  20. Business And The Environment: The Story of Electronics http://www.storyofstuff.org/movies-all/story-of-electronics/

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