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The world economics report

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The world economics report
Content Page Abstract 1
1. Introduction: 2
2. International Trade 2 2.1 Free trade 2 2.2 Absolute and comparative advantage 3 2.3 Three gains from trading internationally: 3 2.4 Protectionism and barriers to trade 4 2.5 WTO 5 2.6 Trade blocs 7
3. International Finance 8 3.1 UK balance of payments 8 3.2 Trends in UK trade 16 3.3 Sterling prices and the balance of trade 18
3.4 Exchange rate regime 19
3.3 Effects of exchange rate regime 20
4. International investment 21
4.1 LDCs 21
4.3 Issues facing LDCs 21
4.4 Impact of transnational firms 22
5. Conclusion 22
6. References: 22
Abstract
The report is about world economics which related to free trade, international trade and some organizations such as EU, WTO, MNCs, LDC, etc. In the form of an overall view of world economic development to make some explanation and analysis. Besides, the report selects which topic and categories will be included in world economics, which help more members to draw attention to international trade and economic globalization trend. Without doubt, with regard to the general trend of global economic development, China as a major country is becoming a hot land of investment favored by overseas investors.

Key Words: International trade; Balance of payments; NICs; LDCs; Single currency

1. Introduction:
This report is mainly to analyze some issues of world economy. Firstly, it has introduced some knowledge point like the free trade. Then, it will explain the “protectionism” and “barriers to trade” and describe the role of the World Trade Organization (WTO) in the development of free trade to readers and the European Union. Lastly, it also introduces the informations about the LDCs and its impact and issues. In this report, I will analyze 14 elements in next three parts to make a clear explanation of benefits of joining the EU.

2. International Trade
2.1 Free trade
Free trade is a policy by


References: European Commission. (2010a). Bilateral Relations. Directorate-General for Trade. European Commission. (2010b). Statistical Annex of the European Economy. Directorate-General ECFN, Spring. Featherstone K Francois, J. F., McDonald, B. and Nordstrom, H. (1996). ‘A User’s Guide to the Uruguay Round Assessment’, Working Paper No ERAD96.003 WTO. Jackson, J Kose, M. A., Otrok, C. and Whiteman, C. H. (2003). ‘International Business Cycles: World, Regions and Country-specific Factors’, American Economic Review, 93(4), pp. 1216-1239.
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