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Chapter 13 International Trade Patterns

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Chapter 13 International Trade Patterns Describing the evolving pattern of international commerce Documenting the emerging markets for global exports – PowerPoint PPT presentation

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Title: Chapter 13 International Trade Patterns


1
Chapter 13 International Trade Patterns
  • Describing the evolving pattern of international
    commerce
  • Documenting the emerging markets for global
    exports
  • Examination of global trade flows in six major
    commodity groups

2
World Patterns of Trade (1)
A clear trend towards rising exports/imports as
a share of output (GDP)
3
World Patterns of Trade (2)
Europe many small countries with strong trade
to other small countries, somewhat like trade
among U.S. states
US a huge internal market
4
World Export Trends
5
World Exports by Category
One year change Is very short, But the
total Change (8) Seems low Given the Data
for Individual industries
6
The extreme position of the United States, a
mixed picture for Europe, the need to view these
data over time, which would not alter the U.S.
position for the last several decades. Chinas
huge trade surplus what to do with the money?
7
Major U.S. Trading Partners
Geographic proximity country economy size as
explanations for level of trade. The notable
absence of India from this table.
8
U.S. Commodity Imports and Exports
9
U.S. Trade in Services
  • Unlike trade in goods, where the U.S. has a
    persistent trade deficit, the U.S. has a
    persistent trade surplus in services
  • This is based on services involving intellectual
    property, finance, producer services, information
    services
  • Implicit trade in services government debt, in
    which foreigners hold huge reserves of US

10
Key Trade Relations for Other Countries and
Country Groups (1)
  • Canada Strong ties to the U.S., a gravity
    model outcome, exports dominated by staples,
    rapid growth in trade in services
  • EU Table 13.4, many small nations strongly tied
    to other EU countries, analogous to trade among
    state in the U.S. But a layer of countries with
    economic specialties traded globally Germany
    autos and machinery France food and wine
    Italy travel mfg UK finance, ..
  • Latin America strong exports of raw materials,
    linkages to Europe, strategies to promote import
    substitution.
  • Mexico the largest US trade partner dominated
    by petroleum, manufacturing, but a huge tourist
    trade

11
Key Trade Relations for Other Countries and
Country Groups (2)
  • East Asia as the emergent source of exports in
    the last several decades Japan after WW-II
  • The 4 Tigers Taiwan, South Korea, Singapore,
    Hong Kong a view from the 1970s to ca. 1990
  • Displaced by China, Vietnam, Indonesia, India,
    and other SE Asian countries in recent years as a
    source of manufactured goods exports
  • Today a realization by the less developed
    countries in Asia that they must develop a robust
    producer services sector to be globally
    competitive this is a huge challenge for the
    centrally planned economies.

12
Key Trade Relations for Other Groups of Countries
(3)
  • Australia Small in population, rich in
    resources, the Colonial connection
  • India In some ways quite unique among large
    global economies (see next slide, from the
    previous edition of this text)
  • South Africa shifting from raw materials and
    manufacturing to services
  • Russia the rise of oligarchs, the stagnation of
    the economy in a global context, uncertainty of
    its future
  • The Middle East clearly dominated by OPEC, but
    new spinouts from oil wealth in services
    hotels, airlines, new cities

13
India Exports Imports
Very Different Mix of Imports And
Exports Compared To other Countries In the text
Does not capture the boom in services work being
done in India call centers, software, and
a host of advanced service activities. Very
strong higher education system producing
cadres of engineers scientists
14
The next slides are from the previous edition of
the textbook
  • They are a reasonable proxy for current data

15
Trade Flows in Microelectronics
Numbers in the text do not correspond to the
values in this figure
Dominated by Mexico And East Asia
16
Trade Flows in Automobiles
Again, numbers in figure differ from those in
the text
Dropping as domestic production by Japanese firms
rises
Mostly From Mexico
17
Global Rise of Japanese Auto Manufacturers
Figure 13.14documents the global production
presence of GM and Ford
18
Global Trade in Steel
Strong exports From Japan And EU A
capital- Intensive sector ?Lack
of Intra-country data data differ from text
19
Global Trade in Textiles and Clothing
Clearly huge Exports from The developing World
to all Developed Economies, due To labor
Intensity See Figure 13.31
20
Global Trade in Grains and Feed
Reduced trade in grains and feeds as many
nations have developed capacity in these
sectors Exports partly governed by global
climate and opportunities to exploit
scale economies in areas with high yields
21
Trade in Non-oil Commodities
Includes metals, ores, crude rubber, wood and
pulp, hides, cotton fiber other
textile fibers, crude animal and
vegetable materials
As in the colonial past, developing countries
are the primary sources of these
commodities, but resource-rich developed
economies such as the U.S. and Canada also
have significant exports
II
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