经济相互依存性

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1、TheInternationalEconomyChapter11KeyConceptsandTermsEconomicinterdependence经济相互依存性Lawofcomparativeadvantage比较优势原理2I.Ever-increasingDegreeofEconomicInterdependenceReflectsthehistoricalevolutionoftheworld’seconomicandpoliticalorder;Hasbecomemuchmoresophisticatedinrecentyears;Hasunev

2、eneffectsondifferentcountriesanddifferenteconomicsectorswithinacountry.3II.DrivingForcesbehindGlobalizationTechnologicalchangeTradeliberalizationFinancialliberalizationGlobalproduction4Case:theU.SasanOpenEconomyTheU.S.economyhasbecomeincreasinglyintegratedintotheworldeconomy.Suchi

3、ntegrationinvolvesanumberofdimensions,includingtradeofgoodsandservices,financialmarkets,thelaborforce,ownershipofproductionfacilities,anddependenceonimportedmaterials.5Table1.1ExportsofGoodsandServicesasapercentageofGrossDomesticProduct(GDP),1999CountryExportsasPercentageofGDP%Net

4、herlands55Norway41Canada39Mexico31SouthKorea31UnitedKingdom29Germany25France25UnitedStates12Japan106Table1.2LeadingTradingPartnersoftheUnitedStates,1998CountryValueofU.S.Ex(bln$)ValueofU.S.Im(bln$)Canada154178Japan58125Mexico7996China1475Germany2751U.K.3936France1825SouthKorea172

5、5Belgium149Netherlands1987III.WhyisInternationalTradeImportantAccordingtothelawofComparativeAdvantage,thecitizensofeachnationcangainbyspendingmoreoftheirtimeandresourcesdoingthosethingswheretheyhavearelativeadvantage.Internationaltradealsoresultsingainsfromthecompetitiveprocess.8I

6、V.CommonFallaciesofInternationalTradeTradeisazero-sumactivity—ifonetradepartygains,theothermustlose.Importsreduceemploymentandactasadragontheeconomy.Tariffs,quotas,andotherimportrestrictionswillsavejobsandpromoteahigherlevelofemployment.9V.ConsequencesofIncreasedOpennesscurtaili

7、nflationarypressuresathome;placesconstraintsonwagesfordomesticworkers;reduceoreliminatethecrowding-outofprivateinvestment;makethedomesticeconomyvulnerabletodisturbancesinitiatedoverseas;affectsfiscalpolicy.10VI.IsBusinessCycleDisappearingintheProcessofGlobalization?Economicrestru

8、cturemakeseconomylessvulnerableto