Patterns of Trade.

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Presentation transcript:

Patterns of Trade

Research task Choose 2 countries and create a report/ presentation on the patterns of trade of that country using comparisons and similarities. What do they export? What do they import? RULES: One country must be developed and the other developing You need data, statistics & images Research if this has been a constant pattern for your chosen country, or if it has changed in recent years (why do you think this change has come about) Is there a correlation between growth and globalisation? https://atlas.media.mit.edu/en/explore/tree_map/hs/import/prt/show/all/2012/

In pairs… What are the main IMPORTS and EXPORTS to the UK?

Why Import what are the benefits?

How will the trading pattern change for the UK now we are out of the EU? What will a new ministry of trade have to do after the country breaks off with the EU to replace current trading relationships? Sign a deal with the remaining 27 members of the EU, come to an arrangement with about 50 additional countries with which the EU has preferential deals, or all the remaining 161 members of the World Trade Organisation? A bilateral deal with the bloc is likely to take years to negotiate, say experienced trade negotiators. Barack Obama, US president, has also cautioned that Britain would be “at the back of the queue” for a US-UK trade deal.

Read through the following article: http://www.economist.com/node/21562221 What do they argue causes changes in trade patterns? What do they argue increases trade? What are the trade patterns of mentioned countries/ trading blocs? What do you think protectionism is? What impact is it having?

Research What has been the impact of China & India on world trade patterns? What has been the reaction of developed countries?

UK Patterns of Trade https://www.uktradeinfo.com/Statistics/OverseasTradeStatistics/Page s/OTS.aspx Interactive database

Benefits of free trade… Why do we trade? http://www.tutor2u.net/economics/content/topics/trade/free_trade. htm http://www.economicshelp.org/trade/benefits_free_trade/

Free trade Specialisation leading to increased output Advantages of free trade Disadvantages of free trade Specialisation leading to increased output Trade allows economies of scale (larger market to sell to) Lower price and increased choice Competition and innovation Risk – interdependence, over- reliance on trade, loss of control Unemployment (perhaps) Income inequality Environmental impact Culture