International Trade - created from Mind Map

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Barriers to Trade

Political Barriers

Proteoctionist policies

Tariffs

Non Tariff Barriers (NTBs)

Quotas

Subsidies

Administrative Regulations

Currency Controls

Voluntary Export Restraints

The Medium of Exchange

Theoretical Perspectives

Liberal

Critical

Comparative Advantage

Countries will be better off if they specialize in what they are relatively good at

The goods and services from one political region may be prohibited from entering or leaving a market

specific limits on the quantity of imports or their value.

payments made to particular industries to help them to be competitive on the international market. Examples of subsidies include depreciation allowances, cash grants and tax holidays.

include bureaucratic procedures, systems of advance payment, minimal domestic content rules, special marketing standards and health and safety provisions.

limit the availability of foreign currency for the purchase of foreign goods.

whereby one country agrees to limit its exports to a third country (or countries). This agreement is usually made because the importing country (countries) threatens to place barriers against the goods of the exporting country.

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International Trade

Annotations