ASEAN Free Trade Area

In Miton Ezrati 's piece, "Defending Free Trade," Ezrati argues that free trade is more beneficial to the United States as it has more positives than protectionism. Ezrati is an economist, investment manager, and an author who currently serves as chief economist for a company called Vested. Ezrati believes that we need to fight protectionism and promote free trade with other countries as it benefits us more than shutting down trade and hiking up tariffs to unreasonable percentages. In the…

That is, the anti-cartel regulation provides not only the legal frame that organizes free market, but also provides a paper trail that allows access to specific cases, but also, through them, a way to trace each industry in particular, their main players, and the likes. Actually, the free competition court has already pronounced on high-profile cases of foreign direct investment in media and culture. Regarding trading in services in…

milestone, which detailed existing bilatera l free - trade ag reements (FTA’s) “The United States and the Republic of Korea (ROK) signed the United States - Korea Free Trade Agreement (KORUS) ” (Office of United States Trade, n.d.,para.5) . Included with in KORUS is the gradually remov al of trade barriers – tariffs . Earlier milestone f ocused on facilitation of trade. T his paper will explore the implications of trade barriers , defining winners and losers .…

Free trade and globalization have propelled the world forward since the 20th century, and have thus been encouraged by the leading economies of the world. Major worldwide institutions such as the World Trade organization, the World Bank, and the International Monetary Funds promote free trade across the globe. Largely, these institutions believe free trade ameliorates poverty on a global scale and is the key to bettering human life in the future. However, in recent years there has been a…

partners are significant impacts on own country’s economy activities either in positive way or negative way. According to Ibrahim (2003) that this issue can be explored through two mechanisms such as business cycle transmission, and International trade and capital flows. Ibrahim had estimated industrial production (IP) growth, consumer price index (CPI), M2 growth, exchange rate, Malaysia T-bill and US federal fund rates over the monthly data of January 1977 to August 1998 in both Malaysia and…

Conventional thought dictates that Capitalism and Democracy are to go hand-in hand, and since the Second World War, both have been the cornerstones of Western society; the free market is supposed to bring about the existence of a free society. While in recent years, both Capitalism and Democracy have experienced their own “Renaissance periods” in which both ideals have—for the most part—flourished, it now appears that the union between Capitalism and Democracy is being challenged, as the…

MARITIME PIRACY AND ARMED ROBBERY The importance of the oceans and seas are essential to running a trade that can bring improvement economy of a country, for trade in goods globally and maritime transport activities. International trade has been increasing the number of negative impact of the increase in the exposure and vulnerability of international shipping. These problems have caused a potential target for piracy, armed robbery and other crimes (Rodrigue, 2013 as cited in United Nation,…

E INDICES 1. Trade Complementarity Index The trade complementarity (TC) index provides significant information on opportunities for intraregional trade. It shows how well the structures of a country’s imports and exports match. It also has the feature that its values for countries considering the formation of a re-gional trade agreement can be compared with others that have formed or tried to form similar arrangements. Where xij is the share of good i in global exports of country j and mik…

of the first and most famous thinkers who argued in favour of free trade. In economics context cited by Wikipedia, the principle of absolute advantage refers to the ability of a party which can either be an individual, or firm, or country to produce more of a good or service than competitors, using the same quantity of resources. Furthermore, Adam Smith explained the principle of absolute advantage in the context of international trade, using labor as the only input. Consequently, Ricardo, one…

As the concept of absolutism and constitutionalism developed in Europe, policies of countries began to change. In France, for instance, the reign of the absolutist monarch King Louis XIV saw several changes in foreign and domestic policies. The controller general at the time, Jean-Baptiste Colbert, helped Louis by implementing mercantilism, which is a concept in which countries believe their power depended on their wealth. Ultimately, mercantilism was extremely beneficial for France, as its…