International Trade and Finance

First explained by David Ricardo through comparative advantage, international trade and finance expands worldwide efficiency and productivity. Econlife looks at international trade to see its impact through goods and services, trade balances, trade barriers like tariffs and quotas and subsidies.

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    A Tank of Gas

    Apr 27, 11 • 579 Views • No Comments

    A tank of gas is not just a tank of gas. Isn’t it a spending decision? The national average for a gallon of regular is close to $3.88 and higher in California. July 2008 was the last time we dealt with 4 dollar gas. One economist estimated that 4 dollar......  [read more]

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    “Buy Australian?”

    Apr 25, 11 • 480 Views • No Comments

    In Australia, concerned about the impact of twin disasters in Queensland this summer, Australia is saying, “Buy Australian.”  But they just faced an unexpected problem. The T-shirts they are using to publicize the campaign were made in......  [read more]

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    Aspirational Pecans

    Apr 20, 11 • 510 Views • No Comments

    Our story starts with the walnut. Loved in China, and always cheaper than pecans, during 2007, suddenly, the walnut became relatively expensive. Following the law of demand, Chinese consumers bought fewer walnuts and more pecans. And that was when they......  [read more]

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    A “New” World Bank

    Apr 18, 11 • 383 Views • No Comments

    What if you made a huge amount of money available for projects in Northern Africa and the Middle East? Let’s say you successfully expanded airport capacity in Cairo or raised incomes in rural Tunisian communities? The World Bank can claim these......  [read more]

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    The Price of Rice

    Apr 13, 11 • 390 Views • No Comments

    What would make you switch what you eat every day? The Indonesian government is using an ad campaign to try to get people to change their daily diet. Their slogan is, “One Day No Rice.” With per person consumption at 275 pounds of rice a year,......  [read more]