搜索
S-1SolutionsManualtoEnd-of-ChapterQuestionsTradeintheGlobalEconomy1.Figures1-2and1-7relyondatafromtheyear2006,andFigure1-6reliesondatafrom2005,tomapworldwidetrade,migration,andforeigndirectinvestment.Up-dateddataformigrationandforeigndirectinvestmentwerenotavailableatthetimeofwritingthischapter,butareavailableforworldwidetrade.InthisquestionyouareaskedtoupdatethenumbersforworldtradeshowninTable1-1.a.GototheWorldTradeOrganizationwebsiteat“Resources”and“Statistics.”1LookforthemostrecenteditionoftheirInternationalTradeStatisticspublication,thengoto“TradebyRegion”andfindtheExcelspreadsheetwith“Intra-andInter-regionalMerchandiseTrade.”Printoutthistable.Ifyoucannotfindthewebsiteorspreadsheet,usethe2005tablefor“In-tra-andInter-regionalMerchandiseTrade,”whichisprintedbelow:b.Fromthistable,whatisthetotalamountoftradewithinEurope?Whatpercent-ageisthisoftotalworldtrade?Answer:$4,695billion,whichis29.9%oftheworldtotalS-31DestinationNorthSouth&MiddleOriginAmericaCentralAmericaEuropeCIS*AfricaEastAsiaWorldValueWorld$2,708$583$6,736$517$458$618$3,903$15,717NorthAmerica1,0151653691634603762,036South&CentralAmerica16915912191712101600Europe475964,6952401861894876,447CommonwealthofIndependentStates(CIS)3610406135112577703Africa1221921825314114558MiddleEast11771267371225691,021Asia7751288011081211962,1814,353Source:WTO,InternationalTradeStatistices2009Intra-andInter-regionalMerchandiseTrade,2008(BillionsofU.S.Dollars)1Thetradestatisticsareat(ineitherdirection)betweenEuropeandNorthAmerica?AddthattothetotaltradewithinEurope,andcalculatetheper-centageofthistotheworldtotal.Answer:$(369475)$844billion.Addingthattointra-Europeantrade,weobtain35.2%oftheworldtotal.d.WhatisthetotalamountoftradewithintheAmericas(i.e.,betweenNorthAmerica,CentralAmerica,SouthAmerica,andwithineachoftheseregions)?Whatpercentageisthisoftotalworldtrade?Answer:$(1,015+165+169+159)=$1,508billion,or9.6%oftheworldtotale.WhatisthetotalvalueofexportsfromEuropeandtheAmericasandwhatper-centageisthisoftheworldtotal?Answer:$(2,036+600+6,447)=$8,983billion,or57.8%oftheworldtotalf.WhatisthetotalvalueofexportsfromAsia,andwhatpercentageisthisoftheworldtotal?Answer:$4,353billion,whichis27.7%oftheworldtotalg.WhatisthetotalvalueofexportsfromtheMiddleEastandtheCommonwealthofIndependentStates2andwhatpercentageisthisoftheworldtotal?Answer:$(1,021703)$1,724billion,whichis11%oftheworldtotalh.WhatisthetotalvalueofexportsfromAfrica,andwhatpercentageisthisoftheworldtotal?Answer:$298billion,whichis3.5%oftheworldtotali.Howdoyouranswersto(b)through(h)comparewiththesharesofworldwidetradeshowninTable1-1?Answer:Thesharescomputedin(b)through(h)arequitesimilartoTable1.1.BotharewithinonepercentagepointofTable1-1.2.ThequotationfromFederalReserveChairmanBenBernankeatthebeginningofthechapterisfromaspeechthathepresentedinJacksonHole,Wyoming,onAugust25,2006,entitled“GlobalEconomicIntegration:What’sNewandWhat’sNot?”Thefulltranscriptofthespeechisavailableat:a.ListthreewaysinwhichinternationaltradetodayisnotthatdifferentfromthetradethatoccurredbeforeWorldWarI.Answer:i)Physicaldistanceisthesame.ii)Newtransportationmethodsallowformoretrade.iii)Governmentsfosteropentrade,aswellasfinancialflows.iv)Somegroupsareopposedtofreetrade.v)Therangeofgoodsthataretradablehasbroadened.b.ListthreewaysinwhichinternationaltradetodaydoesdifferfromthetradethatoccurredbeforeWorldWarI.Answer:i)Intra-industrytradehasincreased.S-4Solutions■Chapter1TradeintheGlobalEconomy2TheCommonwealthofIndependentStatesconsistsof:Azerbaijan,Armenia,Belarus,Georgia,Kazakhstan,Kyrgyzstan,Moldova,Russia,Tajikistan,Turkmenistan,Uzbekistan,andUkraine.ii)Informationandcommunicationtechnologiespermittradeinservices.iii)Scaleandpaceofgrowthintradeisfaster.iv)Core-peripherypatternisnolongerrelevant.v)Fragmentationofproductionprocesseshasoccurred.vi)Capitalmarketsaremoremature,andgrossflowsarelarger.Solutions■Chapter1TradeintheGlobalEconomyS-5