Essay about Thailand´s International Trade Policy

Trading is very important economic factor. Trade between different countries depends upon different factors. There are some factors due to which bilateral trade between two states is enhanced. On contrary, there are some factors which restrict or reduce the trade between two countries (Meyer, 2011). Factors which enhance trade include different cultural, political, geographic and economic aspects which are common between the 2 countries involved in bilateral trade with each other. While trade is reduced or restricted, if two countries are completely different culturally, politically, geographically and economically (Siegel, 2011). For example, trade between two countries, having common boarder, currency, per capita income et cetera, will be lot more high than those countries which do not share these factors common with each

The population of the Asia region of the world contributes a massive amount of exporting goods, and global business as a whole. The sheer number of people consuming goods that must be imported to support the large population force the need for trade with other regions. The demand for resources is high and the need to develop strong trade relations with other countries is vital to the continued growth and success of Asian countries.

There is no doubt that increasing in international trade is supporting the economic growth across the world, raising incomes and creating jobs. However, international trade can also some create economic obstacles, such as the international context and the market policy and regulations of each country, and consequently it can be said that the effects would have positive and negative sides, and it is useful to mention all of them and to take them into consideration.

Trade is somewhat beneficial to Australia's position in the Asia-Pacific region. Australia's role in trade has several agreements that is tied with the other countries in the Asia- Pacific that helps our position. These agreements are social justice and equality issue the is trade with under developing countries and if all the workers are treated equally. Geopolitical advantage is the factors that affect Australia and other countries in the Asia- Pacific with their politics position and geography position. Trade has an economic advantage to Australia position which is gonna be a great investment for further years in Australia economy. We can therefore see that Australia position is very high in the Asia- Pacific

The global financial crisis has affected severely on Vietnamese exports. After joining the WTO, Vietnam’s trade has become depend on global

The comparative advantages have attracted more manufacturers of big companies to produce manufacture their products in Thailand which leads to the increasing supply of manufactured products. Thus, the surplus of manufacture products increases the export rate of manufacture products and shift the exports of primary products to exports of manufacture products. (This is kind of a summary for this point)

Mercantilism was a sixteenth-century economic philosophy that maintained that a country's wealth was measured by its holdings of gold and silver (Mahoney, Trigg, Griffin, & Pustay, 1998). This recquired the countries to maximise the difference between its exports and imports by promoting exports and discouraging imports. The logic was transparent to sixteenth-century policy makers-if foreigners buy more goods from you than you buy from them, then the foreigners have to pay you the difference in gold and silver, enabling you to amass more treasure. With the treasure acquired the realm could build greater armies and navies and hence expand the nation’s global influence.

     International trade is defined as trade between two or more partners from different countries in the exchange of goods and services. In order to understand International trade, we need to first know and understand what trade is, which is the buying and selling of products between different countries. International Trade simply is globalization of the world and enables countries to obtain products and services from other countries effortlessly and expediently.

Adam Smith outlined that the price mechanism in international trade is like an ‘invisible hand’ that coordinates the consumption and production decisions in a well-functioning market economy (Kerr and Gaisford 2007). However, there is need for the government to intervene in free market economies in order to implement trade regulations and avoid market failure that is associated with negative externalities. International trade is affected by government’s interventions that include direct participation in supply and purchase of essential goods and services, through regulation, taxation and other indirect participation influences. The free markets enhance market efficiency through ensuring that prices are determined by the

Gross domestic product per capita is good for measuring the economical level of a nation directly (Bloom & Finlay 2009). With higher GDP per capita, the country will have stronger economic capability and purchasing power (Bloom & Finlay 2009). In this way, this paper will provide a weighting of 1.5 with GDP per capita within evaluation. Specifically, countries with higher GDP per capita in Asia-Pacific region will have stronger purchasing power of buying agricultural tractors from the U.S. As shown by Figure 2, GDP per capita of Asia-Pacific countries varies from each other largely. In particular, Australia, Japan and New Zealand are the countries with three highest GDP per capita. Based on this, Australia, Japan and New Zealand

International trade theories explain international trade patterns. Academics see trade as the interdependence of states through the exchange of capital, goods, and services. International trade has existed for thousands of years in the world. Its economic, political and social influence in the world has begun rise. However, new trade theories include Porter 's diamond national competitive advantage which focuses on modern trade concept. This paper will discuss Porter 's diamond national competitive advantage and the extent to which their link to the new trade theories contrast with the neoclassical view of trade. The author will then discuss how government policies could influence trade pattern.

Abstract:- Trade is the transfer of ownership of goods and services from one person or entity to another by getting something in exchange from the buyer. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade and trade between nations is called foreign trade/ international trade or external trade. The South Asian Association for Regional Cooperation (SAARC) is an economic and geopolitical organisation of eight countries that are primarily located in South Asia Even after the formation of SAARC trading bloc, regional integration among the South Asian countries remains minimal. The objective of this paper is to examine whether intra-SAARC trade is lower or higher than what is

ASEAN Economic Community (AEC) is a realization of the ultimate goal of economic integration espoused in Vision 2020, which is based on the convergence of the interests of member countries of ASEAN to deepen and broaden economic integration through existing and new initiatives with a clear deadline. In establishing the ASEAN Economic Community (AEC), ASEAN must act in accordance with the principles of an open, outward-looking, inclusive and market-oriented economy consistent with multilateral rules, and compliance with the system for compliance and implementation of an effective commitment to a rules-based economy. ASEAN Economic Community (AEC) will establish ASEAN as a single market and production base to make ASEAN a more dynamic and competitive with the mechanisms and measures to strengthen the implementation of existing and new economic initiatives; accelerate regional integration in priority sectors; facilitating the movement of business, skilled labor and talents; and strengthen institutional mechanisms of ASEAN as a start to realize the ASEAN Economic Community.

Engaging in international trade is an effective stimulation of economic growth. David Ricardo’s principle of comparative advantage argues while nations involved in international trade, a country will become specialised in producing a product that has the lowest relative costs. (Economist, 2015) By focusing on the production onto a limited scope of product or industries, firms or the nation will experience rise in productivity due to higher efficiency in allocation and utilisation of resources. As the process of specialisation will cause reallocation of other less efficient resources, nations, as a result, will import products that are less efficiently produced from other countries. While different nations specialising in different goods and services, a greater variety and cheaper products will become available for consumption, improving the quality and quantity of consumption by all nations. To determine whether developing nations are experiencing disadvantage in the international trade, it requires a careful examination with Porter’s Diamond factor endowments. It analysis a nation 's competitiveness under four categories: factor endowments, demand condition, related and supporting industries and firm strategy, structure and rivalry.

Apart from foreign direct investment exports has been one of the determinants of upholding higher economic growth, better schooling and life expectancy due to their assimilation in the world economy. Developing countries can enlarge their markets by allowing firms exporting and achieving economies of scale. Exporting is one of the prominent channels of technology transfer to other nations (Pack. 1993) . Normally industrial policies are prepared to stimulate exports. The export competitiveness or export performance generally can be measured by several factors, for instance, real exchange rate, comparative advantage, terms of trade, geographic concentration, trade policies, world income etc. We have used Revealed Comparative Advantage and gravity