Overview

Free trade is a type of trade policy that allows traders to act and transact without interference from government. Thus, the policy permits trading partners mutual gains from trade with goods and services produced according to the theory of comparative advantage. Under a free trade policy, prices are a reflection of true supply and demand, and are the sole determinant of resource allocation. Free trade differs from other forms of trade policy where the allocation of goods and services amongst trading countries are determined by artificial prices that do not reflect the true nature of supply and demand. These artificial prices are the result of protectionist trade policies, whereby governments intervene in the market through price adjustments and supply restrictions. Such government interventions generally increase the cost of goods and services to both consumers and producers. Interventions include subsidies, taxes and tariffs, non-tariff barriers, such as regulatory legislation and quotas, and even inter-government managed trade agreements such as the North American Free Trade Agreement (NAFTA) and Central America Free Trade Agreement (CAFTA) (contrary to their formal titles.) -- any governmental market intervention resulting in artificial prices that do not reflect the principles of supply and demand. This important book gathers the latest research from around the globe in this dynamic field with a focus on: trade relations with China, Brazil, South Korea, Canada, Australia and the Middle East among others.

Full Product Details

Author:   William R Stevens
Publisher:   Nova Science Publishers Inc
Imprint:   Nova Science Publishers Inc
Weight:   0.944kg
ISBN:  

9781607416401

ISBN 10:   1607416409
Pages:   412
Publication Date:   18 May 2010
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   Awaiting stock  
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Table of Contents

Preface; Implications of the COMESA Free Trade Area & the Proposed Customs Union; U.S. China Trade -- Eliminating Non-market Economy Methodology Would Lower Antidumping Duties for Some Chinese Companies; South Korea -- U.S. Economic Relations: Co-operation, Friction & Prospects for a Free Trade Agreement (FTA); Brazilian Trade Policy & the United States; Generalized System of Preferences: Background & Renewal Debate; A History of Canada -- United States Trade Relations; A Quantitative Assessment of the Inter-War Australian Trade Policies Using the CGE Approach; Economic Policy Challenges of Gains from Trade: The Case of Austria; U.S. Agricultural Trade: Trends, Composition, Direction, & Policy; Free Trade Agreements: Impact on U.S. Trade & Implications for U.S. Trade Policy; Skill Distribution & Systems of Cities in a North-South Trade Model; Organic Page Information for International Trade & Finance; Middle East Free Trade Area: Progress Report; U.S. International Trade: Data & Forecasts; Regional Trade Blocks in a Non-Cooperative Network: Why Are Trade Agreements Regional? A Theory Based on Non-Cooperative Networks; Index.

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