Voluntary Trade Lesson 41. Changes to increase foreign trade and investment in India A benefit to India since 1991. Made market-oriented economic reforms.

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Presentation transcript:

Voluntary Trade Lesson 41

Changes to increase foreign trade and investment in India A benefit to India since Made market-oriented economic reforms. More freedom with foreign investments. Tariffs reduced. Finance system was reformed and modernized.

India TRADE Barriers Government controls foreign trade and investment. Non-agricultural tariff was 20%. Lowered to 12.5 % Goal to force Indians to buy Indian products. Economy regulated by the government.

Japan & International Trade Exports Manufactured goods. Include food and raw materials. Imports Raw materials because they lack natural resources. Include machinery, equipment, and fuels.

Japan’s Trade Surplus Trade surplus - Export more than they import to this present day Extra $ used to invest in foreign stocks, bonds, real estate, and business. Companies produce more products outside of Japan than in Japan. (cars and electronics) Locals in other countries buy Japanese because they ‘re provided with jobs.

Pacific Rim Countries Pacific Rim countries that border the Pacific Ocean including North and South. America, Asia, and Oceania. More goods cross the Pacific than the Atlantic. Transnationalism- when people legally live and work in more than one country.

Transnationalism Example Entrepreneurs leave Korea to go to California. Overseas Korea Foundation created by the Korean government helps Koreans abroad. They know their citizens abroad will purchase Korean made goods.

South and East Asia’s Economic Power Large populations help economic power. Tokyo, Japan’s population is over 25,000,000 (New York City 8 million) China (highest population in the world) India (population over 1 billion) Most of Asia densely populated.

“Four Asian Tigers” Taiwan - considered by the Chinese to be a part of China. An economic powerhouse. Hong Kong became a part of mainland China again in Was apart of Great Britain for almost 100 years. South Korea Singapore Strong economies in all four nations.

Indonesia TRADE BARRIERS Economic problems. Poor economy. Investment seen as a risk by foreign countries. Borrowed money from the International Monetary Fund in the 1990’s. Debt repaid in 2006 (4)years ahead of schedule. Regained Confidence

Indonesian Economic Plan Released by the State Ministry of National Development Planning in Safe and Peaceful 2.Just and Democratic 3.Prosperous 4.Stable framework for development. Businesses gave input as to how they could encourage foreign and domestic investment.

Currency Exchange India- Rupee ( 2006: about 45 rupees equaled a U.S. $1) China- Yuan (2006: 7.8 Yuan equaled U.S. $1) Japan- Yen (2006: 118 yen equaled U.S. $1)

Lesson Practice 1. The Indonesian government has taken steps to make the country stronger economically. What results MOST LIKELY will follow? A. Other governments will question the government’s drastic steps. B. Foreign investors may want to invest in Indonesia. C. Communist economic policies will once again take hold. D. They will never experience another natural disaster. 2. Something that is meeting with success in the Pacific Rim is A.Communism. B.Underdevelopment. C.Transnationalism. D.Trade deficits.

3.Japan experience a trade surplus. This means that it A.Exported more than it imported. B.Imported more that it exported. C.Had extra unsold goods for sale. D.Transferred extra goods to Japanese companies abroad. 4.All of the following are trade barriers EXCEPT A.Limiting investment. B.Lowering tariffs. C.Limiting foreign investment. D.Natural disasters.