ECO 212 Week 5 LTA International Trade Simulation and Report

Apr 16th, 2015
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International Trade Simulation and ReportTeam B: NamesECO/212University of PhoenixInternational Trade Simulation and ReportThe topic on international trade can be absolutely complicated, and thus this paper is dedicated to all the aspects and issues involved in international trade. All the results and insights are from the seven members of a team. As an overview, this paper will include all the factors that have an impact on the foreign exchange rates as well as the absolute and comparative advantage of international trading. Moreover, the team also discussed the recent simulation conducted regarding the international trade, the results and the evaluation of the team members. Finally, the paper will elaborate on the role and the influences of the policy making body of the government and the World Trade Organization (WTO) on international trade.The team opted to focus first on the various issues about international trade, and tried to look at all sides of the issues. At some point, the team members had to debate about it. One of the prevalent issues would be the high rate of child labor in the USA, which was consequently linked to international trade. In a struggling economy, the gap between the wealthy and the poor becomes more apparent, and the next issue identified by the team is relevant to this situation. Because of international trade, some exporters become too greedy and release too many of their products to different countries, which can apparently c

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