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International Trade Simulation Essay

994 words - 4 pages

International Trade Simulation

The simulation that we worked on for the Internatonal trade assignment involved four countires; Rodamia, Uthania, Suntize, and Alfazin. In the simulation the economic survival of these countries depended on the availability factor and utilization of their countries resources. Each country had different strengths and weaknesses. The economic strengths of Rodamia were agriculture, industry and services. Products produced in Rodmia were chocolate products and confections, similar to their neighbor Uthania. Uthania economic stronholds were corn, coal and other minerals. Alfazins agrarian industry was solid. Rice and cotton were also part of Alfazins ...view middle of the document...

Thes two exports provide them with a competitive advantage. Absolute advantage is not a requirement or necessity. What is mostly required is is consistency in trading with neighboring countries that efficiently generate products that are not your countries primary crop, service or product. A good strategy for Rodamia would be to import corn from Uthania and electronic components from Suntize.
When a country joins the international trading circle it gives that country more time to specialize in producing what goods it is best at. International trading helps a country improve and advance the production of their primary goods and services. It also makes the other products and services more acquirable and readily available. Uthania desires to have cheese with their corn but cheese is not one of their major products. If Uthania imports their cheese from Rodamia and exports their corn to Rodamia both countries will be able to enjoy larger amounts of both through international trading. With the increase of production through international trading of Rodamia and surrounding countries, economic development will flourish. Economic growth brings about better living conditions and prosperity. Economic growth makes a country more attractive to other countries and brings more industry and service to the country and more jobs will be created.
Another benefit of economic growth from international trading is the political side of it all. The best and easiest way to be established with many different countries is through the political ties it brings with it. Uthania and Rodamia would have a better relationship without any conflicts and a better way to resolve any issues.
Taking control of many advantages in international trading you are bound to have some disadvantages. Suntize imposed cheap prices on watches that were exported to Rodamia. This is called dumping and brought about an alarming situation to the watch makers industry. Because of this the companies may lose lots of money and maybe even their businesses. Only because now...

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