Unit 2 Individual Project Mgmt 220 Aiu Online

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International Trade
Unit 2 Individual Project
Presented in Partial Fulfillment
Of the Requirements for the Class
MGMT 220 Introduction to International Business
By Marisa Canales
AIU Online
14 January 2011

When I, Marisa think about international trade one country comes to mind; Japan because Japan manufactures cars or electronics for example for America but it needs from us metals like iron and copper. Without us trading back and forth with Japan both sides would be hurting economy. In which I, Marisa will be going over more in detailed but first I, Marisa need to know the relation between international trade and world output, describe the broad pattern of international trade, if the nations of the world were to suddenly cut
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“Although the national welfare effect will be positive, in a country composed of many individuals, a redistribution of income generating winners and losers from trade is very likely.” (Internationalecon.com, 2011) But what if the world were to suddenly cut off all trade to one another? Since I, Marisa have lived in the U.S. my whole life I, Marisa can only identify with the U.S. What would the U.S. lose if world trade would stop altogether? We would lose oil, sugar, and ect. But the U.S. is already facing that. According to “John Hofmeister, the former president of Shell Oil believes that American consumers will likely be paying 5 dollars for a gallon of gas by the time 2012 rolls around.”(Theeconomiccollapseblog.com, 2011) So will my employer pay me more if gas goes up like that? NO! But when prices for oil goes up it affects everything that has to be transported which means everything from clothes to food will go up. “So why is the price of oil going up so much? Well, of course there are speculators and of course the price of oil is highly manipulated, but one of the big reasons why oil is going up is because the U.S. dollar is losing value.” (Theeconomiccollapseblog.com, 2011) All of America’s basic things keeps going up as well to the point where we all will have to work in order to live. The other country that I, Marisa thought of was Japan that needs to have products to trade in order for

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