Therefore, this type of situation reveals that China does saturate the Nigerian market with Chinese goods and this could in the other way round because unfavourable market conditions for home produce goods. Again, as years were advancing the trade relations between Nigeria and China was also on good terms in the sense that the trade volume reached 3 billion US dollar by 2004. Also in 2010 the value of bilateral trade between the two countries was 10 times what it was in 2000 that is the value of trade in 2010 was 17.7 million US dollars meaning that the trade value in 2000 was below 7 million US dollars as revealed by findings (. Furthermore, China mostly imports oil and gas products from Nigeria and Chinese exports to Nigeria comprise numerous manufactured goods, electronics, and machineries amongst other. For example, within a period of 10 years as above, China's exports expressed as a percentage of the total bilateral trade was up to 20%.
If Portugal has to spent the labor of 80 people for one year on the production of the wine or 90 workers on the cloth, England may need 120 and 100 people for this. Although, Portugal has an absolute advantage, which means it requires less resources on both goods, it is better to produce the wine only and exchange it to the cloth from England, since England has comparative advantage in the cloth: if it uses 100 labor for the cloth, it loses 5/6
According to the literature, there are several different hypothe- ses concerning the influences of the degree of trade open- ness of a country on its Total Factor Productivity growth rate. While some authors argue that the influence of the first vari- able over the second is insignificant or even negative, others such as Romer (1986) and Lucas (1988), suggest that the trade openness degree can impact positively on the growth rates of Total Factors Productivity and, consequently, on economic growth. The explanation for this possible positive relationship would be justified by the fact that a greater trade openness de- An evaluation of trade openness effects on Total Factor Productivity (TFP) in China — 2/4 this fact to its economic importance
Pick up subtotal equals to $1.37, delivery subtotal – $2.05. Total = $3.42 for pickup/delivery cost one overnight letter. Airborne saved 10% of $3.42,so the savings were approximately $15,561,000 per year advantage over Fed Ex’s cost structure. Airborne also did net spend on advertising and IT . We should also consider the fact, that Airborne saved $1.00/hour less for part-time employees,than FedEx did.
There by a country would be able to maximize its production (GNP) and its consumption or One big question that smith failed to answer was what if a country does not have absolute advantage? What would be the structure of the trade? David Ricardo addressed the answer for this question through comparative advantage (Ibid). He pointed out that countries should specialize in production where their greatest comparative advantage. Economic welfare (Salvatore,
Bilateral trade deals tend to attract less attention, therefore pressure from the opposition forces is likely to be low. The GSP offers privileged entry or an extensive variety of products from 144 countries and regions into the Organization for Economic Co-operation and Development (OECD) markets. Bilateral trade agreements are easier to conclude than multilateral trade agreements. Members of the ACP (African, Caribbean, and Pacific) group of countries obtain superior admission to EU markets, and exports from the least developed countries (except for sugar, bananas and rice) are receiving almost duty- and quota-free entrance to the EU markets (IMF,
Disadvantages of Multinational Corporations: • Potential Abuse of Workers Multinational companies often invest in developing countries where they can take advantage of cheaper labour. Some multinational corporations prefer to put up branches in these parts of the world where there are no demanding policies in labour and where people need jobs because these multinationals can demand for cheaper labour and lower standard in healthcare benefits. • Threat to Local Businesses Another disadvantage of multinational corporations in other countries is that they have the potential to dominate the market. These giant corporations can dominate the markets they are in because they have the more renowned products and they can afford to even sell them at lower prices since they have the financial resources to buy in a much larger quantity. This can devour all the other small businesses offering the same goods and services.
The handling cost of jute bags (25 to 100 kgs) is Rs 75/metric ton whereas that of PP FIBC is only Rs 10/metric ton. The wastage factor due to spillage in case of jute bags is as high as 2.5% whereas that of PP FIBC is only 0.5%. 2) Easy filling and discharge For 1 ton of product in jute bags, 20 to 40 times filling is to be done whereas in case of PP FIBC the filling is to be done only once. 3) Savings in loading/unloading time due to ease of handling In case of jute bags the average time taken for loading/unloading is 10 minutes per ton of product whereas in case of PP FIBC is 3 minutes per ton of product. 4) Low weight packing for transport In case of jute bags, about 5-7 kgs of packaging material is used per ton of packed material whereas in case of PP FIBC’s about 2.5 to 3 kg of packed material is used per ton of packed
Country processes only 2 per cent of the total agriculture produce which is targeted to reach 10 per cent by 2015. The rapid growth in modern retail with multi brand FDI and changing demographic profile (nuclear family, young, larger middle income, eco-friendly) tin sheet industry is growing at much faster rate. Tin plate being environmental friendly enjoys superiority over other packaging material. Need to be financially strong: • After the FTA with Japan import of prime quality tinplate become cheaper, while non-prime tinplate is finding their way into food packaging industry through dumping from international
Lower production cost in one region versus other regions, specialized industries, lack or surplus of natural resources and consumer tastes etc., are the various reasons for the occurrence of trade across the countries. Apart from these some importance of the international trade are as follows: (i) International Trade enables the fuller