Trade Stats
What Region presented has the smallest gross domestic product
Bermuda
Why have Bermuda store sales been on the decline these past years?
Due to a lack of variety.
what two countries are in full support of Protectionism?
Russia and Bermuda
what is the role of the Retail Sales Index press?
To issue news on retail sales.
defined as a state or country where certain taxes are imposed at a very low rate or not at all,
Tax Haven
Imports allow for...
(2 benifits)
lower prices and increase choice of goods
Between Russia and Bermuda which country has higher tarrifs?
Bermuda 103.17%
Russuia 5.34%
In China what did International trade provide?
Employment opportunities for those in foreign countries. This has completely changed the Chinese working culture as the outsourcing market increased by approximately 30% in 2014 as companies scrambled to move their operations closer.
what type of jobs have been increasing 3.1 times faster from 2004 to 2014
Trade related jobs
What helps American companies stay competitive in global markets and allows families to have more purchasing power?
Free trade
Name a benefit of export growth
increases jobs by generating new business for U.S farmers, manufacturers and service providers
United States-Mexico-Canada Agreement's (USMCA) former name?
NAFTA
Why is Bermuda attractive to large corporations looking to produce goods?
Because Bermuda is known as a tax haven, where corporate tax is very low which allows for corporations to save money and increase business GDP.
describe the practice of offshoring
the practice of outsourcing operations overseas, usually by companies from industrialized countries to less-developed countries, with the intention of reducing the cost of doing business.
Does Canada support protectionism or free trade?
Both
In February of 2022, which government filed a lawsuit against the United States of America for Biden’s vetoing of the Keystone XL pipeline.
Government of Alberta
Name 2 things that Generate large sums of revenue in the U.S that were said in the presentation.
Aerospace products, petroleum, motor vehicles and travel services
Does more country imports = more store variety?
?
name 2 countries that have embargos with the US?
North Korea
Cuba
What does Chapter 11 of the North American Free Trade Agreement say?
to settle investment disputes between international parties