Brad Eylander Econ 212 Wiki Paper 2 World Trade Issues International trading has been a good resource

for countries around the world wanting and needing different goods and services that they do not have. However, most countries have different views and needs then other countries and this can create issues in a lot of countries. For example, country A may need something from country B, but country B may not want to trade country A because country A doesn't have something country B needs. This scenario can be related to major industrialized countries not needing supplies from other smaller countries. Another common issue in international trading is the job market, because oversea jobs are cheaper, major companies in high industrialized countries will move jobs overseas to less industrialized countries with cheaper wages, decreasing much of the job market in the high industrialized country. Issues such as trading and employment come up all the time in international trading, but with global communication, increasing technology, and better education global economies can still grow. Before we began, we must know how international trading works by first understanding key concepts. First and most important word is globalization, which is when countries throughout the world use free trade in order to find cheaper foreign labor markets to create a global economy (Webster). Another common concept that is similar to globalization is international trading. International trading is the exchange of goods and services across international boundaries or territories. With all international trading comes taxing, the term for taxation on foreign goods upon importation is tariff (Public). When discussing jobs, the concept of outsourcing jobs is when countries such as America (or any high industrialized country) shift workers to lower economic countries to increase business income. The final organization that will be discussed is the ILO (International Labor Organization). ILO's mission is to create opportunities for men and women to have fair working conditions, ensure peoples rights at work, encourage decent employment opportunities, enhance social protection and strengthen dialog in handling work-related issues (ILO). International trading is very important in the US because it depends on the economy's wellbeing; the more a country can exports of goods and services to other countries, the better the economy does and vice versa. Lately, technology has been increasing also causing international trading to increase. With an increase in international trading, high paying jobs have been switching to lower paying jobs across seas -laying off people in these higher paying jobs-. International trading is important for all countries because it shows how an economy is doing comparatively with the rest of the world. One prime location of international trading within the US is Washington State because it's located at the top left corner of the country. Being located right next to the Pacific Ocean it gets lots of international trading with East Asia, especially China. China is one of the biggest countries that the US trades with and the Port of Tacoma in Washington is the location at which most trade interactions take place. With so much trading that China has to offer -grain, iron, steel, and airplane parts-, the US has put themselves in debt of about $800 billion dollars with private and public sectors. Washington and it's good trade relations with East Asia plays a key role on how the US can find a way to benefit the public and private organizations on the East coast to turn around the large debt we have with China and other East Asian countries (Kearsley). Another important vocabulary word that has yet been discussed is WTO (World Trade Organization). The WTO is an international organization designed to supervise and liberalize international trading by finding global rules all countries can agree on and only trading with the

countries that obey these rules. It's responsible for negotiating and implementing new trade agreements and is in charge of making sure all the countries follow all the WTO agreements (Public_2). The WTO has big impacts on US international trading because a lot of countries and people don't like it. Many people complain that the WTO excludes poor countries from it's trading and only includes rich countries who can pay the tariff. Critics also complain that because there are many rules in the WTO labor rights suffer because of it. The WTO has major impact on the people because people want equal rights as everyone else. People receiving goods don't want to exclude other countries from trading just because they're not in the WTO agreement, many people like more of a free-market trading where anything can be traded. Being most concerned about the international trading and the impact on society are the unemployed people and the government. The top person in charge of the economy and how international trading is ran is President Bush. The US is in massive debt with other countries and the President is in charge of getting us out of it. Another group within the US government system that have major concerns with international trading countries are the Democrats. For example, the Democratic government want Colombia, Panama, Peru and South Korea to ban child and slave labor and the right to organize; they even want the US to change laws in the International Labor Organization (Weisman) to help promote this. The reason why the Democrats want to ban child labor and slave labor is because Democrats are all for the people, and they believe strongly in equal labor rights in the US and throughout other countries they trade with. Although the government is most involved, the people in the US are probably the most concerned because many jobs are being lost due to the outsourcing of jobs in other countries across seas. On October 1995 LA Times took a poll asking people if they were afraid about the impact of increased trade agreements with foreign countries create less jobs and a lower standard of living, 63% agreed and 32% disagreed (International Trading). To confirm this, it's estimated that 12,000 – 15,000 jobs positions in the US have been moving overseas a month. However, the flip-side to outsourcing is not always negative; there are some benefits. One benefit is that increase profit in companies can cause industrial expansion, thus creating more jobs at higher wages due to more international trading. Another benefit is that the increase in outsourcing jobs obligates more people to increase their education, thus creating more opportunities for them to get good jobs and increasing production in US companies (Otterman). To sum up the issue of international trading, we have discussed the rules, benefits and loses. The rules are guided and enforced by the WTO, and those in the WTO have signed a contract in acknowledgment of the rules and to abide by them. The loses to the increase in international trading is the loss of jobs, due to companies in the US moving work across seas, to create more profit. However, with lose also comes gain. The US can reverse their situation of a smaller job market by increasing education, creating more opportunities for an individual to move up in the job market. With more people in the job market more industrialized countries will export more goods and services. Although international trading takes away jobs, it will strive the people in the US to create more jobs and to export more goods. In exporting more goods, the US may finally get out of it's debt and climb to the top of the economic world wealth.

Works Cited:
“Globalization”, Merriam Websters Online Dictionary. URL: <http://www.m-w.com/dictionary/globalization>

“International Trade”, Public, Wikipedia, 8/1/07. URL: <http://en.wikipedia.org/wiki/International_trade> “How To Reach Out to Pacific Power”, Kelly Kearsley, Red Orbit, 2006. URL: <http://www.redorbit.com/modules/news/tools.php?tool=print&id=423945> “World Trade Organization”, Public_2, Wikipedia, March 2007. URL: <http://en.wikipedia.org/wiki/WTO> “Labor Rights Issues Are Stalling Trade Pacts”, Steven R. Weisman, The New York Times, April 21, 2007. URL: <http://www.nytimes.com/2007/04/21/business/21trade.html?ex=1334808000&en=c63b31bb345d7bfd &ei=5089&partner=rssyahoo&emc=rss> “About the ILO”, Unknown Author, The International Labor Organization, 1996-2007. URL: <http://www.ilo.org/global/About_the_ILO/lang--en/index.htm> “International Trade”, Unknown Author, Americas and the World URL: <http://www.americans-world.org/digest/global_issues/intertrade/reservations_trade.cfm> “Trade: Outsourcing Jobs”, Sharon Otterman, Counsel on Foreign Relations, Feb. 20, 2004 URL: <http://www.cfr.org/publication/7749/trade.html>
1. Questions: 1.1 There was a good variety of sources listed under each question on this wiki. Rating (see 1-5 scale above) 4

There was a lot of sources to chose from with a good variety.
1.2 As I was answering the questions for essay #2, I felt that I had sufficient sources for each question on the wiki and I did not feel that I needed to find more. Rating (see 1-5 scale above) 3

I found a lot more sources because the sources provided didn't contain enough information as I wanted.
2. Source descriptions 2.1 I found the source descriptions to be accurate in their presentation of the information contained in the sources I used for essay #2. Rating (see 1-5 scale above) 5

Each source had good information describing the resource.
2.2 The source descriptions did a good job in telling me what each of the sources had to offer. Rating (see 1-5 scale above) 5 The descriptions had accurate source information 3. Formatting and presentation 3.1 The information on the wiki was presented in a way that made it easy to get what I needed from the descriptions, and made it easy to access the sources.

Rating (see 1-5 scale above) 4

All the links worked, but the information from websites provided was pasted on the wiki, which was kinda confusing.
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Pretty good sources.