It records all the financial

The Twentieth to It is the system of accounts that

First half of the Balance of transactions of its residents and
the Twenty-First records the international financial
20th century Payments the rest of the world during a
Century transactions of a nation.
specified period of time.

Worldwide
Currently there are greater Protectionism It can be classified into: 1. Protection of an infant industry
Economic
opportunities for international trade
Depression
that countries previously did not
have. 2. Protection of the home market
6. Conservation of natural resources
The last half of
the 20th century 3. Need to keep money at home
They have become economically
7. Industrialization of a low-wage nation
interdependent and with the
potential for high demands. 4.Encouragement of capital
There were struggles
8. Maintenance of employment and accumulation
between the countries
reduction of unemployment
adopting the socialist
After World War II
Marxist approach
5. Maintenance of the standard of
9. National defense living and real wages.
The United States
and those who
sets out to instill the
followed a democratic 10. Increase of business size
ideal of capitalism in
capitalist approach to
as much of the world
economic
as possible. 11. Etaliation and bargaining
development

The United States
sets out to instill the
ideal of capitalism in
as much of the world
as possible.
The Marshall Plan
Trade Barriers
It helped rebuild
Europe Tariffs Quotas and Import Licenses Voluntary Export Restraints
It provided financial
and industrial Tax imposed by a A quota is a specific Is an agreement between
assistance for government on goods unit or dollar limit the importing country and
developmentEurope that enter through its applied to a particular the exporting country for a
borders. type of good. restriction on the volume
of exports.

Produced by: Liliana Ovando Pérez

Bibliographic:
Cateora, P.R., Gilly, M.C. y Graham, J.L. (2011) International Marketing. 15 ed. McGraw-Hill Irwin. Unit 2: “The Dynamic Environment of
International Trade” (p. 26-48)
 Antidumping Penalties Standards Monetary Barriers Voluntary Export Restraints

It is a new non-tariff barrier
Easing Trade that emerged as a way to
Restrictions keep foreign products out
of the market.
They are standards or
regulations designed to
protect the health, safety
and quality of the product
Are those imposed by the
government, to regulate
international trade
Is an absolute restriction
against the purchase and
importation of certain
goods and/or services
from other countries.

The Omnibus Trade

General Agreement General Agreement The International
and Competitiveness
on Tariffs and Trade on Tariffs and Trade Monetary Fund It plays an important role
Act
in the international trade
environment by helping to
maintain stability in
It is a global institution financial markets.
It is focused on helping The GATT treaty and It is an institution that created to help nations
companies become more subsequent meetings establishes many rules become and remain
competitive in world have produced governing trade among economically viable.
markets, as well as agreements significantly its 148 members,
correcting perceived reducing tariffs on a wide provides a panel of Helps countries seeking
injustice in business range of goods experts to hear and rule economic development
practices. on trade disputes Among its objectives is the and restructuring.
between members, and stabilization of exchange
issue binding decisions. rates

Protests against Among its objectives is the There is also the

Global Institutions stabilization of exchange establishment of freely
rates convertible currencies to
facilitate the expansion
and balanced growth of
It all started in 1999 due to Environmental concerns, worker
The IMF also lends money international trade.
unwanted consequences exploitation and domestic job losses,
of globalizationsovereignty cultural extinction, higher oil prices, and to members having
of nations diminished sovereignty of nations. trouble meeting financial
obligations to other
members.

Produced by: Liliana Ovando Pérez

Bibliographic:
Cateora, P.R., Gilly, M.C. y Graham, J.L. (2011) International Marketing. 15 ed. McGraw-Hill Irwin. Unit 2: “The Dynamic Environment of
International Trade” (p. 26-48)