CHRIST THE KING COLLEGE

Calbayog City, Western Samar

INTERNATIONAL BUSINESS AND TRADE
WITH FIELD TRIP
BACHELOR OF SCIENCE IN
ACCOUNTANCY

CHAPTER 1: EVOLUTION OF
INTERNATIONAL TRADE

LEARNING OUTCOMES
AT THE END OF THE CHAPTER, THE
STUDENTS ARE EXPECTED TO:

1. EXPLAIN HOW THE STANDARD

THEORY OF INTERNATIONAL TRADE
DEVELOPED.
2. DISCUSS THE MEANING OF TRADE
SURPLUS AND ELABORATE ON
INDUSTRIAL CAPITALISM.
3. DIFFERENTIATE FRE TRADE FROM
MERCANTILISM, ABSOLUTE
ADVANTAGE FROM COMPARATIVE
ADVANTAGE, AND MARGINAL COST
FROM OPPORTUNITY COST.
4. TAKE A STAND ON WHETHER
INTERNATIONAL BUSINESS AND
TRADE IS BENEFICIAL OR NOT.
5. EXPLAIN THE MEANING OF BARTER,
GIVE EXAMPLES, AND DISCUSS ITS
ADVANTAGES AND DISADVANTAGES.
6. DISCUSS THE HISTORY OF
INTERNATIONAL TRADE FROM THE
BARTER SYSTEM TO THE CURRENT
TIME;
7. TRACE THE ORIGIN OF MONEY, GIVE
EXAMPLES OF ITEMS USED AS
MONEY, EXPLAIN THE MEANING OF
MINT AND MINTING, AND DISCUSS
THE ROLE OF CHINA, LYDIA,
CANADA, AND FRANCE IN THE
DEVELOPMENT OF MONEY;
8. ELABORATE ON THE DEVELOPMENT
OF THE PHILIPPINE CURRENCY AND
TRACE ITS HISTORY.
9. EXPLAIN THE MEANING OF MOBILE
PAYMENTS, ELUCIDATE ON THE
MEANING OF MOBILE WALLETS, AND
DISCUSS “ AUTO PAY” AND DIRECT
CARRIER BILLING”;
 10. ELUCIDATE ON THE MEANING OF
DIGITAL/VIRTUAL CURRENCY AND
DISCUSS THE DIFFERENT TYPES OF
CRYPTOCURRENCIES.

The country Lydia is the western

part of Turkey. Its center consists
of the city of Sardes and the lofty
valley of the river Hermus. The
country is fertile, but its greatest
asset is the small river Pactolus,
which carries gold.

Why China is a good place

to do business?
In addition to its low labor
costs, China has become
known as "the world's
factory" because of
its strong business
ecosystem, lack of
regulatory compliance, low
taxes and duties, and
competitive currency
practices.

With a population of over

38 million, Canada has the
ninth-largest economy
globally and is home to a
highly skilled workforce.
Its strong economy, low
corporate taxes, and
geographic
accessibility make it an
ideal place for businesses
to invest and grow.
The French economy goes beyond its
well-known economic sectors of
luxury goods and agrifood, and
has strong banking, insurance,
energy and automotive industries as
well. France is the third-largest
economy in the European Union, the
6th largest exporter of goods, and the
4th largest exporter of services.

The stunning Alpine

mountains, natural lakes,
world class event space
and fine dining make
Geneva a contender to lure
business travelers to
meetings in Europe.

What is Switzerland known

for in business?
Switzerland attracts and
nurtures some real
innovators, with
the technology,
pharmaceutical,
biotechnology and science
sectors being big
employers.

Cryptocurrencies

1. a digital currency in which

transactions are verified and
records maintained by
a decentralized system
using cryptography, rather than by
a centralized authority.
"decentralized cryptocurrencies
such as bitcoin now provide an
outlet for personal wealth that is
beyond restriction and
confiscation".
INTRODUCTION:

THE WORLD TRADE ORGANIZATION

(WTO) IS THE ONLY GLOBAL
INTERNATIONAL ORGANIZATION
DEALING WITH THE RULES AND TRADE
BETWEEN NATIONS. AT ITS HEART ARE
THE WTO AGREEMENT NEGOTIATED AND
SIGNED BY THE BULK OF THE WORL’S
TRADING NATIONS AND RATIFIED IN
THEIR PARLIAMENTS.

ROLES OF WTO:

1. IT OPERATES A GLOBAL SYSTEM OF

TRADE RULES.
2. IT ACTS AS A FORUM FOR
NEGOTIATING TRADE AGREEMENTS.
3. IT SETTLES TRADE DISPUTES
BETWEEN ITS MEMBERS.
4. IT SUPPORTS THE NEEDS OF
DEVELOPING COUNTRIES.
GENERAL AGREEMENT ON TARIFFS AND
TRADE OR ( GATT), WHICH WAS
ESTABLISHED BY A MULTI TREATY OF 23
COUNTRIES IN 1947 AFTER THE WORLD
WAR II IN THE WAKE OF OTHER NEW
MULTILATERAL INSTITUTIONS
DEDICATED TO INTERNATIONAL
ECONOMIC COOPERATION- SUCH AS THE
WORLD BANK FOUNDED IN 1944 AND THE
INTERNATIONAL MONETARY FUND
FOUNDED IN 1944.

WORLD TRADE ORGANIZATION IS HEAD

QUARTERED IN GENEVA, SWITZERLAND.
WTO HAS 164 MEMBERS AND 22
COUNTRIES ARE IN THE PROCESS OF
ACCEDING TO IT, MAKING IT A
VERITABLY UNIVERSAL MULTILATERAL
INSTITUTION.

Start a Business Rankings



India

#1 in Start a Business Rankings

#2 out of 85 in 2022

READ MORE
Located in Southeast Asia, India sits on a peninsula that extends between the
Bay of Bengal and the Arabian Sea. The country, the birthplace of Hinduism
and Buddhism, is the world’s second most-populous nation after China, and has
roughly one-sixth of the world’s population. After years of nonviolent struggle
against British rule, India gained its independence in 1947.

GDP

$3.39 trillion

POPULATION

1.42 billion

GDP PER CAPITA, PPP

$8,379


Thailand

#2 in Start a Business Rankings

#3 out of 85 in 2022

READ MORE
Thailand, which translates to “land of the free,” is the only Southeast Asian
nation that did not encounter European colonization. Located just above the
equator, the nation is wedged into the Indochina peninsula with
neighbors Myanmar, Laos and Cambodia and has an arm that extends out
to Malaysia.

GDP

$495 billion

POPULATION

71.7 million

GDP PER CAPITA, PPP

$20,672


China

#3 in Start a Business Rankings

#1 out of 85 in 2022

READ MORE
Home to one of the world’s oldest civilizations, China has been ruled by the
Communist Party since 1949, when the nation was established as the People’s
Republic of China. The country is the world’s most populous and is considered
the second-largest by land mass.

GDP

$18.0 trillion

POPULATION

1.41 billion

GDP PER CAPITA, PPP

$21,476


Mexico

#4 in Start a Business Rankings

#6 out of 85 in 2022

READ MORE
Bordered by the Pacific Ocean on its West and the Gulf of Mexico to its East,
Mexico is the third-largest country in Latin America and has the second-largest
economy. The nation is one of contrasts, with terrain encompassing arid lands
and Caribbean coastlines and a society that has extremes of wealth and poverty.
Once home of the Maya, Aztec and other ancient civilizations, Mexico was
ruled by Spain starting in the early 16th century. Administered by Spain for
three centuries, the country achieved independence early in the 19th century,
first as a short-lived empire and then as a republic in 1824.

GDP

$1.41 trillion

POPULATION

128 million

GDP PER CAPITA, PPP

$21,512

United States

#5 in Start a Business Rankings

#10 out of 85 in 2022

READ MORE

The United States of America is a North American nation that is the world’s
most dominant economic and military power. Likewise, its cultural imprint
spans the world, led in large part by its popular culture expressed in music,
movies and television.

GDP

$25.5 trillion

POPULATION

333 million

GDP PER CAPITA, PPP

$76,399


Philippines

#6 in Start a Business Rankings

#8 out of 85 in 2022

READ MORE
Thousands of islands in the South China Sea comprise the tropical nation of the
Philippines. The land of beautiful beaches and abundant biodiversity has long
been plagued by political instability, but its resilient economy continues to
improve and push ahead of others in the region. The Republic of the
Philippines claimed independence from Japan after World War II in 1946 with
assistance from the United States, which had exercised colonial rule over the
nation earlier in the century. American influence and ties remain prevalent in
the Filipino society, although the relationship has become more strained since
the 2016 election of President Rodrigo Duterte.

GDP

$404 billion

POPULATION

116 million

GDP PER CAPITA, PPP

$10,133

Vietnam

#7 in Start a Business Rankings

No Change in Rank from 2022

READ MORE

Curving along the eastern edge of the Indochina Peninsula, Vietnam shares
long stretches of its borders with Cambodia, Laos and the South China Sea.
Occupied by the French until 1954, a communist state emerged in 1975 after
the People’s Army of the north and Viet Cong guerilla fighters defeated the
anti-communist south. The bitter war garnered international attention and
participation, especially from the United States, at a critical juncture in the Cold
War era in which communism was gaining ground on the global stage. “Doi
moi” economic policy reforms beginning in 1986 have helped The Socialist
Republic of Vietnam transition to a more modern, competitive nation.

GDP

$409 billion

POPULATION

98.2 million

GDP PER CAPITA, PPP

$13,457


Brazil

#8 in Start a Business Rankings

#9 out of 85 in 2022

READ MORE
Occupying half of South America’s land mass, Brazil is the giant of the
continent – both in size and in population. Brazil’s history is filled with
economic turmoil, veering from boom to bust, and its culture is a melting pot
that has traditionally welcomed the world. Brazil is one of the world’s top
tourist destinations. However, the country in the 21st century confronts serious
questions touching on poverty, inequality, governance and the environment.

GDP

$1.92 trillion

POPULATION

215 million

GDP PER CAPITA, PPP

$17,822


Malaysia

#9 in Start a Business Rankings

#4 out of 85 in 2022

READ MORE
Located in two separate regions in the South China Sea, Malaysia is a small
country with a fast-growing economy. Once a British colony, the country is
home to about 29 million people, many of whom live in or near the capital city
of Kuala Lumpur. Located on an ocean trade route, Malaysia came under the
influence of China, India, the Middle East and eventually Great Britain in the
late 18th century. The Federation of Malaysia was formed in 1948 by the
unification of former British-ruled territories along the Malay Peninsula. In
1963, the former British colonies of Singapore, Sabah and Sarawak, joined the
Federation, thereafter known simply as Malaysia.

GDP

$406 billion

POPULATION

33.9 million

GDP PER CAPITA, PPP

$33,434


Spain

#10 in Start a Business Rankings

#14 out of 85 in 2022

READ MORE
 A number of independent kingdoms united in 1492 to form the Kingdom of
Spain, a cultural patchwork that continues to shape the modern nation’s
dynamic identity. Spain comprises much of the Iberian Peninsula, which it
shares with Portugal on the southwestern edge of Europe. It also includes the
Balearic Islands in the Mediterranean Sea, the Canary Islands in the Atlantic
Ocean and two enclaves in North Africa.

GDP

$1.40 trillion

POPULATION

47.6 million

GDP PER CAPITA, PPP

$45,825

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Switzerland

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