Exercise 1: The WTO's International Trade Statistics is an annual report that provides comprehensive, comparable, and updated statistics on trade in merchandise and commercial services. This report allows for an assessment of world trade flows by country, region, and main product or service categories. Using the most recent statistics available, identify the top five countries that lead in the export and import of merchandise, respectively.
Exercise 2: Food is an integral part of understanding different countries, cultures, and lifestyles. In fact, your company is interested in importing Australian wine to the United States. However, you must first identify which Australian suppliers can provide specific types of wine for your burgeoning dinner cruise business. After searching the supplier directory, use specific criteria to compare the profiles of companies supplying both red and white. Decide which supplier is best for your company. Be sure to justify your conclusion.
Prepare a report with an analysis of your findings. For exercise 1 provide an analysis of the implications that for the United States may have the fact that those specific countries are the top importers and exporters of merchandise. For exercise 2 explain in detail the rationale of your choice. Start the report with an introduction and end the report with a conclusion. The report must have a cover page, citations and references as appropriate. Follow the APA guidelines.
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The forces of globalization and liberalization have increased trade between economies that has led to effective and efficient allocation of resources. As economies are taking initiatives to form trade pacts for free trade, consumers are the ultimate beneficiaries since they can explore a larger consumption bundle at prices which are lower than the prices prevalent without trade. This report presents an analysis of the top 5 importers and exporters of merchandise in the world. It also presents...
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