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Trade Wars and Tariff Woes International trade which is the exchange of goods and services (imports and exports) between countries, could give them access to resources and products they otherwise would not be able to use. Countries could export goods in order to import items which they cannot produce themselves. By trading internationally, not only the consumers enjoy larger variety of goods and services, but also resulting increased competition can lead to lower prices and more product innovation, which by having more choice, better quality and cheaper products would raise the standard of living. Markets abroad where there is an increase in demand for their products will allow firms to exploit in large scale production. Also firms will be exposed to new ideas and skills as multinational corporations might bring new manufacturing skills to a developing country. It allows countries to specialise in goods and services they are best at ...

Apr 13, 2025 Posted by eLanka admin In Articles Tagged Developing countries, international trade, Trade Wars and Tariff Woes, World Trade Organisation

Trade wars and Tariff woes – By Dr. Gnana Sankaralingam International trade which is the exchange of goods and services (imports and exports) between countries, could give them access to resources and products they otherwise would not be able to use. Countries could export goods in order to import items which they cannot produce themselves. By trading internationally, not only the consumers enjoy larger variety of goods and services, but also resulting increased competition can lead to lower prices and more product innovation, which by having more choice, better quality and cheaper products would raise the standard of living. Markets abroad where there is an increase in demand for their products will allow firms to exploit in large scale production. Also firms will be exposed to new ideas and skills as multinational corporations might bring new manufacturing skills to a developing country. It allows countries to specialise in goods and ...

Apr 13, 2025 Posted by eLanka admin In Articles, Dr. Gnana Sankaralingam Tagged balance of trade, Free trade vs protectionism, global trade policies, imports and exports, international trade, trade agreements, trade barriers, trade liberalisation, trade surplus and deficit

WILL PRESIDENT TRUMP’S TARIFF POLICY BENEFIT USA ? – By N.S.Venkataraman Ever since Trump has taken over as President of USA for second term a few weeks back, he has spoken about imposing tariff against one country or the other more than any other single subject. Trump seems to think that imposing tariff on the imported products from a few selected countries is one sure way to achieve his pet target “ Make America Great Again”. Obviously, he is under the impression that every country is gaining at the cost of USA in one form or the other in trade terms and therefore , he appears to justify imposing tariff on the imports of goods and services from other countries as appropriate measure. In the same way, he seems to be assuming that other countries will bend at his “tariff command” without questioning . While Trump is entitled to say ...

Feb 28, 2025 Posted by eLanka admin In Articles, N.S.Venkataraman Tagged BRICS economy, BRICS trade strategy, economic competition, economic policy, global economy, global markets, global trade tensions, international commerce, international trade, tariffs and trade, trade balance, trade policies, trade war, US tariff policy, US trade deficit, US-China trade war

Achieving Economic Stability in a Country – By Dr. Gnana Sankaralingam Economic stability is a situation where all economic resources of a country are available to its citizens. An economy with a fairly constant output growth and low and stable inflation will be considered stable. It helps achieving objectives like price stability, reducing unemployment, sustainable growth and balance of payment. Disruptions in economy affect the stability through fiscal deficits, recessions, political upheavals, policy changes and global markets. Government constantly monitors and eliminates deviations in an economy to keep it stable and growing. Common indicators of economic stability are gross domestic product (GDP), human development index (HDI), consumer prices, trade deficits, employment rate, fiscal deficit, rate of inflation, public expenditure, interest rate and level of debt. Maintaining economic stability contributes to growth and development, raises living standard, improves job opportunities and creates confidence in the minds of investors who are ...

Feb 27, 2025 Posted by eLanka admin In Articles, Dr. Gnana Sankaralingam Tagged economic growth, economic stability, financial institutions, financial stability, fiscal deficit, GDP growth, human development index, inflation rate, interest rates, international trade, monetary policies, public expenditure, Skills development, trade deficit, unemployment rate