Group 6

Annie Victoria

Ricky
Jay Jerry

Rose

Table of Contents
1. International Trade 2. Globalization and WTO

3. Europe Union

International Trade
The exchange of good and services between countries.
Consist of Import and Export.

The balance of trade in UK

The record of countrys trade dealing with the rest of world. Consist of Current account, Capital account and Financial account.
Current account Trade in goods Trade in services Income Tranfers Current balance Capital account billions -107.9 74.0 2.3 -23.1 -54.7 3.8

Financial account
Total

48.2
-2.7

http://ons.gov.uk

Export and Import of UK in ten years

http://economy.swo.org.uk/economic-data/balance-of-trade

Reason for current account deficit.

Overvalued exchange rates. 1 pound = 1,667 USD High consumer spending

Unbalanced economy.
Competitiveness.

In 2010, the current account deficit is 48,6 billion , or 3,3 % GDP.

The effect on golf equipment industry.

Control the price of products. Increase the investment on golf industry.

Develop the UK golf industry.

More competitive on the market.

Globalization
Process of international integration arising Transportation, telecommunications,: major factors in globalization

Interdependence of economic and cultural activities.

FACT OF WTO
The World Trade Organization Global international organization

Dealing with the rules of trade between nations.

Goal: to help producers of goods, services, exporters, and importers

The effect of globalization.

Increase the competitiveness and investment on UK business.

Decrease unemployment rate and more income

for local people

Price of product cheaper

GDP will increase

The economic growth

EUROPEAN UNION
- An economic and political union There are 28 members states Involving 7 institution

Purpose of European Union

There are 3 main purposes: To keep peace and security

To create a united Europe

To freely remove goods, service, capital and people.

1. Internal market
Basic goal is the development of a common market Create freedom : free circulation of goods, capital, people, and

services within the EU

2. Monetary Policy
The creation of a single currency (euro) became an official objective of the European Economic Community Build a single market Makes economic and political sense.

3. Competition Policy
Ensure the soundness of economic competition in the domestic

market EU.
Support for the competition in market.

4. Taxation Policy
Member States are free to choose the tax systems Elimination of tax obstacles to all forms of cross-border economic activity

5. Inflation Policy
Make sure that there are no sudden general rises in prices Through the Monetary Policy Committee (MPC) of the Bank of

England

6. Social Policy
Promote employment
Improve living and working conditions Provide an appropriate level of social protection