International Trade: Traditional Theory, Current Research, and Practical Application
The Owner's Manual for Capital Accumulation
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The Five Wars of International Trade Resulting From the Spread of Globalization. Naim (2003) noted that the highest profile economic, international trade war was described as the war regarding illegal drugs. The value, purportedly advertised by the United Nations in the late 1990s, was alleged to be equivalent to the GDP of the country of Spain; close to one-half trillion dollars or about eight percent of the entire world's legitimate, international trade (annual value). The essential consideration was concluded to be that, even if the leaders of all of the drug cartels were imprisoned or killed, there was so much money involved, that there were people standing in line to assume those leadership positions, in the crime families and organizations, to continue the management of the illegal revenue stream. The second of the five wars involved the movement and trade of illegal arms. The United Nations contended that about three percent of all small arms in use, in the world, were in use by legitimate law enforcement or government organizations; such as the police. About one-fifth of all arms international trade was illegal guns and it generated about one billion dollars annually for the crime cartels and organizations. Governments, due to the proliferation of such arms trades, and through organizational or government corruption, were demonstrated to be ineffective and basically without recourse in the apprehension or prosecution of these arms dealers who sell illegal arms on the international markets. The third war was discussed to be the war of the sale of stolen intellectual property: music CDs; books; and items such as computer software. Although the other wars have some value for discussion, the revenue generated did not compare with the first three wars already discussed. The other minor illegal wars being waged on the international trade front were: "human organs;" "endangered species;" stolen art;" and "toxic waste" (pp. 30-32).
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About the Book
There were basic reasons for the promotion of the U.S. dollar as petroleum currency world-wide. Since the foreign powers that purchased petroleum, just like the United States, needed money to spend, it was in the interest of American interests abroad, to have those purchases made with U.S. dollars. In this way, when foreign nations were looking for venues for capital investment, the money would return home to American interests. The main reason was that when the U.S. dollars returned to America, that capital would then be invested in American investment interests.
About the Author
Nicholas Jewczyn (pronounced JEFF' - sin) was graduated from Southern Illinois University with a practical business degree in remedial, front-line management. His Master of Business Administration was taken at the New York Institute of Technology where he was graduated at the top of his class with a cumulative 3.95 GPA and major specializations in Finance and Economics. While at N.Y.I.T., he was inducted into Omicron Delta Epsilon for outstanding achievement in the field of Economics as a graduate student (2007). After a stint of several terms as a college professor, teaching 7 courses per term in the fields of Accounting, Business, Economics, and Finance (at three college campuses onsite), Mr. Jewczyn was inducted into Phi Delta Kappa for excellence in teaching at the collegiate level (2009). His Ph.D. program is in International Business.