It's 5:23PM on Wednesday already, I am catching up my diary for Monday now.
Coming back home pretty late on Monday night, I ate the dinner and slept for several hours, then went to gym to workout until almost midnight.
While catching up my diaries for the weekend, I chatted with my classmates at CUMT until 2:00 in the morning on Tuesday.
As I had shared before, International Trade changes the scenario of relationship of domestic demand and supply. It is based on one country's comparative advantage, which is driven by three sources:
- Differences in Climate
- Differences in Factor Endowments
- Differences in Technology
Our country has been following free markets concepts very well compared to the rest of the world. There are two major protections from International Trade:
- Tariff
- Import Quota
Two major challenges to globalization are:
- Inequality
- Outsourcing
Economic Plan of my 2016 Presidential Campaign for International Trade is while pushing other nations to open their markets for competitions, we should tight our import control to protect our citizens.
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