scholarly journals The phenomenon of cyclical fluctuations on the pork market - global perspective

Management ◽  
2016 ◽  
Vol 20 (1) ◽  
pp. 382-396 ◽  
Author(s):  
Sebastian Stępień ◽  
Jan Polcyn
Keyword(s):  
Economic Integration ◽  
World Trade ◽  
World Economy ◽  
Global Perspective ◽  
Time Range ◽  
Local Conditions ◽  
Cyclical Fluctuations ◽  
The World ◽  
Pig Meat ◽  
Country Specific

Summary The aim of publication was to recognize the characteristics and morphology of today’s hog cycle. The hypothesis was that known in the economy since the second half of the nineteenth century hog cycle is also a typical phenomenon in the contemporary economy. It is also claimed that cyclical supply changes of pig meat are not synchronized between countries. Fluctuations in production are country-specific and are influenced by local conditions. While in the case of pork prices there is a characteristic broad convergence of cycle between countries. Development of world trade exchange and economic integration of groups of countries lead to uniformity of cyclical changes in prices. The study included the world economy and eight selected countries with the largest share in the global production and/or foreign trade. The time range of empirical analysis (analyzing fluctuations in supply and prices) concerned the period 1991-2012.

The Disintegration of the British Empire as a Restructuring of the Geoeconomic System (1947-1972)

2009 ◽  
pp. 96-109
Author(s):  
V. Sokolov
Keyword(s):  
United Kingdom ◽  
British Empire ◽  
Economic Integration ◽  
World Trade ◽  
World Economy ◽  
High Growth ◽  
The United Kingdom ◽  
Mother Country ◽  
The World ◽  
Trading Partners

The article considers Great Britain as a "country-system" which organizes global economic structures. The article shows how the United Kingdom was gradually losing its exclusive position in the world trade. The high growth rates in the countries of continental Europe enhanced their attractiveness as trading partners and eventually caused Britains reorientation from preferential links with the countries of the Commonwealth to the European economic integration. The article criticizes widespread opinion that the refusal from colonialism and imperial ambitions was the consequence of developing free trade. Using the heritage of the Empire the United Kingdom ensured more favorable position in the world economy than it could get according to the competitiveness of the mother country.

scholarly journals Cyclic component of world trade development

2020 ◽  
Vol 10 (20) ◽  
pp. 62-70
Author(s):  
Natalia Balabanova ◽  
Keyword(s):  
International Trade ◽  
World Trade ◽  
World Economy ◽  
Structural Changes ◽  
New Technologies ◽  
Average Rate ◽  
Aggregate Demand ◽  
Cyclical Fluctuations ◽  
The World ◽  
National Economies

The paper examines the cyclical and structural changes in world trade that affect its development and dynamics. It is determined that each of the stages of development of international trade is characterized by certain factors and development trends; features that reflect the level of internationalization of production and the role of international trade in the development of national economies; priority methods of regulating foreign trade by most countries. The study of the dynamics of world trade since 1800, taking into account its general upward trend, has identified a certain cycle of its development, which at different times was caused by changes in the structure of productive forces, development of new technologies, actions and factors of political and military nature. The fluctuations obtained as a result of the study have different durations and reach the lowest points of fall and the highest points of growth of world trade at different intervals. The most stable in terms of frequency and amplitude of fluctuations in world trade are the periods from mid-1850 to the First World War and 1950-1974. The most critical is the period 1915-1938, for which cyclical fluctuations in world exports are characterized by the highest amplitude. Also, statistical analysis of the data allows to determine the cyclical development of the world economy and its synchronicity with the cyclical fluctuations of world trade with the definition of certain cycles equal to 15-18 years. The current stage is characterized by a slowdown in world export growth. In 2009, the decline in economic activity was the largest among all global recessions. The data show that trade is not even keeping pace with world production growth, and over the past eleven years its average rate has been 2.2% (with the exception of strong surges in 2010-2011) against 3.07% of world GDP growth. The lack of trade dynamism in the last ten years is explained by the weakness of aggregate demand, especially in the euro area. The slowdown in world trade is also linked to the completion of the integration of China and Central and Eastern Europe into the world trading system. The third explanation is the increasing appeal of countries around the world to protectionist measures in international trade in order to stabilize national economies. Many countries have temporarily abandoned normal trade conditions and opted for a more restrained format of mutual trade with other countries. Determining the prospects for the development of the world economy and international trade, WTO experts provide a range of forecast forecasts for 2020 - from 5% to 11% and from 8% to 20.4%, respectively.

The World Economy

2003 ◽  
Vol 185 ◽  
pp. 9-16
Keyword(s):  
Latin American ◽  
Euro Area ◽  
World Trade ◽  
World Economy ◽  
Oil Industry ◽  
Private Sector Investment ◽  
Percentage Points ◽  
The Us ◽  
The World ◽  
Dollar Depreciation

The outlook for world growth this year has deteriorated since April, due to a sharp contraction in world trade in the first quarter of the year and failure to sustain the revival in private sector investment seen in the fourth quarter of 2002. We have as a consequence revised our projections for world growth this year down by ¼ percentage point. This reflects sharp downward revisions of ½–¾ percentage points in the Euro Area and Canada, both of whose exchange rates have continued to appreciate in effective terms, while the outlook for the US and Japan is broadly unchanged. Growth in Japan and the Euro Area stagnated in the first half of 2003, with recessions in Germany, Italy, the Netherlands and Austria appearing likely. The US and Canada, on the other hand, continued to expand, albeit more slowly than in the second half of 2002. Following two years of exceptional weakness, Latin American growth has started to revive, although Venezuela is still suffering from the 2 month stoppage in the oil industry earlier this year and Argentina has lost competitiveness due to a strong appreciation against the dollar. Growth has slowed in several Asian economies, notably South Korea, but China continues to expand rapidly, spurred by the competitiveness impact of the dollar depreciation and infrastructure preparations for the 2008 Olympics. This has helped sustain export growth from the rest of Asia despite the more widespread slowdown in world trade.

The world economy

1998 ◽  
Vol 165 ◽  
pp. 35-42
Author(s):  
Nigel Pain
Keyword(s):  
Capital Market ◽  
World Trade ◽  
Global Economy ◽  
World Economy ◽  
Domestic Demand ◽  
The World ◽  
Asian Economies ◽  
Trade Growth ◽  
The Impact ◽  
The Capital Market

Developments in the Asian economies have clearly begun to be felt in the wider global economy in recent months. It has always been expected that the OECD economies would be affected by the aftermath of the capital market turmoil last year, although the timing and magnitude of the impact was difficult to predict. Domestic demand in the affected Asian economies has proved much weaker than expected, with the effects magnified by a continued downturn in Japan. GDP fell by 5¾ per cent in Korea in the first quarter of this year and by 1¼ per cent in Japan. The aggregate volume of merchandise imports in Asia is expected to decline by around 5½ per cent this year, with falls of up to 25 per cent in countries such as Korea, Thailand and Indonesia. This largely accounts for our projected decline in world trade growth to under 6 per cent this year from an estimated 9¾ per cent in 1997.

scholarly journals World trade and regional trade orientation in the context of forthcoming transatlantic trade and investment partnership

Equilibrium ◽  
2015 ◽  
Vol 10 (3) ◽  
pp. 105 ◽  
Author(s):  
Elżbieta Czarny ◽  
Paweł Folfas
Keyword(s):  
World Trade ◽  
World Economy ◽  
Dominant Role ◽  
The United States ◽  
The European Union ◽  
Regional Trade ◽  
The World ◽  
Trade And Investment ◽  
The U.S ◽  
The Eu

We analyse potential consequences of the forthcoming Trade and Investment Partnership between the European Union and the United States (TTIP) for trade orientation of both partners. We do it so with along with the short analysis of the characteristics of the third wave of regionalism and the TTIP position in this process as well as the dominant role of the EU and the U.S. in the world economy – especially – in the world trade. Next, we study trade orientation of the hypothetical region created in result of TTIP. We use regional trade introversion index (RTII) to analyze trade between the EU and the U.S. that has taken place until now to get familiar with the potential changes caused by liberalization of trade between both partners. We analyze RTII for mutual trade of the EU and the U.S. Then, we apply disaggregated data to analyze and compare selected partial RTII (e.g. for trade in final and intermediate goods as well as goods produced in the main sectors of economy like agriculture or manufacturing). The analysis of the TTIP region’s orientation of trade based on the historical data from the period 1999-2012 revealed several conclusions. Nowadays, the trade between the EU and the U.S. is constrained by the protection applied by both partners. Trade liberalization constituting one necessary part of TTIP will surely help to intensify this trade. The factor of special concern is trade of agricultural products which is most constrained and will hardly be fully liberalized even within a framework of TTIP. Simultaneously, both parties are even now trading relatively intensively with intermediaries, which are often less protected than the average of the economy for the sake of development of final goods’ production. The manufactured goods are traded relatively often as well, mainly in consequence of their poor protection after many successful liberalization steps in the framework of GATT/WTO. Consequently, we point out that in many respects the TTIP will be important not only for its participants, but for the whole world economy as well. TTIP appears to be an economic and political project with serious consequences for the world economy and politics.

The World Economy

1997 ◽  
Vol 159 ◽  
pp. 28-56
Author(s):  
Julian Morgan ◽  
Nigel Pain ◽  
Florence Hubert
Keyword(s):  
World Trade ◽  
World Economy ◽  
Fiscal Consolidation ◽  
The Third ◽  
The North ◽  
External Demand ◽  
The Us ◽  
The World ◽  
World Economic ◽  
The Uk

There are now widespread signs that activity in the world economy has begun to recover steadily from the pause in growth apparent at the beginning of 1996. Output rose by 0.6 per cent in the North American economies in the third quarter of last year and by 0.8 per cent in Europe. Business and consumer sentiment has improved gradually in recent months in most of the major economies. We expect world economic growth to pick up further over the course of this year as the contractionary effects from the downturn in world trade and prolonged inventory adjustment come to an end and as the effects from a more relaxed monetary stance begin to outweigh those from ongoing fiscal consolidation. Recent currency movements should help to stimulate external demand in Germany, France and Japan, but may act to constrain growth within the UK, Italy and the US. For both this year and 1998 we expect growth of around 2½ per cent per annum in the OECD economies.

The Institutions of TPP11: Back to the Future?

2019 ◽  
pp. 523-536
Author(s):  
Robert Howse
Keyword(s):  
Economic Integration ◽  
Regional Integration ◽  
World Trade ◽  
Divide And Conquer ◽  
Economic Interests ◽  
Business Interests ◽  
The World ◽  
The Face ◽  
Critical Account ◽  
Governance Institutions

This chapter canvasses the institutions of the Trans-Pacific Partnership (TPP)—left entirely unchanged in TPP11—to assess their cumulative potential to contribute to ties of solidarity among regulatory elites and consequently foster (mega)regional integration. The promise of treaty institutions as conduits of sanguine economic integration, the narrative championed by TPP’s architects, is contrasted with a more critical account in which plurilateral institutions are seen to serve as mechanisms to advance particular economic interests in the face of opposition in the almost-universal trade governance institutions such as the World Trade Organization (WTO). This “divide and conquer” strategy, so the argument goes, dominates in TPP’s institutions, which remain generally weak and unconnected to existing frameworks in Asia and beyond. But they also vary significantly between stronger mechanisms primarily for business interests and almost entirely aspirational efforts in more social areas such as environment, labor, and development.

scholarly journals The competitiveness of Czech agrarian trade within the context of the global crisis

2013 ◽  
Vol 59 (No. 4) ◽  
pp. 183-193 ◽  
Author(s):  
L. Smutka ◽  
J. Burianová
Keyword(s):  
Czech Republic ◽  
World Trade ◽  
World Economy ◽  
Agricultural Trade ◽  
High Rate ◽  
The Czech Republic ◽  
The World ◽  
Territorial Structure ◽  
Merchandise Trade ◽  
Very High

World trade underwent a significant shock within the recent years, which caused a decline in the world economy primarily in the year 2009. Within the following years (2010 and 2011), the high rate of growth from the years preceding the crisis could not be restored. The crisis had an impact on all segments of the merchandise trade, whereby the trade in agricultural and food products was affected the least by the crisis. In the case of the Czech Republic, the crisis of the global and national economy was reflected in the case of agricultural trade primarily by the way of a decline in the rate of the growth of export, which was very high in the period prior to the crisis. As far as the territorial structure and commodity structure of agricultural trade is concerned, their development in the years 2008–2011 was not affected in any largely significant manner. In relation to the main objective of this article, which was to identify the effects of the crisis on the competitiveness of Czech agricultural trade, it may be stated that the crisis itself did not worsen the competitiveness of agricultural trade in any significant manner.  

Von einer Neuen Weltwirtschaftsordnung zu einer neuen Weltfreihandelsordnung oder mehr Freihandel statt mehr Gerechtigkeit

1992 ◽  
Vol 36 (1) ◽  
pp. 32-40
Author(s):  
Wolfgang Kessler
Keyword(s):  
Trade Policy ◽  
Free Trade ◽  
World Trade ◽  
World Economy ◽  
World Wide ◽  
World Market ◽  
Industrialized Countries ◽  
The World ◽  
Free Trade Policy

Abstract Wolfgang Kessler gives a report on the latest developments ofthe GATT negociations. The failure ofthe Uiruguay round in the autumn of 1990 and the irksome attempts at reanimation are depicted as a result of the strategy ofthe industrialized countries to bargain for their interests by demanding an extension oftheir free trade policy on additional parts of the world market. Kessler contrasts this strategy with a model of an ecologically and socially regulated world trade founded on world-wide agreed upon treaties that focus on a sustainable world economy.

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