International Trade and Finance Speech Essay - 877 Words

Economics Paper 5 International Trade and Finance Speech Financial Pitfalls 2 Ladies and Gentlemen of the House, good afternoon to you all. I would like to thank you for the opportunity to speak to you this today on such an important topic – our economy. Our economy is in crises mode. To say that our economy has slowed down would be an understatement. The economy, to date, has taken a step backwards and the direction we are heading will take us from a record long-lasting recession to an all-out financial depression. Americans consume far more goods than we produce on a monthly basis. What that means, simply put, is that we continue to build more debt and get poorer with every passing month. Think of it†¦show more content†¦By producing quality parts at a cheaper rate is nothing new but the Chinese are being criticized by many for benefitting from illegal currency manipulation which leads to unfair trade policies. These policies pose a real threat to American automotive jobs in the near future. International trade has a significant effect on the Gross Domestic Product. The GDP is the true market worth of officially recognized goods or services produced in a country. Think about this for a moment – if you were to go into a department store and found two shirts that were identical in color, material and stitch but one was priced ten dollars higher than the other. Which one would you choose? Easily you would pick the cheaper product and that is the issue American consumer’s face each day. Larger corporations have the ability to mass-produce products and pay their workers far less than those here in the states. They do this across the globe in what is called slave labor. As a result, there are fewer jobs available in the United States, more across the globe, and more goods being imported into the country and a more dramatic effect on our economy. Financial Pitfalls 4 We have exhausted our means to generate additional income for our nation through tariffs and sanctions on goods being brought into the country. The taxes levied on goods and the limits placed on incoming products and goods can impact and possibly obstruct international trade. ThisShow MoreRelatedEco/372 International Trade and Finance Speech Essay1268 Words   |  6 PagesInternational Trade and Finance Speech International Trade and Finance Speech Foreign exchange rates and International trade are important aspects of economics. The United States macroeconomy’s health is determined by these concepts and their factors. International Trade Exports and imports are what encompass international trade balance. When there are more exports over imports a trade surplus happens and when there are more imports over exports a trade deficit happens. 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