Monday, February 24, 2020

Bilateral Trade Agreements between the EU and the Philippines Essay

Bilateral Trade Agreements between the EU and the Philippines - Essay Example International trade traces its roots from the modern economic concepts popularized by economists such as David Ricardo. Particularly, it has its foundation on the "principles of comparative advantage" which supports international trade (Mankiw). Introduced by David Ricardo in 1817 through his book On the Principles of Political Economy and Taxation, comparative advantage posits that trade can create value for both countries even if one has the fewer resources in the production of all goods. Using the production possibilities frontier, Ricardo was able to prove this, achieving a significant breakthrough in the field of international economics. Practically, Ricardo believes that given the situation, both countries can still gain by having the less efficient country specialize in the production and exportation of the commodity in which its absolute disadvantage is smallest and import the product in which it has its greatest absolute disadvantage. The commodity in which one country has the least absolute disadvantage can be thought of as one in which it has a comparative advantage. ... Therefore, if each 'economic agent' (firm, person, country) does what he, she, it does best, and each trades some of the results for what others do best, then everyone can be better off in terms of the amount of goods and services available to them" (Mackintosh). This argument that asserts the gains from trade is not only concerned about international trade; it is also an issue of most of the debates in the politics of economic policy. It is an argument for freedom of specialization and trade (Mackintosh). In a high-income and low-income country comparison, the book, Making the International: Economic Interdependence and Political Order highlighted that in a two-commodity example of food and pills, specialization will benefit both countries as each will be producing the commodity with the least opportunity cost, simply saying that trade can help increase income even for the low-income countries (Mackintosh). In recent years, there is an observed rise in the number of bilateral trade agreements between countries. Experts say that for a powerful country like the USA, "smaller FTAs accomplish the goal of liberalization and the expansion of markets for U.S. goods" in the absence of a broader agreement like the Doha round (MacMahon). On the part of the smaller countries, bilateral trade agreements increase the local employment and provide a better climate for investors from powerful nations (MacMahon). A significant general reason for the rising popularity of bilateral trade agreements is the disenchantment with the progress with liberalization at the multilateral level. The difficulties and failures associated with concluding the Doha round have simply supported this view.

Saturday, February 8, 2020

Service Encounter Journal and Analysis Personal Statement

Service Encounter Journal and Analysis - Personal Statement Example I stopped at this convenience store to buy fuel and get a newspaper. I was involved with an employee at the check-out register. My overall satisfaction is rated at 2, because the cashier was upset when I misspoke about how much money I had, so she had to cancel the transaction on her register. Although I apologized for causing her the extra work, she did not look appeased, and made a remark to her coworker about it as I left. I am definitely not going to purchase from them again (score of 1). I visited this store to pick up a few groceries and had two interactions with employees: one directed me to the right part of the store to find cake mix, and the cashier rang up my purchase. My overall satisfaction is rated at 7, because the employee who directed me completely stopped what he was doing to talk, made eye contact, and appeared pleased to help. Also, the cashier let me use the special discount card they keep for customers who forgot theirs. They were professional and efficient, so I will definitely return (score of 7). My object in visiting the bank was to purchase two savings bonds. The bank uses tellers to complete such transactions. My overall satisfaction is rated at 2, because the teller clearly did not want to conduct this lengthy business. I wrote down important information for her, but she copied it incorrectly into the computer, so it had to be changed. I only had time to buy one bond, and then had to leave because I was going to be late for another appointment. Perhaps I could have come in the middle of the morning when the bank was not so busy. The teller could have been more efficient and not shown her displeasure. Still, my accounts are there, so I rate my likelihood to return at 7. Journal Entry: 5 Week: 5 Firm: Bill's Barber Shop Type of Service: Personal care My hair was getting long, so I visited the shop for a trim. Employee involvement came from the person who greeted me and the barber who cut my hair. My overall satisfaction is rated at 4. I received a good haircut at a good price, but it took a very long time. The barber should have kept working while he talked to me, but instead, liked to stop and make eye contact for every sentence! I could have asked the barber to work faster, or he could have sensed that I felt it was taking too long. My likelihood of returning is rated at 1. There are other shops in town. Journal Entry: 6 Week: 6 Firm: Nationwide Insurance Co. Type of Service: Auto and home insurance It was time to make my car insurance payment, and I dealt with a representative who accepted my check and gave me a receipt. She also set me up for electronic fund transfers. My overall satisfaction is rated at 6, because she was quick, efficient, and courteous. There was nothing she or I could have done to make the transaction better. My likelihood of returning is rated 7. They have earned my business and loyalty. Journal Entry: 7 Week: 7 Firm: US Postal Service Type of Service: Package delivery I had to ship a large package, and the