TheWorldEconomyTutor:QiangLuoStudent:SibeiLu1Introduction………
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………………………………32Gainsfrominternationaltrade………………………………………
33Thefreetrade……………………………………………/…………
34Absoluteandcomparativeadvantage…………………
35Reasonoftradebarriers…………………………………………46Tradebarriers……………………………
…………………………47UsesofTheWorldTradeOrganisation(WTO)………………
58TheroleofEuropeanUnioninpromotingtrade……………………
59Compositionofthebalanceofpayments……………………………510GeneraltrendsinUKtrade…………………………………………611Thebalanceofpaymentsaffectedbyexchangerates………………712AdvantagesanddisadvantagesofthesinglecurrencyoftheUK…
713Twoeffectsonindividualsandbusinessesofsinglecurrency……
714CharacteristicsofLessDevelopedCountries(LDCs)……………
815ThetwocurrentissuesthatfaceLDCs……………………………
816ImpactsofmultinationalsonNewlyIndustrializedCountri