What is a trade deficit? Well, it all has to do with imports and exports and, well, trade. This week Jacob and Adriene walk you through the basics of imports, exports, and exchange. So, you remember the specialization and trade thing, right? So, that leads to imports and exports. Economically, in the aggregate, this is usually a good thing. Globalization and free trade do tend to increase overall wealth. But not everybody wins.
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With all this free education on YouTube, how does this affect the value of college education? It’s ironic how all of these are now paid for by ads. It’s like companies are paying to educate its future employees
with online school going right now because of corona, this is my best option. Going to see my teacher with all my questions isn’t as much of an option anymore so this is all I got and if im being honest, its working great. wondering if paying all that money for a degree is worth it
Woah this is deep af
A factor you have to consider about the value of college education is it’s recognition. What I mean by recognition is it’s acceptance in a specific situation by an upper figure such as a government or an employer. A person who studied and read all courses and lessons that are applied to a field such as engineering can become worthless in employment if it is not recognized by a government in which case it is deemed illegal to practice engineering due to laws. About the free stuff thing, it is technically free in terms of monetary exchange but on a broader sense it isn’t. Companies such as Google take information about you and sell it to advertisers in which you exchanged your privacy for access to Google. Some companies are also going for a more donation form of business in which it is optional to pay but tou still get a service from them.
“Free Education” – nothing is free, if its “free” you are the product.
Doesnt affect it one bit
Seriously, isn’t anyone gonna talk about that ACDC belt?
@Darik Forrest I thought it was called joe
He has a consulting company called ACDC Leadership.
I love it
ur right, he always wears it…
no
igcse-students-who-are-too-lazy-to-open-books squad
abdelrahman s the video better than books anyway
Yktv??
AYE SIR
??
ME
“Its unlikely the worlds largest economies will return to strict protectionism”…. 1 year later Donald Trump is elected and Trade War is started haha. Good video tho!
@Walter Hunter Life is Good, and you?
How is that going pal?
Search geoeconomics on YouTube, watch, then maybe you can grab the ball and get in the game
Trade war starts with a reason. The china kept stealing technology from advanced country, if u don’t stop them now, you will be too late to beg the Chinese.
@Red Wine Please Doesn’t make sense to compare California & Nevada. If you replace California with “United States” & Nevada with “China”, it makes perfect sense.
“Protectionism is unlikely to ever happen”
Trump: “hold my Big Mac”
Yeah! How is that turning out?
„Intellectual goods like Kanye West albums“ I caaaannn‘tt???
“The creators of the thought bubble are Canadian. These GRAPHICS are IMPORTED”
This made my day 😀
They look like the South Park depiction of Canadians!
It’s funny that he said our largest trade partner is Canada when China surpassed them like a week ago.
It is Canada
Warrior Son you think Canada would try to goto with anyone?
This video must me late in a way
Maybe Trump should watch this
Ooooweeee someones a selective learner lol. Sounds like confirmation bias but idk. The lady has some points but when you hit a certain point those deficits become unsustainable. And do you not understand just how destructive to the us economy it is to have china only able to basically invest in american business? Cause and effect my friend
…. use your brain. You do understand how corporations work dont you?
@mswhatzittooya typical liberal. Deflect, laugh like infant, orange man bad….
@shakka mannaka argument from authority is hardly relevant… information changes for one. And secondly… when has a world changing genius not been self educated? Yeah… the kind of people that solve serious real world problems usually understand that old rick sanchez line…. school is not a place for smart people. Why? Because it seldom reflects reality. Especially when its run by people who think Marx has a good economic theory despite the constant stream of evidence to the contrary. Cognative dissonance does not lend credence to an argument from authority. Sincerely, literate straight white male.
@shakka mannaka I know this is LATE (two years) but your comments are interesting. Anyways, I recommend watching Stephen Harper’s interview with Ben Shapiro on the China/Trump issues. Despite how you may feel about either of them, I think Harper makes some good points in support of what Trump is doing and directly ties into the content of this lesson.
I trust him over aczio o cortaaz
Watching this in 2019, in the heat of a US -China trade war… so much for non protectionism policies…
@Alice Mclean 看看西方经济学怎么闹笑话，把自己都忽悠了
i am watching too, i am chinese
The US is the biggest exporter of dollars printed out of thin air. That’s a pretty good deal for Americans.
no such thing as petrodollar.
yes and these people don’t get it. China or India has been sending real resources, for numbers on a spreadsheet. They have received pollutions and sent their goods that they don’t get to consume.
+Ramon Denner #America
+Robonza US print dolars = profit
Other countries print their currency = inflation
Yeah, the world is really fair
“intellectual goods, like kanye west albums” LMAO dead
Drew Vanheistel nah
We would trade kanye for justin biever?
“It is unlikely that wealthy nations will return to strict protectionist policies” RIP Ameria 2k17
Then they won’t remain wealthy. And we know how that ends. Or, as “Mark Blyth” the scottish economist said. “Long Island is not a defensible position.”
Who else is studying International Trade?
Globalism may be good for global economies but it also makes the spread of viruses much easier as well. Have a nice Corona day.
I’m hesitant to call a West album an “intellectual” good… 😛
You export Kanye West albums to the world?
Why would you dot that?
if you can profit, why not. they must like kanye i guess
im a fish
His music is good af
@freddo 1614 Yeah stupid mistake, I admit.
To destabilise them
Crash Course: No large country will go for protectionism
Donald Trump : Hold my Beer
Hey, I had that cash register toy in the background!
*Main outtakes of this lesson*
a. Net exports – the annual difference between a country’s exports and imports
b. Trade surplus – when a country exports more than it imports
c. Trade deficit – when a country imports more than it exports
*1) International trade*
+ It doesn’t make sense to make everything on your own if you can trade with other countries that have a comparative advantage.
– Unsafe and unfair working conditions and environmental degradation.
*2) NAFTA, 1994*
– Dropped trade barriers between Canada, the US and Mexico.
– Increased US trade deficits. Decreased manufacturing jobs.
– Millions of jobs created. Reduced prices. Net positive impact on 3 countries.
*3) Protectionism* – Placing high tariffs on imports and limiting the number of foreign goods to protect local businesses. Limited by the WTO or World Trade Organization.
a. Exchange rate – how much your currency is worth when you trade it for another country’s currency.
b. Currency appreciation – An increase in the value of one currency in terms of another.
c. Currency depreciation – A decrease in the level of a currency in a floating exchange rate system due to market forces. Foreign imports get more expensive, which makes them fall. Exports to other countries get cheaper, which makes them rise.
d. Floating exchange rates – they change based on supply and demand.
e. Balance of payments – accounting statement that records all International transactions in a country. It’s made up of two sub-accounts, the current account and the financial account.
f. Current account – records the sale and purchase of goods and services, investment income earned abroad, and other transfers like donations and foreign aid.
g. Financial account – records the purchase and sale of financial assets like stocks and bonds.
There is a reason why the flow of goods and the flow of money are symmetric. If consumers, businesses and the government want to buy more stuff than their country is producing symmetrically, they have to import it. So there’s a trade deficit.
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Oh god! You saved me thanks a lot!!
Yo thanks a-lot. Finished my homework super fast lol
Thank you revolutionary poet! 🙂
Thanks bruh