Reference no: EM131617699
What would be your reply to the thread no.1 and no. 2 below? Reply must be at least 100 words and include at least 1 citation in current APA format.
Thread 1:
Exports are what we, as a nation, export and ship out of the country to other places. This can include things like crops, manufactured goods, whole products, etc. In terms of calculating the GDP, the total value of the imports is subtracted from the total value of the exports. The value of the goods that we exported was $2.34 trillion, and it is safe to say that those exports are supporting other countries. Imports and Exports are a great way for a country to make money while also potentially doing good for other countries by providing them with the things that they are unable to produce themselves.
According to the Economics & Statistics Administration from the United States Department of Commerce, one of the reasons that exports increased so much in 2014 was due to the work that President Obama put in to his trade agenda (esa.doc.gov, 2015). Of the $2.35 trillion (doc.gov), $1.64 trillion of that was in the form of U.S. Goods (petroleum products, food, vehicles, etc.). Another component of the increase in 2014 was due to the increase in purchasing power of other countries, namely Canada, Mexico, and China (esa.doc.gov, 2015).
1 Kings 10:22 gives an example of international trade in the Bible. It talks about the king and how, once of every three years, ships from Tarshish would come with gold, livestock, etc. There are many instances of trade within the Bible, and we must realize that it is more than just something that impacts fiscal aspects of a country and/or individual. There is also a component that deals with the culture of a country as well. International trade can also be a "love your neighbor" action as well.
Thread 2:
The economic theory that is associated with exports and imports is the balance of trade. It is an economic theory concept that countries sell what they have in a surplus of countries that do not have the goods and services and hence it is called export. Export refers to that part of the international trade where countries send their production to other countries they choose to trade with (Jadotte, 2015). Gross domestic product refers to all kinds of revues that is realized. Trade is a very important aspect of revenue generation and exports from a very important role in revenue generation and inflow of currency. Hence, GDP constitutes export trade to a very large extent.
The growth of exports in the USA has been triggered off by a very liberated policy in international trade. Furthermore, lowering of tariffs on exports has also led to this surge in exports (Peters & Leubsdorf, 2015). The decline in world crude oil prices and discovery of alternate fuel sources has also led to exports increase. The growth of exports has, also, built relationships between countries that have bettered poorer countries.
The scriptures say that sharing is a very important aspect of being religious and charitable. Sharing is what international trade is. Sharing through exchange leads to an evening out of resources between scarcity and surplus. Deuteronomy 23:20 says, "You may charge a foreigner interest, but you may not charge your brother interest, that the Lord your God may bless you in all that you undertake in the land that you are entering to take possession of it." Attitudes towards international trade are leveled out by scriptures seeking of how charity is a divine quality and hence one should share what he has in surplus with others. This is exactly what exchange in trade is. But the consideration is monetarily derived from making the theory of arbitrage work.