International economics Essay Example | Topics and Well Written Essays - 6250 words

International economics - Essay ExampleUK economy has experienced greater growth in the original century as compared to the last few decades of the twentieth century. However, the international trade scenario of UK does not seem promising with a unvarying trade deficit although there has been growth in both export and import harbors. This is because the real value of imports remains far below than the real value of exports. The growth of service exports in developing countries has besides affected UK economy as the nation has lost market for service exports in those countries especially China.In the backdrop of globalization no country can survive within the boundary of economics at national level. A countrys economy including industry, service sectors, employment and standard of living is qualified on the association with its trading partners. This association is established with import and export of goods, services, labour, technologies and investments. It is not possible to fashion national economic policies without considering their effect on the economies of other countries. With a number of factors like the formation of the European Union in the 1950s, the growth of multinational companies in the 1960s, the growing market strength of the oil producing countries, and accounting entry of euro in the beginning of twenty first century have all paved the way for interdependency of countries worldwide and evolution of a global economy (Carbaugh, 2010, p.1). In the world of business in the current century, business is the key factor in the relationships between different countries. Today any business enterprise even the small and emerging ones consider every nook of the world as market for its products and services, and no business confines its activities within the national boundaries. In many companies, the annual sales level exceeds the gross(a) national product (GNP) of some