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Self-sufficiency• The ability to provide for all of your basic
needs, such as food, clothing, shelter, and water, without relying on anyone else.
• A country is self-sufficient when it provides everything its population needs to survive without having to trade with other countries.
• Why did nations trade then?
The beginnings of trade
• awareness of other goods• areas were more technologically developed• development of transportation
• providing food became easier• more options for earnings• longer and healthier lives• variety of food, crafts, materials, and
technology
Why trade?
Still Self-sufficient?
• Amish• Mennonites• Communes- shared responsibility for food
production, education, child care, etc.
First Trade Regulations
• local rulers in Europe collected taxes and tithes to maintain authority and lifestyle and finance wars (476 to 1000 C.E.)
• guilds controlled the mfging and sales of goods within towns and disallowed competitive imports and/or imposed import duties (1000 to 1500 C.E.)
Interdependence
• The reliance of two or more groups on the actions of one another to fulfill certain wants or needs
Interdependence begins
• See video (21 min) - “The Fur Trade and the Opening of Canada”
• Note key dates and point form key events, people, nations
• U.S. trade was more diversified into S.A. and was dependent on sugar
• Fur trade in Canada - HBC and North West Co.
• 1840s - silk replaces fur• 1867 Canada becomes a nation• Canadian Pacific Rail (CPR) completed in 1885• post WWII - trade organizations
Northern American Free Trade Agreement (NAFTA)
• 1993 Canada signed• Eliminates all tariff barriers between Canada
and US• Advantages• Disadvantages
Barriers to International Trade
• Tariffs• Currency fluctuations• Investment regulations• Environmental restrictions• Foreign relations and trade sanctions• Safety regulations
Currency Fluctuations
• Which is better for business, a strong dollar or a weak dollar?
• Read article, “The Canadian Dollar”