I don't get it... / General Political Bitching Thread....lol

Russian President Vladimir Putin has stated that whichever country leads in developing artificial intelligence will come to dominate the world. He emphasized the colossal opportunities and threats that AI presents

Example of Inflation

The African nation of Zimbabwe provided an example of the worst-case scenario in the early 2000s. In response to serious economic problems, the country's central bank began to print money at a staggering pace. That resulted in hyperinflation, which ran between 231 million and 489 billion percent in 2008.

Prices rose rapidly and consumers were forced to carry bags of money just to purchase basic staples. At the height of the crisis, one U.S. dollar was worth about 8.31 billion Zimbabwean dollars.

International Attitude on Dumping
While the World Trade Organization (WTO) reserves judgment on whether dumping is an unfair competitive practice, most nations are not in favor of dumping. Dumping is legal under WTO rules unless the foreign country can reliably show the negative effects the exporting firm has caused its domestic producers. To counter-dumping and protect their domestic industries from predatory pricing, most nations use tariffs and quotas. Dumping is also prohibited when it causes "material retardation" in the establishment of an industry in the domestic market.

The majority of trade agreements include restrictions on trade dumping. Violations of such agreements may be difficult to prove and can be cost-prohibitive to enforce fully. If two countries do not have a trade agreement in place, then there is no specific ban on trade dumping between them.

Real-World Example of Dumping
In January 2017, the International Trade Association (ITA) decided that the anti-dumping duty levied on silica fabric products from China the previous year would remain in effect based on the investigation by the Department of Commerce and the International Trade Commission that showed that the silica products from China were selling at less than fair value in the United States. The ITA ruling was based on the fact that there was a strong likelihood that dumping would repeat if the tariff was removed.

What Is Bad About Dumping?
Dumping can be detrimental in many respects. Most obviously, it can result in the flooding of imported goods in a foreign market. This can harm local and existing producers and potentially even drive them out of business. From a political standpoint, dumping can also disrupt relations between countries.

Why Do Companies Do Dumping?
Companies can be driven to engaging in dumping for a number of reasons. Primarily, it allows them to gain a foothold in new markets abroad. If done for an extended period of time, dumping can eventually drive out competitors, allowing a company to establish an monopoly on a good or service.

What Is the Dumping Margin?
The dumping margin is the difference between the cost of a product in a domestic market and the cost at which it's being exported abroad.

The Bottom Line
In the context of international trade, dumping is when a country or company exports products abroad at lower prices than that at which they are sold domestically. Though unsustainable over extended periods of time, the practice can give businessees an advantage in entering a new market. Many countries have policies in place to protect against dumping, such as tariffs.