Trade war

A trade war refers to two or more states raising or creating tariffs or other trade barriers on each other in retaliation for other trade barriers. Increased protection causes both nations' output compositions to move towards their autarky position.

Some economists would agree that certain economic protections are more costly than others, because they may be more likely to trigger a trade war. For example, if a country were to raise tariffs, then a second country in retaliation may similarly raise tariffs. But an increase in, for example, subsidies, may be difficult to retaliate against by a foreign country. Many poor countries do not have the ability to raise subsidies. In addition, poor countries are more vulnerable than rich countries in trade wars; in raising protections against dumping of cheap products, a government risks making the product too expensive for its people to afford.

See also

Trade

Trade involves the transfer of the ownership of goods or services from one person or entity to another in exchange for other goods or services or for money. Possible synonyms of "trade" include "commerce" and "financial transaction". A network that allows trade is called a market.

The original form of trade, barter, saw the direct exchange of goods and services for other goods and services. Barter is trading things without the use of money. Later one side of the barter started to involve precious metals, which gained symbolic as well as practical importance. Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade.

Trade exists due to the specialization and division of labor, in which most people concentrate on a small aspect of production, trading for other products. Trade exists between regions because different regions may have a comparative advantage (perceived or real) in the production of some trade-able commodity, or because different regions' size may encourage mass production. As such, trade at market prices between locations can benefit both locations.

War

War is a state of armed conflict between societies. It is generally characterized by extreme collective aggression, destruction, and usually high mortality. The set of techniques and actions used to conduct war is known as warfare. An absence of war is usually called "peace". Total war is warfare that is not restricted to purely legitimate military targets, and can result in massive civilian or other non-combatant casualties.

While some scholars see war as a universal and ancestral aspect of human nature, others argue that it is only a result of specific socio-cultural or ecological circumstances.

In 2013 war resulted in 31,000 deaths down from 72,000 deaths in 1990. The deadliest war in history, in terms of the cumulative number of deaths since its start, is the Second World War, from 1939 to 1945, with 60–85 million deaths, followed by the Mongol conquests which was greater than 41 million. Proportionally speaking, the most destructive war in modern history is the War of the Triple Alliance, which took the lives of over 60% of Paraguay's population, according to Steven Pinker. In 2003, Richard Smalley identified war as the sixth (of ten) biggest problem facing humanity for the next fifty years. War usually results in significant deterioration of infrastructure and the ecosystem, a decrease in social spending, famine, large-scale emigration from the war zone, and often the mistreatment of prisoners of war or civilians. Another byproduct of some wars is the prevalence of propaganda by some or all parties in the conflict, and increased revenues by weapons manufacturers.

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Trump

A trump is a playing card which is elevated above its normal rank in trick-taking games. Typically an entire suit is nominated as a trump suit - these cards then outrank all cards of plain (non-trump) suits. In other contexts, the term trump card can refer to any sort of action, authority, or policy which automatically prevails over all others.

Etymology

The word "trump" derives from "trionfi" or "triumph", documented as the name of a card game in 1529 and which spawned the game Ruff and Honours, which in turn led to Whist. Trionfi was also the name of the original card game for which tarot cards were designed, and in it the tarot cards had the role of what are now called trumps; later card games, beginning with Triomphe, started using one of the ordinary suits as a replacement for the tarots when a tarot pack was not available.

Trump in card games

In most games, the relative rank of cards within a suit is the same in trump and plain suits, but they may sometimes differ, for example in Klabberjass, Euchre, or Eighty Points.