(Solution) ECON312N Week 8 Discussion: International Trade

COURSE  

 ECON312N Principles of Economics

Initial Post Instructions
Choose one of the following options:

Option 1: Global Trade and the Quality of Life
It has been said that global trade improves the quality of life. Using research, argue either for or against the statement that global trade improves the quality of life.

For the initial post, address the following:

  • Do you believe that this statement is true? Why or why not?
  • Are there examples of global trade lessening the quality of life in a particular country or region? Provide details to support your answer.
  • Does everyone benefit equally from global trade? Why or why not?

Option 2: International Agreements and Organizations
Choose one of the following agreements or organizations to address trading concerns:

  • The World Trade Organization (WTO)
  • The International Monetary Fund (IMF)
  • The World Bank
  • North American Free Trade Agreement (NAFTA)/United States-Mexico-Canada Agreement (USMCA)
  • The European Union (EU)
  • The Asia-Pacific Economic Cooperation (APEC)

For the initial post, address the following questions:

  • What has this agreement or organization done to promote trade?
  • What would business be like without this agreement?
  • What countries are benefiting most from the organization or agreement?
  • Are any countries hurt by the organization or agreement? Why or why not?
  • What recommended changes would you provide?

Follow-Up Post Instructions

Respond to at least one peer. Respond to a peer who chose the option you did not choose. Further the dialogue by providing more information and clarification.

SOLUTION  

I chose option #1.

I do believe that global trade improves quality of life. Empirical data from worldbank.org shows that, “Developing countries now constitute 48 percent of world trade, up from 33 percent in 2000, and the number of people living in extreme poverty has been cut in half since 1990, to just under one billion people. Trade has helped increase the number and quality of jobs in developing countries, stimulated economic growth, and driven productivity increases” (2016). ……please click the icon below to purchase full solution at $5