Finishi a discussions
I need help with a Economics question. All explanations and answers will be used to help me learn.
Are We in a Trade War with China?
We are studying trade and comparative advantage. The economic model and concept concludes that both parties (or countries) benefit from trade. The global market, the global economy, likes to trade!
On a more personal level: This would also explain why we like to enter into relationships (and marriage), or friendships in general. We feel that we benefit from mutual understanding, mutual assistance, combining or exchanging resources, and mutual support by recognizing that we all have different strengths and talents. Often we admire certain qualities in other people and enjoy being friends with them, perhaps learn from them.
The Trump administration has decided to put tariffs (extra taxes) on Chinese goods that we import, there is a plan to build a ‘wall’ between U.S. and Mexico, and NAFTA (the North American Free trade Agreement) has been revised. Overall the current U.S. government is trying to work against free trade, to implement trade barriers (= tariffs), and promote protectionism of its own manufacturing (“America First”).
Based on data, evidence, and a case study: Should we have trade barriers between countries (= tariffs)?
If it is a free market, why does the US impose tariffs with China and other countries, such as the EU?
Your response should be thoughtful and based on data, a case study, or other scientific evidence 400 – 500 words minimum.
Like before, you must post first to see other responses. I will grade your first post, and there should be at least one response to another student’s post.
I am attaching a recent article from the ‘economist’ magazine that includes a graph on the quantity of imports and exports with China (it is on the last page of the article). Please read, and also feel free to also consult other sources.
I am also including a video that you can watch – time permitting. It includes news debates about globalization in general. It contains interesting arguments for and against free trade and refers to the rise of China during the last decades as the world’s second largest economy.
Video: Explaining Globalization
I hope you enjoy thinking, reflecting and researching about this topic. (That is what they are currently doing in the White House and in China’s leadership team also).
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