(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

Professor and class,

With the advancement of technology and international trade, the globe has become a more integrated place. The impacts of increased international trade are thoroughly researched. Numerous researchers and organizations have carried out research to determine how international trade improves the quality of life. According to Hirt (2017), global trade increases foreign exchange, opens more markets for locally produced goods, and creates more jobs. The……………..please click the icon below to access entire solution at $5