As a business owner, you need to approach the issue of globalization and trade in context. With all the complicated tariff and nontariff trade policies, organizations, and government involvement, the important question to ask is why the United States maintains certain economic policies.
Consider the following:
- Select two industries and explain where you would find the U.S. international trade policies and their history as they apply to your chosen industries.
- Do the economic trade policies today help or hurt business owners and laborers?
- Is the automobile industry protected?
- What tariff policy is in place for automobile manufacturers?
- What type of administered protection is in place, if any?
- Compare the automobile industry to the two industries you chose to research.
- How could the state or local representative help or hurt a business owner in the era of globalization?
- What influences do the following organizations have on business owners, and what is their history?
- The World Bank
- The IMF
- GATT
- The European Union
- NAFTA
- The Doha Round
- Does NAFTA affect the automobile industry's decisions on what to do with labor and capital costs? If so, how? In your opinion, was this trade agreement good for the United States and Mexico from an economic standpoint?