Homework: GLOBAL ECONOMICS
Task:
Why did Donald Trump seek to start a trade war with China when he was the President of the USA?
In your answer you should:
o Define free trade and define trade wars
o Consider the pros and cons of free trade, referring to the theory of comparative advantage
o Consider the impacts of free trade on blue collar (former manufacturing) workers over the last 40 years in the USA,
o Consider the validity of allegations made against China of unfair trade practices such as allegations that China devalued the RMB/Yuan and why China would have done this (if it did indeed do this)
o With the use of relevant economic diagrams consider the pros and cons of the USA applying trade barriers (such as but not only tariffs) on Chinese goods entering the USA
o Consider who in the USA would win and who would lose from the application of trade barriers on Chinese goods
o Consider how China has so far reacted and may continue to react to the application of trade barriers by the USA on Chinese goods
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.
Outcomes: This task assesses the following learning outcomes:
o Develop a complex understanding of the main concepts of international economics and how to apply them;
o Understand and analyze the different global economic theories;
o Distinguish between the different international economic systems;
o Explore economic integration in different economic areas.