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Chapter 8: International Trade

Critical Thinking Questions

Critical Thinking Questions

This activity contains 5 questions.

Suppose your state had a chance to reach a major trade agreement by making substantial concessions. The agreement would produce $5 billion in new wealth for your state, as well as $10 billion for each of the other states involved (which are political allies but economic rivals). What advice would a mercantilist give your state's leader about making such a deal? What arguments would support the advice? How would liberal advice and arguments differ?

To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.

China seems to be making a successful transition to market economics and is growing rapidly. It is emerging as the world's second-largest economy. Do you think this is a good thing or a bad thing for your state? Does your reasoning reflect mercantilist or liberal assumptions?

To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.

Given the theory of hegemonic stability (p. 58), what effects might a resurgence of U.S. power in the post-Cold War era have on the world trading system? How might those effects show up in concrete ways?

To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.

Before you read this chapter, to what extent did you prefer to buy products made in your own country? Has reading this chapter changed your views on that subject? How?

To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.

The proposed Free Trade Area of the Americas would join Canada and the United States with Latin American countries where wages are lower and technology is less developed. Which U.S. industries do you think would gain from such a trade area? Specifically, do you think labor-intensive industries or high-technology industries would be winners? Why?

To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.

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