Explain how the international trade relations between the global north countries (HDCs - highly developed countries) and the global south countries (LDCs - less developed countries) might NOT transform the latter to become highly developed or highly industrialized countries, like the former, in the near future.
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Explain how the international trade relations between the global north countries (HDCs - highly developed countries) and the global south countries (LDCs - less developed countries) might NOT transform the latter to become highly developed or highly industrialized countries, like the former, in the near future.
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- Use the Gravity Model to explain why China, Japan, Mongolia, North Korea, South Korea, and Taiwan had increased rapidly their share of world GDP. Most importantly the volume of trade between these emerging economies has grown substantiallyWho are the winners and losers of the free trade between two countries? Can free trade between the two countries make consumers of both countries better off? In answering this question, consider discussing: How are you and your household connected to the global economy? Which imported goods and services do you buy? Are your consumption patterns based on comparative advantage? How do US trade patterns, based on comparative advantage, contribute to income inequality in the US, according to the Heckscher-Ohlin model? How has trade affected international income inequality? What were some recent tariffs? Who really pays the cost of tariffs?Which of the following situations best exemplifies a relationship between nations that results from one country's concentration of a specific production? Japan imports steel to build cars. Ecuador imports textiles so they can export bananas. China exports inexpensive goods around the world.
- According to globalization opponents, what is a disadvantage of globalization? Multiple Choice Free trade limits countries from specializing in production of goods and services they can produce most efficiently. As a result of globalization, living standards of unskilled workers in developed nations have declined. Globalization results in companies "exporting jobs to low-wage nations. Globalization makes it difficult for poor countries to export more of their agricultural production.Imagine that you work for the World Bank and you have been called to Ghana to aid the new president to come up with a new international trade strategy. You are told that the new government is interested in moving away from agriculture and into manufacturing. To do so, the government wants to pursuit a policy of import substitution industrialisation (ISI). You are given a brief about Ghana highlighting the following points: About half of Ghana’s population depends on agriculture, but Ghana still imports some of its food. The majority of Ghana's people live in rural areas and exist on a subsistence way of life. Ghana has one of the highest rates of income inequality in the world. Nearly half of the population is employed in agriculture. QUESTION B.1 Why would Ghana trade with a country that is very similar to it? Will trade between Ghana and an almost identical neighbour be governed by comparative advantage?Imagine that you work for the World Bank and you have been called to Ghana to aid the new president to come up with a new international trade strategy. You are told that the new government is interested in moving away from agriculture and into manufacturing. To do so, the government wants to pursuit a policy of import substitution industrialisation (ISI). You are given a brief about Ghana highlighting the following points: About half of Ghana’s population depends on agriculture, but Ghana still imports some of its food. The majority of Ghana's people live in rural areas and exist on a subsistence way of life. Ghana has one of the highest rates of income inequality in the world. Nearly half of the population is employed in agriculture. QUESTION B.4 The president of Ghana is proposing increasing tariffs on rice and providing local rice producers with a subsidy. Explain to parliament the welfare implications of this from the perspective of consumers, producers and the government. Use…
- Imagine that you work for the World Bank and you have been called to Ghana to aid the new president to come up with a new international trade strategy. You are told that the new government is interested in moving away from agriculture and into manufacturing. To do so, the government wants to pursuit a policy of import substitution industrialisation (ISI). You are given a brief about Ghana highlighting the following points: About half of Ghana’s population depends on agriculture, but Ghana still imports some of its food. The majority of Ghana's people live in rural areas and exist on a subsistence way of life. Ghana has one of the highest rates of income inequality in the world. Nearly half of the population is employed in agriculture. A representative from Ghana's National Labour Party is particularly worried about consumers? Which policy tariffs or quotas is better for consumers?Imagine that you work for the World Bank and you have been called to Ghana to aid the new president to come up with a new international trade strategy. You are told that the new government is interested in moving away from agriculture and into manufacturing. To do so, the government wants to pursuit a policy of import substitution industrialisation (ISI). You are given a brief about Ghana highlighting the following points: About half of Ghana’s population depends on agriculture, but Ghana still imports some of its food. The majority of Ghana's people live in rural areas and exist on a subsistence way of life. Ghana has one of the highest rates of income inequality in the world. Nearly half of the population is employed in agriculture. QUESTION B.3 The parliament of Ghana is debating whether import substitution should take the form of quotas or tariffs. You are asked to brief them on the difference between the two. A representative from Ghana's National Labour Party is…Imagine that you work for the World Bank and you have been called to Ghana to aid the new president to come up with a new international trade strategy. You are told that the new government is interested in moving away from agriculture and into manufacturing. To do so, the government wants to pursuit a policy of import substitution industrialisation (ISI). You are given a brief about Ghana highlighting the following points: About half of Ghana’s population depends on agriculture, but Ghana still imports some of its food. The majority of Ghana's people live in rural areas and exist on a subsistence way of life. Ghana has one of the highest rates of income inequality in the world. Nearly half of the population is employed in agriculture. Why would Ghana trade with a country that is very similar to it? Will trade between Ghana and an almost identical neighbour be governed by comparative advantage?
- Imagine that you work for the World Bank and you have been called to Ghana to aid the new president to come up with a new international trade strategy. You are told that the new government is interested in moving away from agriculture and into manufacturing. To do so, the government wants to pursuit a policy of import substitution industrialisation (ISI). You are given a brief about Ghana highlighting the following points: About half of Ghana’s population depends on agriculture, but Ghana still imports some of its food. The majority of Ghana's people live in rural areas and exist on a subsistence way of life. Ghana has one of the highest rates of income inequality in the world. Nearly half of the population is employed in agriculture. QUESTION B.2 Explain import substitution industrialisation and how it can affect Ghana. What role does learning by doing play and when does it make sense for the government to interfere?Proponents of free trade, primarily developed country economists, argue that the liberalization of trading relationships between rich and poor countries(the removal of tariff and nontariff barriers) would work toward the long-run benefit of all countries. Under what conditions might the removal of all tariff and other impediments to trade work to the best advantage of developing countries? Explain.Define economic integration and differentiate between differentiate between different levels of economic integration. Moreover, Pakistan has signed a Custom Union (CU) agreement with UK to boost the trade with UK. Being an economist can you explain theoretically and graphically the effects of this agreement on member countries and on the non-member countries?