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1. What do you think have been the benefits and losses to consumers in the USA due to anti-dumping? Why? (Wooden furniture)

2. How do you think the international relations between the USA and China have been affected? Why? 

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Joshua Stredder
Joshua StredderLv10
28 Sep 2019

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Related questions

1. Should the government always balance its budget? If you think it should, what steps do you suggest that it should take to balance its budget?

2.What is the relationship between budget deficits and national (public) debt? Why has the USA national debt been increasing for decades?

 

How are consumers affected by the Chinese tire dumping and the subsequent US tariffs? How would you describe the competitive dynamics between China and the United States? How might China and the United States signal their intention to cooperate in order to reduce competitive intensity? Is China simply a hyper competitor rather than a dumper? Are antidumping laws effective?

4. (Part A) Suppose the USA and China are considering whether to engage in trade. Here are the production possibilities of the two countries before trade occurs:

Table 1. Production of Apparel or Chemicals in the USA and China.

The Opportunity Costs of producing one product or the other are displayed.

1000’s of Tons of

Apparel Units Chemicals

Nation Produced or Produced

USA 50 or 150

China 30 or 60

Which nation has the comparative advantage in producing Apparel? Which nation has the comparative advantage in producing chemicals? Explain how you arrived at these conclusions.

Explain the Law of Comparative Advantage, and its application to trading relationships between nations. In the example above, if the two nations decide to engage in mutually beneficial trade, which nation should specialize in producing Apparel and which nation should specialize in producing Chemicals, and Why?

Suppose a trade proposal is made to exchange 1 thousand units of apparel for 2.5 tons of chemicals. Would these terms of trade (1 Apparel : 2.5 Chemicals ) be acceptable to, and mutually beneficial for, both the USA and China as trading partners? Why or why not?

What are the “payoffs” from open trade? What are some of the limitations associated with open trade?

4. (Part B) Suppose the USA and EU are trading, and currencies must be exchanged as goods/services are imported and exported between the two regions. The $USD is the currency of the USA, and the €Euro is the currency of the EU.

a. Are the following statements correct or incorrect? Why or why not?

“If the USA is exporting its goods to the EU, these exports from the USA to the EU create a demand for €Euros in the Currency Exchange Market for €Euros.”

“If the USA is importing goods from the EU, these imports to the USA from the EU create a supply of $USD in the Currency Exchange Market for $USD’s.”

“If the EU is importing goods from the USA, these imports to the EU from the USA create a demand for $USD in the Currency Exchange Market for $USD’s.”

Throughout your answer to any of these other questions, use graphs as needed (all axes and functions completely labeled) to accompany your written analyses.

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