• Your discussions must be supported by relevant research sources (peer review material – a minimum of 2 references, please) that help you supporting your personal insights.
• Word Count: maximum 400 words per reflection/answer.
- There has been a growth in protectionism, particularly due to US policy. What do you predict are the likely effects on the US economy, given your study of international trade theory?
- Examine the role of the World Trade Organisation (WTO) and its likely future, considering the political shifts occurring globally.
- TNCs have become increasingly important in the global economy. What are the implications for trade policy?
Part 2: Critical Discussion
• Develop an assessment of the selected research papers (see details below) with the aim of presenting a critical reflection on the threat of protectionism and its impact on international trade and the global economy The discussions should be supported by relevant research sources (peer reviewed material –3 peer reviewed sources).
• Word Count: maximum 750 words excluding list of references
Review the links below and critically discuss protectionism and its impact on international trade and the world economy in recent years, reviewing the role the major international players such as large countries, trading blocs and international organizations.
Hufbauer, G.C., Schott, J.J. and Lu, Z. (2020) ‘China’s Next Choice: The Comprehensive and Progressive Trans-Pacific Partnership’ Peterson Institute for International Economics Trade and Investment Policy Watch. Available at https://www.piie.com/blogs/trade-and-investment-policy-watch/china-and-trans-pacific-partnership-or-out
Nelson, D.R. (2019) ‘Facing up to Trump administration mercantilism: The 2018 WTO trade policy review of the United States. The World Economy, 42(12), pp.3430-3437 DOI: 10.1111/twec.12875
Schott, J.J. and Jung, E. (2019) ‘The WTO’s Existential Crisis: How to Salvage Its Ability to Settle Trade Disputes’ Peterson Institute for International Economics No. PB19-19. Available at https://www.piie.com/sites/default/files/documents/pb19-19.pdf