Global Business Chapter 5 Worksheet
Why Are US Exports So Competitive?
When evaluating US competitiveness, you should take into consider that US exports valuable, rare, and difficult to imitate, and US exporters are well organized. Several US government agencies offer export assistance. Free trade agreements and negotiated access to markets have also helped US exporters. Finally, American norms and values encourage US companies to succeed.
Directions: Thoroughly respond to the questions listed below, demonstrating knowledge from the text/article/video reviewed. Summarize in your own words and avoid general statements. Type your responses directly on the worksheet. Written rubric applies.
- ON ETHICS: While the nation as a whole may gain from free trade, there is no doubt that certain regions, industries, firms, and individuals may lose their jobs and livelihood due to foreign competition. How can the rest of the nation help the unfortunate ones cope with the impact of international trade?
- How do trade agreements mutually benefit the countries that participate?
Below I want you to find an article or video related to the topic, and I want you to summarize what you read/saw in a 150 word summary. Also, answer the additional questions posed:
- North American Free Trade Act (NAFTA)
- What is the Trans Pacific Partnership (TTP) agreement?
- Read the article at http://www.cnn.com/2013/10/15/world/child-labor-index-2014/. Also, watch a minimum of two of the four videos that are posted on the left-hand side related to child labor.
- In what ways has Mexico gained substantially from this trade agreement?
- President Trump has called for amending or doing away with NAFTA. Why? What is his argument as to why it is taking jobs from American workers?
- What is your personal view about NAFTA? Should we stay in it, leave it, or amend it. State your reason to support your argument.
- What rational did President Obama sign into this agreement?
- What rationale did President Trump have in signing the US out of this agreement?
- What is your opinion? Should the US continue in it or leave it?
- Summarize the article in 150 words.
- Now review the Central America Free Trade Agreement (CAFTA).
- What benefits did Central American countries gain from CAFTA?
- What benefits did the US gain from CAFTA?
- CAFTA was controversial because of the child labor that was quite common in many poor countries. Yet – the US still voted to engage in the agreement.
Based on your new understanding of NAFTA, respond to this scenario.
Guatemala is very poor and the men within this poverty often seek alcohol to deal with their depression, thus, requiring the wife and children to provide financially for the family. Imagine that factories in Guatemala commonly hire children from age 8 up to work in the factory.
Duties range from cleaning/sweeping, to picking up garbage, to running basic machines, to being a “gopher”. If the US pulls out of the CAFTA the people residing in these impoverished areas will possibly be laid off, and suffer even greater devastation. If the US stays in the trade agreement, it is viewed as if US consumerism is more important than child rights, and deaf to inhumane conditions.
You are now the President of the United States. You have a decision to either stay in, or remove the US from the trade agreement. The US already offers many of these countries financial relief, so giving them money to make up for the loss of jobs is not an option. What is your decision—provide a solid decision, with your rationale to support it. Identify the impact to both the US and Guatemala because of this decision: Minimum of 200 words.
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