Short Answers – Answer any Three questions. Be concise; each response must be no

Short Answers – Answer any Three questions. Be concise; each response must be no more than one page long. Re-read and understand the essay exam terms. Submit your response via an MS-Word document.
The US just decided to institute a 30% anti-dumping duty on aircraft parts imported from China. It believed the parts were being dumped onto the US market. In retaliation, China slapped a 35% duty on US auto imports, arguing that recent federal bailouts are equivalent to unfair subsidy to US automakers. a) What political, economic, or cultural motives do you think are behind the US anti-dumping duty? b) What motives are behind China’s counter measures?
What are the four major economic and political arguments for regional economic integration? If integration is that good, why don’t we see more substantial examples of integration in the world today?
In most advanced economies, unions often oppose imports from low-wage countries. Due to what they often perceive as ‘unfair’ competition, they often promote an imposition of tariff barriers to protect local jobs. Is the competition unfair as the unions claim? Why or why not? Define why you think such an argument is in the best interest of a) the unions themselves, b) the employees they represent, c) the nation as a whole?
Drawing from the new trade theory and Porter’s theory, outline the case for government policies that would build national competitive advantage in biotechnology. What policies would you recommend that the government adopt? If any of these policies are at odds with the basic free trade philosophy, list the issues.
Is International Trade theory still relevant? Explain
In the 1970s economists observed that trade was growing fastest among industrialized countries with similar factors of production. In some new industries, there appeared to be no clear comparative advantage. The solution to this puzzle became known as the new trade theory. Explain the major arguments related to the new trade theory giving related examples.
Reread “Burberry shifts its Entry Strategy in Japan?” (pg. 248). Given what we know about limitations of exporting, limitations of licensing and advantages of FDI a) Are factors that informed Burberry’s licensing strategy still viable despite what happened? b) What options does Burberry have for the future given the nature of the luxury goods industry? Explain in each case and give three reasons to back your choice.
Imagine, suddenly, nations of the World suddenly cut off all trade with one another and the people in each nation are able to consume only products their own nations produce. a) Is that a theoretical possibility? Which trade theories back that up? b) What would have to happen to make it work? c) Which trade theories would be rendered redundant?
In-text citations and references are expected for each question (where applicable). Do not reference a work that has not been cited in the response. Begin each question on a fresh page. Please mark the question with the right question number.
NEED to follow the Rubric and Exceeded the Expectations below!!!
Explanation of Issues
Issue/ problem to be considered critically is stated clearly and described comprehensively, delivering all relevant information necessary for full understanding.
Evidence
Information is taken from source(s) with enough interpretation/ evaluation to develop a comprehensive analysis or synthesis. Viewpoints of experts are questioned thoroughly.
Influence of Context and Assumptions
Thoroughly (systematically and methodically) analyzes own and others’ assumptions and carefully evaluates the relevance of contexts when presenting a position.
Student’s Position Perspective, thesis/hypothesis.
Specific position (perspective, thesis/ hypothesis) is imaginative, taking into account the complexities of an issue. Limits of position (perspective, thesis/ hypothesis) are acknowledged. Others’ points of view are synthesized within position (perspective, thesis/ hypothesis).
Conclusions Related outcomes, implications and consequences.
Conclusions and related outcomes (consequences and implications) are logical and reflect student’s informed evaluation and ability to place evidence and perspectives discussed in priority order.