Author Question: Macroeconomics (Read 195 times)

brandy.spencer

  • Guest
on: Dec 4, 2019
We have discussed international trade a few times throughout this module.  Whether you realize it or not, increased tariffs and the potential for an all-out trade war with China has a big impact on all of us.  What are your thoughts on this issue?  Keep in mind, this is macroeconomics not political science.



Celeste

  • Hero Member
  • Posts: 588
Reply #1 on: Dec 4, 2019
  • Best Answer
  • As Americans, we've become reliant on the goods produced in China. Having things produced in China and abroad allows for US customers to afford what would be otherwise expensive had it been made in America. From a consumer's standpoint, it's best that we avoid a trade war, because if one were to occur, prices of items produced there would skyrocket initially, thereby increasing the cost of living. Eventually, the prices would equalize once the government forms new relationships with other countries and plants are built elsewhere. In addition, our reliance on China has given their country an upper hand on Americans. They could easily start to trade unfairly and blackmail us in the process due to this dependency. This is why from a government's standpoint, an agreement - as opposed to a trade war - is probably the best alternative. USA wants to modify their past agreements so that fair policies can be set into places for years to come. Of course, China has gotten comfortable doing business with the USA, and are more likely to decline any modifications made to pre-existing treaties regarding trade.



    Related Topics

    Need homework help now?

    Ask unlimited questions for free

    Ask a Question
     

    Did you know?

    Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

    Did you know?

    In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

    Did you know?

    Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

    Did you know?

    Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

    Did you know?

    Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

    For a complete list of videos, visit our video library