International Business Written Assignment #1
Article Analysis: 3 Scenarios Involving Forces affecting Trade
This Assignment will give you the opportunity to review 3 Articles regarding Forces affecting Trade. The goal of this exercise is to apply critical thinking skills in reviewing topics on Trade issues that can arise in International Business.
Instructions:
There are 3 Scenarios to complete for this Assignment. Each Article can be found in the Textbook on the pages referenced or can be viewed by downloading the file BUS140 Written Assignment 1 Articles.
Read each Scenario thoroughly and then review and answer all of the corresponding questions below within this document. Please provide answers that include further support of your initial answer in your own words based on your understanding of the concept being asked. As this is a Written Assignment meant for you to express your understanding of these concepts, please go beyond just a simple copy and paste of the course materials in your answers to get full credit for your submission (see Rubric for grading criteria). Make sure you clearly indicate within your answer which question or part(s) of question you are answering.
Save and upload your work into the Work Assignment prior to the due date posted in Canvas. Submitting your work submission as a MS Word, IOS Pages, Text only or a PDF document is also acceptable.
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BUS140 Written Assignment 1 Articles
SCENARIO #1: Sugar Subsidies: Sweet for Producers but Sour for Food Manufacturers and Consumers- Pg141 in Textbook, please read the whole case before answering the questions.
ARTICLE SUMMARY: Sugar is the most trade-distorted commodity on the world market. Both the EU and the U.S. protect their domestic sugar producers. In the U.S., the protection amounts to a subsidy of $1.5 million per year for every protected job. Businesses reliant on sugar have been leaving the U.S. able to access their sugar supply at world prices, which is not permitted in the protected U.S. markets.
Questions regarding this Scenario:
- Should Sugar continue to be a protected commodity? Why or why not?
- Describe what parties are affected, and how they are affected by such policies?
- Should the U.S. consumer continue to fund protection for U.S. sugar or for any other Agricultural farmers? Why or why not?
SCENARIO #2: Trade as a Political Weapon: Sanctions for Russia’s Annexation of Crimea- Pg. 142-143 in Textbook, please read the whole case before answering the questions.
ARTICLE SUMMARY: The major international response to Russia’s 2014 occupation of Crimea was to use trade sanctions. For example, the United States froze the assets of specific companies and banned high-technology trade with Russia. In addition, individuals close to President Putin were targeted through travel bands and seizure of their assets. FDI into Russia declined and Russian citizens had to pay more for imported goods that were available. Yet the sanctions seemed to only increase support for the Kremlin among Russians.
Questions regarding this Scenario:
- Were punitive sanctions against Russia an appropriate response? Did they accomplish what was hoped for? Why or why not?
- What “carrots” might have been used in response to Russia’s actions regarding Crimea? How might the outcomes have been different if this approach had been attempted?
- Some Countries regularly use trade sanctions as a method of enforcing their foreign diplomatic policies. Why do you think this is a commonly used political tool and what other possible outcomes could occur or possibly be avoided by using such tactics?
SCENARIO #3: Chocolate: Is Your Treat the Result of Unfair Labor and the Exploitation of Child Labor? - Pg. 149-150 in Textbook, please read the whole case before answering the questions.
ARTICLE SUMMARY: Most of the world’s chocolate comes from Côte d’Ivoire and Ghana, both of which have plantations that employ children who are not free to leave, may not attend school, and are not protected during dangerous labor such as the application of pesticides. The Côte d’Ivoire also is described as having active child slavery, as a result of human trafficking. Because chocolate beans are combined before roasting and these two countries are responsible for 75 percent of the world’s chocolate, most commercial products use cocoa/chocolate from them.
Questions regarding this Scenario:
- Should labor practices in another country be a relevant consideration in international trade? Why or why not?
- With regard to trade products such as cocoa, what options are available to governments, businesses, and consumers for dealing with practices such as child labor or slave labor in other countries? What are the implications associated with each of these options?
- How would international trade theorists view the Fair-Trade movement? (Refer to theories in MOD3 pgs. 34-45 and Fair Trade concepts on pgs. 99,150, 449)
END of Assignment
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