I felt like I understood the concepts in Section 4, and the test score is a reflection of that.
However, I still need to remember some specific terms that I could use (such as currency volatility) in order to enhance my responses.
Thanks Ms.Q for grading our papers with such scrutiny, her comments allowed me to understand my weaknesses.
You’re so smart!!!!!!!!!!!!!!!!!!
via Priyanka’s Econ Blog
The Chinese current account has been in the surplus for more than 10 years now, and it has seen dramatic spikes over the past 5 years. The surplus was at its peak 1 year ago, when it was around 440 billion US dollars. However, the surplus has been decreasing over the past few months, and is currently around 70 billion, after falling to a minimum of 54 billion on March.
We just had a quiz about currency and the balance of payments. I received a satisfactory score.
However, I should still work on mastering the details of this unit.
I received a satisfactory score on my Data Response. (AKA 100)
Dr Anthony’s response in the formative (practice) Data Response made it easy for me to recognize what to do in the summative one.
The article was about tariffs and anti-dumping legislations between China and the U.S.
I felt like I understand this unit.
In this day and age, Free trade seems to be a favored concept by economists in terms of International Trade, whereas Protectionism is favored by Governments. Personally, I am a small advocate of Free trade at this point in time because it seems to have more opportunities to stimulate growth and increase the flow of resources and ideas internationally. Although, it is quite understandable why governments favor Protectionism because of how it aims to preserve jobs domestically and ensure the growth of small businesses in this ever changing and uncertain economy. If the pressure were not as great for governments to use a Protectionist approach in terms of trading with other countries, their respective countries may experience significantly higher growth, resulting in new job opportunities for those who loose their jobs, as well as other areas of enterprise which start-up businesses can pursue. For example, the US is continuously favoring a Free trade concept because of the large amount of outsourced companies located in countries such as India and China. On the other hand, US citizens are outraged at the companies that engage in outsourcing because it endangers their own jobs and firms due to their inability to produce as efficiently and more cost effective than other countries. Therefore, even though the Free Trade concept does not greatly assist domestic firms and individuals, in the long-run, I believe, the economy will flourish as countries begin to trade more vigorously with one another.