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ProblemSet10bANSWERS

ProblemSet10bANSWERS - UBGA 118 International Trade Fall...

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UBGA 118: International Trade Fall 2008 Problem Set #10b ANSWERS (Due Tuesday, December 2, 2008) 1. Article Analysis: Read this article and answer the following questions. Stephen Kotkin, “In Africa, One Step Forward and Two Back”. The New York Times, July 08, 2007. The URL is: http://www.nytimes.com/2007/07/08/business/yourmoney/08offtheshelf.html?_r=1&scp=1&sq=%93In%20Afri ca,%20One%20Step%20Forward%20and%20Two%20Back%94&st=cse&oref=slogin . a. The textbook argues that import substitution industrialization did not work well, including in Africa. However, export oriented industrialization might have had some success in East Asia. However, according to the article, Paul Collier seems to argue that export oriented industrialization or trade liberalization policies enacted by African countries would not help Africa develop. Why? Do you believe his argument? Answers may vary. Here is one: Mr. Collier seems to argue that "the bottom billion" residing mostly in Africa would not benefit from trade liberalization because East Asian countries "stand in Africa's way", which seems to imply that Africa is not competitive or productive enough to export to other countries.
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