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After reading Chapter 8

After reading Chapter 8 - After reading Chapter 8 the...

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After reading Chapter 8, the student should be able to answer the following questions: 1. Distinguish between liberalism and mercantilism. 2. Explain the ways in which politics intervenes in markets consistently and significantly. 3. Discuss the use of protectionism by states, including reasons and methods. 4. Describe the evolution of the international trade regime from GATT to WTO and the role of bilateral and regional agreements and cartels in the regime. 5. Explain the role of industries and interest groups in their state’s foreign economic policy and discuss which industries are most important in current international trade negotiations. 6. Describe how international trade rules are enforced. 7. Discuss economic globalization, including how the world economy has evolved since 1750. 8. Discuss the transition of countries from centrally planned economies to market-based economies. 9. Compare and contrast the positions of different groups resistant to free trade.
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