Econ Homework 2-Ecuadorian Roses

Econ Homework 2-Ecuadorian Roses - International Trade and...

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International Trade and Business Environment, Econ 300 Homework 2 60 points Name: Robert Thomas 1. Ecuadorian Valentine Rose Case (a) Locate and label Ecuador on the South America outline map. Which regional trading bloc does it belong to? (5 points) -MERCOSUR -ANDEAN (b) How has globalization impacted the Ecuadorian rose industry? (10 points) Globalization has impacted the Ecuadorian rose industry in many ways both positive and negatively. Globalization of markets derives from tastes and preferences of consumers in different nations beginning to converge and as the rose industry grew, this is exactly what happened. Ecuador began to sell and trade their roses in order to increase the nations revenue and also employ a much larger portion of the population in the process. The two large facets of globalization in question would be the globalization of markets and production. To start, the rose industry showed immediate promise in Ecuador by generating nearly 240 million dollars in sales and providing additional tens of thousands of jobs. In less than thirty years the rose industry became the nations fifth largest export and really caught the attention of the nation. As the popularity of Ecuadorian roses increased the ability to market and sell globally became a viable option. Ecuador had gained access to markets all over and the more markets they were able to break into, the better their success would be. The popularity allowed Ecuador to market and sell roses to Europe and the rest of the world. As the roses gained popularity Ecuador was able to use them as a trading point as well and increased their possible areas of trade. The rose market also tapped into the market of lower wage workers and provided these workers with jobs and a livelihood; and an addition to low wage workers the rose industry offered majority of its jobs to women in Ecuador who previously struggled to find work.
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