Global Value Chains
Use mostly the lecture notes and other credible resources. Single spaced, use the titles to separate the two questions.
Free Trade:
Choose two assumptions you think most unreal in free trade theories. Discuss how the GVCs ‘global value chains’ today have complemented the conventional free trade theories.
TPP, NAFTA and IPE: 1 page, single spaced
Discuss the ‘international political economy ’ ‘IPE’ shown in the Trump ’s withdrawal from the TPP ‘Trans-Pacific Partnership’. Can the US withdraw from the NAFTA as well? Discuss it also in light of the IPE.
…………………..Answer preview……………………..Free trade refers to the exchange of goods and services for money or for other goods and services between two or more counties without government restrictions. Some of the government restrictions may be in the form of tariffs and quotas. The theory of absolute advantage (Smith, 1776) argued that international trade allowed for creation of surplus commodities while at the same time guaranteeing acquisition of commodities from………………
APA
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