International Trade between UK and the EU
In the current Brexit situation what will be the main implications for the international trade between United Kingdom and the European Union countries?
A good answer should mention the different and diverse repercussions, but it should not explore in depth each of them. The answer should be “comprehensive” rather than “specific” or “detailed” on only one or two issues. The objective is to demonstrate that the student knows how to apply the different concepts studied in the module to the Brexit case. Each of the chapters of the textbook (Hill, 2014) will provide a guide of the topics affected by the no-deal Brexit scenario. The answer should mention the main issues, the most relevant implications, not all of them. For example, remember that the City of London, as a global financial hub, represents around 22% of the GDP of United Kingdom… And that most of the food consumed in UK comes from EU countries…
Examples of main themes:
- The change to WTO framework.
- Tariffs and borders (customs, the Irish problem, etc.)
- FDI (foreign car manufactures stopping investments in UK, etc.).
- Primary Sector and Subsidies (agriculture, farming, fishing, etc.).
- Human Resources (NHS staffing, Higher Education staff, etc). 2
- Financial and banking sector.
- Etc.
There are several reports available that address this topic written by the government, political parties, industry associations (Confederation of British Industry – CBI- , etc.), banks (Bank of England, HSBC, Goldman Sachs, UBS y JP Morgan), etc.
For example:
- http://www.cbi.org.uk/news/brexit/
- https://www.gov.uk/transition
- https://www.theguardian.com/politics/2021/jan/23/brexit-hit-firms-advised-government-officials-set-up-shop-in-eu
- ‘A Brexit nightmare’: the British businesses being pushed to breaking pointLess than a month after leaving the EU, trade is flowing so badly that small firms are moving operations abroad to survivethe Guardian
- https://www.theguardian.com/politics/2021/jan/20/absolute-carnage-eu-hauliers-reject-uk-jobs-over-brexit-rules
- https://www.theguardian.com/politics/2021/jan/07/customers-europe-hit-by-post-brexit-charges-buying-from-uk
What are the main impacts of the coronavirus COVID-19 pandemic for the international trade?
A good answer should mention the different and diverse repercussions, but it should not explore in depth each of them. The answer should be “comprehensive” rather than “specific” or “detailed” on only one or two issues. The objective is to demonstrate that the student knows how to apply the different concepts studied in the module to the current pandemic situation. Each of the chapters of the textbook (Hill, 2014) will provide a guide of the topics that may be affected by the COVID-19 pandemic.
The answer should mention the main impacts in international trade, globally, for the most relevant implications, not all of them. The answer should be built considering different sources (news, reports, journal articles, etc.). Issues that should be mentioned:
- Impacts on international trade flows.
- Fragility of global supply chains, and Reshoring.
- Foreign Direct Investments.
- Human Resources issues (online meetings, business travelling, etc.).
- Logistics and transportation.
- Role of internet in international trade.
- Etc. Some examples of references:
https://www.gov.uk/coronavirus
https://www.wto.org/english/tratop_e/covid19_e/covid19_e.htm
The China–United States trade war (2018 – 2020): origin, background, chronology, major effects, and implications.
A good answer should mention the different and diverse repercussions, but it should not explore in depth each of them. The answer should be “comprehensive” rather than “specific” or “detailed” on only one or two issues. The objective is to demonstrate that the student knows how to apply the different concepts studied in the module to the China–United States trade war case. Each of the chapters of the textbook (Hill, 2014) will provide a guide of the topics affected by the China–United States trade war situation. The answer asks for the main issues, for the most relevant implications, not all of them. Examples of main themes:
- Origin and background (Trump’s “unfair trade” claim, trade deficit, Chinese reaction, etc.)
- Main chronological events.
- Major effects (industrial employment both in USA and China, US farming -cereal exports and machinery-, main sectors affected, consumers prices, capital investments, implications for other countries, etc.).
- Most relevant implications: reactions in China, reactions in USA (political -Congress-, reactions of the agricultural and business sectors, etc.).
NOTE; THIS TEXTBOOK IS THE MOST IMPORTANT SOURCE, I WANT IT TO BE INCLUDED IN ALL QUESTIONS
Textbook: Charles W. Hill, 2014. International Business: Competing in the Global Marketplace, Global Edition, 10th Edition, McGraw-Hill.