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Explore modernization of trade regulations and policy

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Assignment

In your International Economics textbook, Carbaugh (2017, Chapter 7) provided a historical account of OPEC and its power in controlling the global petroleum supply. In a critical essay, investigate the dynamics OPEC has faced in the global market in the last ten years. You may select a member country and analyze the effects from the perspective of that jurisdiction. Support your findings with additional academic references.

• Reviewed and interpreted the history and purposes of trade regulation and policy. We described the origins and workings of the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) and critically evaluated the activities of these organizations. We critically evaluated justifications for various trade regulatory and policy options.

• Explore modernization of trade regulations and policy. We will explain the concept of industrial policy and evaluate government actions that come near to or fall within this category. We will evaluate arguments for trade restriction and/or industrial policy in developing nations in light of the unique effects of international trade on less-developed economies. We will explain the effects of loans from the World Bank and International Monetary fund to developing countries.

Directions:

• Your essay should be 3-5 pages in length, which does not include the title page, abstract, or required reference page, which are never a part of the content minimum requirements

• Chapter 7 in International Economics

• Aditya, A. (2013). Fair trade: is it always 'unfair' for the developing economies? Great Indian Dream.

• Asche, F., Bellemare, M. F., Roheim, C., Smith, M. D., &Tvetaras, S. (2015). Fair enough? Food security and the international trade of seafood. World Development, 67, 151-160.

• Gani, A. (2015). Oman's entry to the World Trade Organisation, trade liberalisation and trade achievements. Atlantic Economic Journal, 43(1), 123-134.

Reference no: EM131703256

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