Keep in mind that your discussion forum postings will likely be seen by other members of the course. Care should be taken when determining what to post.
The objective of this assignment is to introduce students to issues covered in the business press that are related to the topics discussed in this course. For this assignment students will find and review an article (related to the chapter topic of the week) appearing in business periodicals in the past 6 months. Each student will respond to at least two articles from those posted but not their own (this is the discussion part of your grade). Since there are multiple chapters covered each week it can be an article on any of the chaptersâ€ material. This is a weekly assignment. The original article should be posted to Canvas no later than Wednesday (11:59 pm) of each week so comments can be made before the end of the week (Sunday 11:59 pm) and no duplicates are allowed (first come first served so to speak).
Suggested Business Press Titles
The Wall Street Journal
The Wall Street Journal Asia
Reply to these classmates
1) Karen Chakour
Trumpâ€s $200 billion trade deal with China already at risk due to coronavirus
https://www.nbcnews.com/business/economy/200-billion-trade-deal-china-already-risk-due-coronavirus-n1204326 (Links to an external site.)
As we all know this pandemic has taken a tremendous toll on our economy. The article I just read by Martha C. White on NBC News, talks about the trade deal China and the US had previously arranged before the coronavirus. This trade deal consists of Chinaâ€s commitment to purchase $200 billion in US exports by the end of 2021. Due to this pandemic, supply and demand definitely shocked everyone worldwide causing this trade deal to be at risk. According to studies, U.S exports to China of manufacturing, agriculture and services will only total an amount of $57 billion this year. The total amount due for this year is only a fraction of what was set out to be in the phase one agreement both countries signed. From this article, I learned that the coronavirus has impacted past commitments made whether it be economically, or someoneâ€s ability to meet their very own personal commitments. In the mist of all this chaos, tension has sparked between both countries China and the U.S. Peter Navarro, a trade adviser from the White House had some harsh words towards China. He said China should be responsible and pay a bill for being at fault in creating this ongoing national pandemic that has awfully damaged the entire world. This trade deal that was made before the pandemic arose is slowly escalating a trade war. Both economies are extremely dependent on each other, and they will need to reach a reasonable agreement. Without an agreement the economy itself will completely collapse, despite the corona virus. U.S. exports to china were expected to increase by 37 percent in just the first quarter of this year on a year-over-year basis. Instead of what roughly increasing, it declined by 10 percent. This pandemic has deeply affected international trade in general.
2) Alexia Planos
Trade set to plunge as COVID-19 pandemic upends global economy (Links to an external site.)
Chapter 6 discusses international trade theories, and chapter 7 discusses government policy and trade. According to the WTO, the World Trade Organization, â€œWorld Trade is expected to fall between 13% and 32% min 2020 as the COVID 19 pandemic disrupts economic activity and life around the world.â€ Chapter 6 defines free trade as â€œTrade theory shows why it is beneficial for a country to engage in international trade even for products it is able to produce for itself.â€ Because the coronavirus has a specific way of spreading, it has forced businesses to close and stop performing. With businesses closed worldwide, there have been declines in trade. Governments deciding what to do is essential for trade, fiscal, and monetary policy. By reopening markets, trade will flow naturally again, and the authors of the article believe that â€œif [all] countries work together, we will see a much faster recovery than if each country acts alone.” Chapter 7 begins to explain why a government would need to intervene in a free market; one of the reasons is for â€œprotecting industries deemed important for national security.â€ Since this pandemic is a national problem, governments need to intervene to stabilize businesses and trade. Overall, I believe that trading in a free market is the most successful way to profit, however, when sudden natural disasters occur, it is essential that the government steps in to help the public, the people, and local businesses
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