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Teaching Resources
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EconActive Solutions (CNN News Questions)
Chapter 3: Free Trade: Eilm02v1
- Discuss the benefits of free trade.
- Should Most Favored Nation status be granted to China even though the country has committed human rights violations?
- Once Japan removes its trade barriers in the four key industries, what do you expect to happen?
Answers:
- Lower prices, more output, and more variety of goods and services
- There are solid arguments on both sides: Clinton would argue that granting China MFN status would open China up to more scrutiny from the West, thereby encouraging reform. Others argue that by granting China MFN status we are rewarding them for abusive behavior.
- Expect that imports in these industries will rise, prices will fall, and Japanese consumers will have more choices.
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