Wha are the risk and oppotunities that China’s Belt and Road Initiative presents for African countries. Give somes examples of the opportunities and the risks.

Is it legitimate to impose higher safety standards on imported goods that exist in the foreign country where the goods were produced?

Who does protectionism protect? From what does it protect them?

Can you think of ways that globalization has helped you economically? Can you think of ways that it has not?

If the removal of trade banters is so beneficial to international economic growth, why would a nation continue to restrict trade on some imported or exported products?

What is splitting up the value chain?

What are some ways that governments can help people who lose from trade?

How does protectionism affect the price of the protected good in the domestic market?

Suppose we extend the circular flow model to add imports and exports. Copy the circular flow diagram onto a sheet of paper and then add a foreign county as a third agent. Draw a rough sketch of the flows of imports, exports, and the payment for each on your diagram.

Why might Belgium, France, Italy, and Sweden have a higher export to GDP ratio than the United States?