First, provide a brief (one paragraph) overview of this week’s material.
On the other hand, every individual living in the global economy and thus at least one thing that is involved in someone life come from a different nation. This links the people to the international trade which is growing dramatically. The wave of globalization started in the 19th century, and it achieved the impressive integration in the second half of the century (cnx.org, 2018). It was later affected by the World War I, and during the great depression, most of the countries tried to avoid the foreign trade. It later regained its strength in the 1980s. The world is connected on multiple levels, especially in economic perspective. Therefore, the nation requires trade policies, laws and strategies to use for it to regulate the international trade. This is because of the competitive threat of the firms and workers from high-income countries like the USA and medium income countries Mexico (cnx.org, 2018). Also, some politicians have worried that their nation may be over-dependent on key imported products, e.g., oil which is a threat to the security. These fears lead to the set of basic policy conclusion involving protection of national interests by restricting imports.
2. Discuss whether or not workers are exploited in the manufacturing of US imports. In your response consider whether they are better off in that type of job or an alternative. Provide a rationale.
The people working in the manufacturing firms of U.S import are being exploited, and these lead to the adverse impacts on the international labor rights and regulations. For instance, the company supplying for Apple is Foxconn Inc and is based in Shenzhen China. However, Samsung which is the biggest competitor of Apple supplies many of the iPhone parts to Apple. But both of the firms cannot work together since both companies need to design an elegant of its ease use thus exploiting their workers.
3. Examine whether or not US consumers should boycott or increase in the purchase of these goods, and the effects that boycott or increase in purchase would have on the workers.
In an instance of the US consumers boycotting the purchase of the product in the market, it will lead to the unemployment of many workers due to poor demand, sales, and profit generated from the market. In an instance of increased purchase of the same product, it will lead to the increased employment of the workers due to increased demand and better income for the firm. This results from the law f demand and supply that is regulated by the economic forces.
4. Should standards be set for work rules in other countries? Or, should work rules be left to the political system in a particular country?
The standards should be set for the workers rule the other countries so that they can provide an international legal framework for the stable and fair globalization (Timothy, 2000). The standards will also be essential providing a path for decent work, act as a means of economic performance improvement, provide safety in times of economic crises to workers globally, and act as a sum of the international knowledge and experience for the workers. It may also act as a way of reducing poverty in the developing nations since every working standard will be applicable in all nation globally thus eliminating any form of unfairness.
5. If work rules are set, who should set them and how should they be enforced?
The setting of the work rules should be done by the Congress. This will enable easy enforcement since the rules should be published in the workplace policies of the worker’s handbook. There will be the provision of training to the workers, supervisors and the managers concerning workers rules and how to apply them, come up with the disciplinary actions for those who defile the rule and lastly encourage every individual to practice them.
cnx.org. (2018). 20 Introduction to International Trade. Retrieved from Macroeconomics: https://cnx.org/contents/[email protected]:TcqgYaWh@5/Introduction-to-International-
cnx.org. (2018). 21 Introduction to Globalization and Protectionism. Retrieved from Macroeconomics: https://cnx.org/contents/[email protected]:cklYzL7i@4/Introduction-to-Globalization-
Timothy, T. (2000). Principles of Economics: How Trade Policy Is Enacted: Globally, Regionally, and Nationally. Open source.