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1- Review the WTO and the regional trading agreements. Which do you think is more effective in promoting free trade, the global or regional cooperative agreements? Why?
2. Based on what you have learned in Chapter 3 "Culture and Business", the opening case study on the EU in this chapter, and Section 5.2 "Regional Economic Integration", do you think countries with distinctively different cultural, historical, and economic histories can effectively enter into a trade agreement? Select one regional trading bloc and discuss the economic motivations for that group of countries to form an agreement. Use Hofstede's cultural dimensions. Do you think the countries in the trading bloc you selected are likely to have cross-cultural similarities or differences?
3. Identify two countries, one in Africa and one in either Asia or Latin America. Research each country's history with the IMF and the World Bank. Has the country accepted loans from either organization? What were the terms of the loans? Discuss whether the loans achieved the initial purpose and whether the country is better or worse off as a result of working with these institutions. Have the loans helped expand the prospects for businesses, local and multinational?
-Requirements-
You have 3 questions to answer for chapter 5. You do not need to write lengthy answers.
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