How has the covid pandemic affected trade in goods

Reference no: EM133682257

Homework: International Economy

Fulfills the general education requirement in Explorations in Social Sciences. The writing homework is designed to give you practice in applying economic concepts to real world issues as well as to hone your argumentative and writing skills.

Task

I. According to the article "Down but not out," how has trade survived during the covid-19 pandemic? Why the drop in trade relative to GDP during the pandemic has been smaller than during the financial crisis? Please also refer to the Chart of World Merchandise Trade (% change on a year earlier) in the article for details.

II. According to the article "Changing places," summarize how globalization had evolved in the period from the mid-1980s until 2019. How has the covid-19 pandemic affected trade in goods and services respectively in recent years?

III. According to the article "Stronger links," what has been the trend for supply chains in recent years since 2020? As mentioned in Chapter 2_part 2 PowerPoint slides, reshoring production to the United States has started since 2013. What is reshoring? Does reshoring help adapt to the new era after the covid¬19 pandemic? Why or why not? How can firms and governments adapt to the new era?

Reference no: EM133682257

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