Assignment Task:
Assignment Question:
This anonymous blog was written in late 2018: “The latest news from The USA is the closure of GM, resulting in massive job losses. Even after all the subsidies and tariff protections afforded to them by the current US administration, American car manufacturers still can’t make cars for a competitive price. Protectionist tariffs have just made the raw materials sourced overseas more expensive. So, America’s competitors now make cheaper cars than the USA. Protectionist policies have actually assisted in the destruction of the US auto industry and made American cars uncompetitive. It didn’t take that long to happen either. More industries will follow. America has been seriously disadvantaged in world markets.” Discuss the accuracy of this blog in relation to World Trade and International Business Law and the doctrine of Comparative Advantage.
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