Write a 700 to 1050 word paper on the 2 economies assigned to your team. Except for Team A, each pair of economies has 1 very successful country and 1 not so successful country.
Team A: NAFTA vs European Union (world’s 2 largest economic entities)
Team B: China vs India (world’s 2 most populous countries)
Team C: South Korea vs North Korea (2 polar economic opposites, one people)
Team D: Venezuela vs Saudi Arabia (world’s 2 largest sources of oil reserves)
Team E: Nigeria vs Democratic Republic of the Congo (Civility vs. Chaos) (Note: the Republic of the Congo is not the same country as the Democratic Republic of the Congo)
Research each economy assigned to your Team. Compare similarities and differences between your assigned countries/economies and how their economic, political, and cultural development since 1992 has influenced their economic growth and trade competitiveness.
Use tables and/or graphs to support your analysis of the following economic statistics/indicators of your 2 assigned economies through the most recent year available since 2009 (the trough of the last economic cycle). Whenever possible, plot the metric for both economies on the same chart.
GDP per capita growth over time
Inflation rate over time
Unemployment rate over time
Exports as a % of GDP over time
National government debt as a % of GDP
Evaluate the reasons why the economic growth of the 2 economies/countries varied. Discuss how international trade influenced the strength of each economy. Discuss the role of value chains and value-added production.
Analyze how the failure to use value-added trade measures distorts trade statistics. For example, Boeing and Airbus airliners, Apple iPad and iPhone production, and North American integrated auto and light truck manufacturing.
Examine at least 2 industries that have provided each economy a comparative advantage in world trade.
Cite at least 2 academically credible sources.
Format your citations according to APA guidelines.
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