Analyze measures of economic growth, and comparative and absolute advantage in international trade for the following countries: USA, China

Part A

 

Develop a 650 word analysis of the international economy in which you do the following:

 

  • Analyze measures of economic growth, and comparative and absolute advantage in international trade for the following countries:
    • USA
    • China
  • Research each country, using such resources as the CIA World Fact Book, World Bank data, and World Trade Organization. Research its economic, political, and cultural development.
  • Compare the following using tables or graphs, for most recent year available and for 2009 (the trough of the last economic cycle):
    • Country GDP per Capita
    • Country GDP as a % of World GDP
    • Country exports per capita
    • Country exports as a % of GDP
    • Country exports as a % of World exports.
    • Country imports per capita
    • Country imports as a % of GDP
    • Country imports as a % of World imports (world imports = world exports)
  • Discuss reasons why the economic growth of the four countries varies so markedly. How does trade influence the strength of the economy worldwide?
  • Determine the stage in the lifecycle for each country’s economy.
  • Discuss the following for each country:
    • At least two products that have provided the country an absolute advantage in trade (if any)
    • At least two products that have provided the country a comparative advantage in trade

      Cite a minimum of two peer reviewed sources.

      See attached

      PART B

      Resource: Bedford Con Industries Data

       

      Develop  notes for the Real-Time Project that will help Bedford Con Industries expand partnership and operations in the European Union

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