Lesson 2.3 - Trade Agreements and Trade Organizations
Learning Goals: By the end of this lesson you will be able to
1. Describe how international agreements and trade organizations influence global business activity.
Independent Work
1.Textbook work: Sections 6.2, 6.3, 6.42.Glossary quiz3.Exit card4.Homework Forum Post
Do this quiz before class and after you study the glossary.
The Minister of Finance in China is contemplating whether or not to have a common currency across Mainland China, Hong Kong, Macau, and Taiwan in order to facilitate trade.
With your group, prepare a short presentation to talk about the pros and cons of this idea, and then give a recommendation. Consider whether or not those regions would be in favor or against the idea.
Post your notes to Sections 6.2, 6.3, and 6.4 here by 1 hour before class.
You can check your homework answer here.
- Do this short survey after class to reflect on how class went for you.
Answers
Canada's Role in North American Trade:
- Canada played a pivotal role in NAFTA, a trade agreement with the United States and Mexico that aimed to eliminate trade barriers. The transition to the USMCA in 2020 ensured the continuation of North American economic integration. Canada's involvement underscores its commitment to stable and cooperative trade relations with its North American neighbors.
Diversifying Trade Relations:
- Canada's participation in APEC aligns with its strategy to diversify trade relations. APEC provides a platform for Canada to engage with economies in the Asia-Pacific region, fostering economic cooperation, and exploring opportunities for trade and investment. This aligns with Canada's broader goal of expanding its economic reach beyond traditional markets.
