How does President Trump’s statements about trade relate to what we have read/watched about economic globalization?
What are his statements about trade?
"We believe that trade must be fair and reciprocal. The United States will not be taken advantage of any longer. For decades, the United States opened its economy — the largest, by far, on Earth — with few conditions. We allowed foreign goods from all over the world to flow freely across our borders. Yet, other countries did not grant us fair and reciprocal access to their markets in return. Even worse, some countries abused their openness to dump their products, subsidize their goods, target our industries, and manipulate their currencies to gain unfair advantage over our country. As a result, our trade deficit ballooned to nearly $800 billion a year. For this reason, we are systematically renegotiating broken and bad trade deals....Many nations in this hall will agree that the world trading system is in dire need of change. For example, countries were admitted to the World Trade Organization that violate every single principle on which the organization is based. While the United States and many other nations play by the rules, these countries use government-run industrial planning and state-owned enterprises to rig the system in their favor. They engage in relentless product dumping, forced technology transfer, and the theft of intellectual property....But those days are over. We will no longer tolerate such abuse. We will not allow our workers to be victimized, our companies to be cheated, and our wealth to be plundered and transferred. America will never apologize for protecting its citizens." – President Trump, 2018 UN Assembly Speech
https://www.investopedia.com/articles/investing/051515/pros-cons-trade-deficit.asp
To understand how President Trump's statements about trade relate to what you have read/watched about economic globalization, you can follow these steps:
1. Research President Trump's statements on trade: Start by finding reliable sources, such as news articles or official statements, that quote President Trump's remarks on trade. Look for instances where he has expressed opinions or taken actions related to economic globalization.
2. Study economic globalization: Review what you have read/watched about economic globalization. Economic globalization refers to the increasing interdependence and integration of economies worldwide through the exchange of goods, services, capital, and technology. Look for key concepts and trends, such as free trade, protectionism, multinational corporations, and global supply chains.
3. Analyze the connection: Compare President Trump's statements on trade with the principles and impacts of economic globalization that you have learned about. Look for similarities, differences, or any significant changes in policies, practices, or rhetoric. Consider aspects like protectionist measures, trade agreements, tariff policies, reshoring of industries, or the role of multinational corporations.
4. Consider the context: Examine the broader context in which President Trump's statements were made. This could involve political factors, domestic concerns, economic indicators, or international relations. Understanding the context will help you interpret the motivations or goals behind his statements and their relation to economic globalization.
5. Analyze the consequences: Assess the potential consequences of President Trump's trade policies on economic globalization and its effects on various stakeholders. These consequences might include impacts on domestic industries, international trade relations, global market dynamics, employment, consumer prices, or overall economic growth.
By taking these steps, you can assess how President Trump's statements about trade align with or diverge from what you have learned about economic globalization. This analysis will enable you to make connections and evaluate the significance of his stance on this issue.