Q4: Imaginary Mining
Imagine you have discovered a deposit of a valuable mineral on land you own on a small island in the Pacific Ocean. Describe what the mineral can be used for, and identify two nations that would make sense to trade with and why.
What can your mineral be used for?
What two nations would make sense to trade with and why?
The mineral discovered on the small island in the Pacific Ocean can be used for a variety of purposes. It could be a rare earth mineral used in the production of high-tech electronics such as smartphones, computers, and advanced medical equipment. Additionally, it could be a precious metal like gold or platinum used in jewelry-making or as a store of value.
Two nations that would make sense to trade with for this valuable mineral are Japan and South Korea. Both countries are known for their advanced technology and manufacturing industries, making them major consumers of rare earth minerals and metals. Japan, in particular, relies heavily on imports of these minerals for its electronics and automotive industries. South Korea is also a major player in the electronics industry and would benefit from a stable supply of the mineral for its manufacturing needs.
By trading with Japan and South Korea, the island owner can establish lucrative trade partnerships that benefit all parties involved. Additionally, these countries have the infrastructure and expertise to process and utilize the mineral effectively, maximizing its value in the global market.