This essay will be around 2500 words, exclude graphs, tables and references.
You must draw graphs and tables to support and analysis this essay.
You must read through The Economist article “The Gated Globe” (I will also send you it) at first before you start the essay. (Or u can read it online: http://go.galegroup.com/ps/i.do?id=GALE%7CA345258242&v=2.1&u=monash&it=r&p=AONE&sw=w&asid=92bf19b4bb87d8d667c01ff9a2b5013f)
Next, go through at least one of the following websites: www.imf.org, www.cia.gov and www.oecd.org and choose any country from the available list. Note the trading history of your chosen economy relative to its major trading partners over time.
Using country-specific trade statistics, demonstrate and describe the general pattern of trade experienced by your chosen economy in the last 50 or so years. Assess whether this economy has become more or less dependent on international trade over that period and discuss some possible reasons for your observed trends.
Next, focus on the country’s economic performance from 2007 onwards. How was it affected by the global financial crisis (GFC) in 2007-09? What country characteristics did it have that aggravated the impact of the GFC? Alternatively, what country characteristics enabled this country to escape the devastating effects of the 2007-0 GFC? Post-GFC, is there evidence that the economy have become more “gated” after experiencing this wide-ranging economic shock? Evaluate the economy’s post GFC policies, highlighting the effects of any changes that may have occurred since. What economic lessons can we learn from this economy in terms of avoiding or minimizing (the effects of) a financial crisis should such come around again? Provide an opinion on the country’s economic prospects for the foreseeable future.
Tips: Make up an interesting title for your essay – one that is short but captures the essence of your analysis. Draw on your knowledge of trade theories learned in class to enrich your economic analysis. It is equally important that you draw also on your knowledge of relevant domestic and/or international factors that may have influenced these economies over the study relevant period, where such knowledge can come from your own research reading. In your post GFC analysis, use the ‘Gated Globe’ article to guide you in your discussion.
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