Case Study: Inequality, Poverty and Trade Liberalization - Business Assignment Help

Assignment Task:

Short Answers:

From the six (6) questions below, select three (3) and answer them applying the knowledge learned and discussed during classes. 

1. How did the changing comparative advantage of developed and developing countries push for a General Agreement on Trade in Services?

2. How does the liberalization of trade in services require modifications of domestic regulations?

3. What are the major causes of inequality growth in developing countries? 

4. What is the main difference between constructive and destructive inequality? Explain the difference in giving some samples. 

5. Debate whether the Eurozone is an Optimum Currency Area and critique why or why not. 

6. Compare and contrast differences and similarities between the BRICS countries

Case Study – Inequality, Poverty and Trade Liberalization

Many developing countries began to open their economy in the 1980s and 1990s in order to increase economic growth and since then, some countries have achieved remarkable economic growth in the last two decades. This growth is supposed to lead to the reduction of poverty and income inequality. However, although some developing countries, such as Brazil, India and China, experienced rapid economic growth over the past two decades, poverty only decreased slightly and inequality increased.

According to several empirical studies, the areas that are more exposed to trade liberalization experienced a smaller reduction in poverty and inequality. Urban areas will suffer from lower poverty and inequality. In the rural area, households who produce exportable commodities will gain the benefits of trade liberalization, while households who previously produced protected commodities will be poorer.

The slight decrease in income inequality in Brazil and China is due to greater growth in income compared to rural vs urban areas, as the increasing returns to human capital due to growth acceleration. On the other hand, the growth acceleration in India is related to a lower association between the percentage of GDP and social protection.

Essay Question: 

According to the paper above, write a short analysis in essay form about “Trade Liberalization and the Effects on the Agricultural sector in Developing Countries”. In order to structure your essay, consider the following points: 

• Critically analyze the effects of trade liberalization, poverty and income inequality in developing countries. You can rely on your knowledge about any of the developing countries listed in Table 1 and name samples about some market reform or market restructure that happened in recent years. 

• Consider the role of the national governments eradicating poverty and balancing economic development in those countries. 

• State the contribution of the WTO into the responsibility of balancing inequality in rural areas and less advantaged areas. 

• Analyze the effects of trade liberalization on sustainable development in developing countries. 

• Consider tariffs, trade agreements and the effects of import substitution on agriculture in the developing countries from Table 1.  

• For the essay, you may want to concentrate more on a single country. 

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