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WORLD TRADE AGREEMENTS In the following map of the world, you can…
WORLD TRADE AGREEMENTS
In the following map of the world, you can see several of the major trading blocs in Europe, Asia, North and South America identified by an approximate circle and a letter. From the information in your book, identify the different major trade agreements that correspond to each letter/group in the map. Also, state what TYPE of trade agreement is in place in that region (i.e. Free Trade Area, Customs Union, Common Market, or Economic/Monetary Union).
Image transcription text
A D B
Complete the following table to identify the trade agreements and agreement types:
Trade Area Identified Trade Agreement Name Type of Agreement
16 (A)
17 (B)
18 (C)
19 (D)
20 (E)
U.S. TRADE AGREEMENTS
The United States has multiple trade agreements around the world: Some are bilateral agreements (with one other country) and some are multi-lateral (more than one trading partners). Visit the website for the U.S. Trade Representative (https://ustr.gov) and look for the answer to the following questions:
21. How many countries (in total) have signed trade agreements with the United States?
22. How many trade agreements does the United States have?
23. List the U.S. trade agreements that involve multiple countries into one agreement. Include the
name of the agreement and the countries involved.
24. What type of agreement is NAFTA? What is the new name for the agreement?
Part 3: CULTURAL COMPARISSON (30 points)
Understanding a different culture may take a lifetime, but a simple first step could be to use a framework such as Hofstede’s to get a glimpse into the characteristics of a culture (as covered in chapter 4 in your textbook). Hofstede identified different cultural dimensions, and collected data on multiple countries. The result is a “picture” of what each culture is like in terms to those dimensions.
For this assignment, you want to compare the U.S. to a few countries to see which are most similar to the U.S. and most different. To complete this, visit the Hofstede’s website and go to the “country comparison” tool (https://www.hofstede-insights.com/country-comparison/ ). You will select the United States first and then Japan, Mexico and Canada. You will see a bar chart appear with your selected countries and the cultural dimensions scores. Take a close look at the information that is given to you and answer the following questions:
25. Complete the following table with the scores for both countries
Country Power Distance Score Individualism Score Masculinity Score Uncertainty Avoidance Score Long Term Orientation Indulgence
United States
Japan
Mexico
Canada
26. Which country is most different to the United States culture? Explain your answer. Include in your answer what the three major differences with this country’s culture are.
27. Which country is most similar to the United States’ culture? Why do you think they are similar?
28. Under what dimension is Mexico and U.S most different? What challenges could that present to a U.S. manager working in Mexico?
29. Insert the graph (with the screen clipping tool) obtained from the Hofstede website showing the comparison of all four countries and their cultural dimensions.
30. Erase all countries from the chart, select the United States again, and select a new (different) country that you think would be similar in culture to the United States. Include the chart in your answers and a short opinion on how you did in your comparison (could be that the countries are similar indeed or different… just explain your reasoning for the result that you got).
