Question
Hi please help me ! Background Imagine that you work for the World Bank and you have been called to Ghana to aid the new
Hi please help me !
Background
Imagine that you work for the World Bank and you have been called to Ghana to aid the new president to come up with a new international trade strategy.
You are told that the new government is interested in moving away from agriculture and into manufacturing. To do so, the government wants to pursuit a policy of import substitution industrialization (ISI).
You are given a brief about Ghana highlighting the following points:
- About half of Ghana's population depends on agriculture, but Ghana still imports some of its food.
- The majority of Ghana's people live in rural areas and exist on a subsistence way of life.
- Ghana has one of the highest rates of income inequality in the world.
- Nearly half of the population is employed in agriculture.
QUESTION 1
Marcia Anthony, the Trade Minister, argues that the country should not adopt ISI. She asks you to help her explain the benefits of trade with a diagram. Please draw this diagram and explain its intuition.
QUESTION 2
The Minister for Labour, John Ring, argues that closing the country's borders to international trade will create employment. Use a diagram to explain this scenario.
QUESTION 3
Kelly Stuart, an RMIT-trained economist at the Ministry of Labour argues that the policy change will ultimately hurt consumers. Use a diagram to explain her thinking.
Thank you! Your explanation means a lot to me :)
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