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Please help with following questions: (b) i. Calculate the average GDP growth rate and trade decit level during the period 2001 - 2020. [3 marks]
Please help with following questions:
(b) i. Calculate the average GDP growth rate and trade decit level during the period 2001 - 2020. [3 marks] ii. Tariffine 25) [2 marks] (c) Describe the four roles of the WTO. [4 marks] (d) Illustrate using a diagram why the alleged subsidising of Chinese industries provides their producers with an advantage on world markets? [4 marks] t for steel in the USA of the (e) Illustrate using a diagram of the impact on the marke ttax on one Chinese steel good to government's proposed decision to impose a 256 per can protect domestic producers. [4 marks] (0 Explain why unemployment may have continued to rise in China, since 2001, despite very high growth during the same period? [4 mar/cs] your knowledge of economics evaluate the view (g) Using information from the passage and that the WTO members should impose 'anz'idumping tari' against China. [15 marks] ,,' V ( [NTHINKING Having joined the WTO, many Westem countries etyiecled China to soon liheralisc and become an open market economy. This second in a series of three columns describes how China has been able to shrug of] pressures to change its economic structure and trading strategy, particularly regarding how its state-owned enterprises operate within the multilateral system. China and the \"TO: An uneasy relationship On 1 1 December 2001. China ofcially joined the WTO. Its achievements since then have been truly remarkable. In 2001, China was the sixth largest exporter of goods in the world (fourth, if the European Union is counted as one unit). Since 2009, it has been the world's largest goods exporter. surpassing even the EU bloc from 2014 onwards- Fast export (and import) growth has boosted GDP growth and income levels. According to the IMF'S April 2021 WEO database, China's GDP amounted to barely 13% ofthe US GDP in 2001. Twenty years later, this ratio is likely to reach 73%. During the same period, China's per capita income (measured at purchasing power parity) rose from the level of Sudan in 2001 to nearly the level of Mexico today. But China's integration in the world economy has created frictions, especially with the US, which has long had massive trade decits with China. In 2019, US goods and services trade with China totalled an estimated $635 billion. Exports were $163 billion; imports were $472 billion. The US goods and services trade decit with China was $309 a far cry from the forecast when China joined the WTO and the value of trade between the two nations was valued at $54,355 million. Critics of China's trade policy, not only in the US but also in the EU, often argue that China has failed to respect its WTO obligations. When the nation joined the organisation China agreed to become a full market economy, reduce its dependence on subsidies for state owned businesses which critics then argued were dumped on overseas markets. In turn, this has led to retaliation with China facing almost arbitrary import tariffs under anti-dumping rules from other WTO members. The United States, for example, is considering a 256 per cent tax on one Chinese steel good to protect domestic producers. Key economic indicators China (yearly average) 6131" arrtthf/o .Uhemplgyret%, 1.13211111115 _$11-.71-1mpStep by Step Solution
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