Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The National Defense Argument talks about how important it is to have a country self sufficient when it comes to manufacturing of products and
The National Defense Argument talks about how important it is to have a country self sufficient when it comes to manufacturing of products and commodities that nations need for their citizens to do well. It also talks about how in a time of war or crisis like we are experiencing now, you don't want to be dependent on an other country for rice, or cars or certain key manufacturing industries. But now COVID19 helps us to understand how critical so many sectors are for national defense. In a pandemic do we want to be dependent on China for masks or Italy for drugs? Lets find articles that highlight how inter connected and global our trade relationships are and where we are most vulnerable. IN this discussion you will discuss the following: 1. Identify an industry that is highly global in terms of its supply chain. 2. Discus why you think this global supply chain has the potential to be a problem and as a result, how the country could potentially use the national defense argument to either reduce external trade or give subsidies and incentives to local manufacturers. 3. How can we ensure that our companies still maintain high global standards if they benefit from so many subsidies under national defense. You can also give an example of what happens to an industry where they have not remained competitive while benefiting from government subsidies.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started