Liberal Economic Policies China and the USA Question

You may choose any 3 of the 4 questions below. You may write a maximum of 100 words for each answer. 33 points each. The test is 75 minutes long, using our entire class period. Closed book and closed notes. No search on the internet either. Question #1: Why is liberalism the international economic policy base for both China and the United States? How is this possible for a socialist/communist political regime and a representative democracy? Name two specific international economic policies that each country uses. Question #2: Explain two of the structuralist views of international political economy. What does each of these views recommend for international economic policy for a country? Question #3: What is Germany’s international economic policy? How would they or how do they regulate the activities of Mittal? What would be the best policy for Germany with respect to this company if Germany wants to maximize the economic benefits? Question #4. Which country should specialize in producing and exporting which product, and why? You must use the numbers in your answer. Integrated circuits clothing (shirts) ——————————————————————————-China $2,000 $10 ——————————————————————————-Malaysia $3,000 $12 ——————————————————————————-The numbers in the table are the cost in US dollars to produce each product with complete specialization. Why does comparative advantage not always work well? Why might this example not work?