Question and Answers Assignment

Posted on: 13th May 2023


Directions: In 2-3 paragraphs, please answer the following questions in a comprehensive and detailed manner using your own words, without being verbose (in other words, no fluff). Specifics are important but so are sentence structures and grammar. Finally, give make sure you provide citations to each answer.

1. China is currently in the process of surpassing the US as the largest economy in the world and transitioning from an export economy to a consumer economy. Would it be wise to be in a Trade War with China? How would you argue for or against the Trade War? Please reference your work.

2. Venezuela is currently going through a political upheaval moving from one of the most promising countries in South America to one of the worst. However, they are also an OPEC Country and supplies that US with oil. What trade policy are we currently practicing with Venezuela and is this good for democracy? Support your argument and please reference.

3. Recently (Feb 2021), President Biden launch a counter attack against insurgents in Iran. It was his first military orders. Should he follow this up with an economic approach? How? Please reference your response.

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Question and Answers

Question 1

A trade war with China would not be wise because it could lead to a decrease in exports and an increase in imports, which would have a negative effect on the US economy. It could also lead to the Chinese government imposing tariffs on US goods, which would make them more expensive for consumers and hurt American businesses (Liu, Margaritis, & Zhang, 2019). Furthermore, a trade war could lead to a deterioration of relations between the US and China, which could negatively affect the global economy.

Arguments for a trade war with China include the fact that China has been engaging in unfair trade practices, such as intellectual property theft, forced technology transfers, and currency manipulation (Liu, Margaritis, & Zhang, 2019). These practices have put American companies at a disadvantage and cost American jobs. As a result, a trade war could pressure the Chinese government to change its policies and level the playing field for American businesses.

Arguments against a trade war with China include that it would be costly for American consumers and businesses and could lead to a decline in global trade. Moreover, whether a trade war would effectively change Chinese policies is unclear. For example, the Chinese government could respond to US tariffs by imposing its tariffs, and it might be difficult for the US to get other countries to support its trade policy (Liu, Margaritis, & Zhang, 2019).

Question 2

The United States currently has a trade embargo in place against Venezuela. The embargo prohibits the export of goods, services, and technology to Venezuela (Mijares, 2021). The embargo also bans US citizens from investing in Venezuelan companies. The goal of the embargo is to pressure the Venezuelan government to change its policies and restore democracy to the country.

The trade embargo has had some success in weakening the Venezuelan economy. However, it has also had negative consequences, such as increasing poverty and hunger in Venezuela. Moreover, the embargo has not succeeded in restoring democracy to Venezuela. The US government has said that it is willing to lift the embargo if the Venezuelan government agrees to hold free and fair elections (Mijares, 2021). However, it is unclear whether the Venezuelan government is willing to make this concession.

The current trade policy toward Venezuela is not good for democracy. The embargo has not restored democracy to Venezuela and has instead caused hardship for the Venezuelan people. The US government should lift the embargo and pursue other methods of promoting democracy in Venezuela.

Question 3

The United States should follow up its military action in Iran with an economic approach. The goal of the economic approach should be to pressure the Iranian government to change its policies and stop supporting terrorist organizations (Alaaldin, 2021).

One way to pursue this goal would be to impose sanctions on Iran. Sanctions could target the Iranian oil industry, banking sector, and other key parts of the economy. The goal of sanctions would be to weaken the Iranian economy and make it difficult for the government to support terrorist organizations.

Another way to pressure the Iranian government would be to provide economic assistance to countries affected by Iran’s support for terrorism (Alaaldin, 2021). This assistance could include financial aid, security assistance, and other forms of support. This assistance would make it harder for Iran to support terrorist organizations and pressure the Iranian government to change its policies.

The United States should also pursue a diplomatic approach toward Iran. The goal of diplomacy should be to resolve the underlying issues that lead to Iran’s support for terrorism (Alaaldin, 2021). This might entail collaboration with other countries to find a solution to the Syrian conflict, resolve Iran’s difficulties, and foster better US-Iranian ties.



Alaaldin, R. (2021, February 26). Biden’s decision to strike Iran’s proxies is a good start. Retrieved from Brookings:

Liu, M. H., Margaritis, D., & Zhang, Y. (2019). The global financial crisis and the export-led economic growth in China. The Chinese Economy52(3), 232-248.

Mijares, V. M. (2021). The Foreign Policy Assertiveness of the Latin American Petro-State: Venezuela’s Enduring Patterns. Problems and Alternatives in the Modern Americas, 262-284.

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Peter Seiyanoi

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