Schools of thought
Which of the 3 IPE schools of thought does not see IPE as inherently conflictual?
Liberalism
According to Hecksher-Ohlin, does a country have a comparative advantage in goods produced from its scare factors, or abundant ones?
Abundant
Which group of notable countries have successfully developed in the past 50 years?
Asian Tigers (Singapore, South Korea, Taiwan)
Name the current U.S. Secretary of State
Marco Rubio
What was Trump's nickname for Marco Rubio in the 2016 primary?
Little Marco
What is the role of the state, according to liberalism?
Establish and enforce property rights to facilitate market-based exchange
According to Stolper-Samuelson, what happens to the price of a country's scarce factor when trade with other countries is introduced?
It falls
When was mercantilism most popular?
Colonial period of the 17th-18th centuries.
What security concerns might China have that are relevant to these negotiations?
U.S. military presence in the region, American weapons sales to Taiwan.
Why might someone with more regional pride be more protectionist?
They are more invested in preserving the character and well-being of their area than they are in maximizing overall gains through free trade.
Name the most important actors in each of the 3 IPE schools of thought
Mercantilism: the state
Liberalism: individual
Marxism: classes
According to Rogowski, if land is abundant and both labor and capital are scarce, will we see an urban/rural divide or a class divide?
Urban/rural
When (roughly) was Marx writing his theories?
mid-late 19th century
What is Taiwan's most important export?
Semiconductors/chips
Name 2 reasons discussed by Coughlin for why someone might be opposed to free trade
Job loss
Environmental degradation
Weakening labor standards
What factor shapes the divide between workers and capitalists, according to Marxism?
Control over the means of production.
How does Hiscox measure factor mobility?
By comparing profit rates and wages across sectors
When did China join the WTO?
2001
Why might Silicon Valley oppose Trump's trade war?
Their supply chains are very international, and they rely heavily on Chinese and European markets
Why might someone (especially a Marxist) say that land shouldn't be it's own category of actor in Rogowski's theory?
Because people engaged in farming deal with the same basic class divide that everyone else does: worker or capitalist. The fact that their business is a farm is not really relevant.
China joining the WTO is an example of their embrace of which of the 3 schools of thought?
Liberalism
Mayda and Rodrik argue that the shift to free trade is caused by democratization, as opposed to...
External pressure from organizations like the IMF
How can the repeal of the Corn Laws be seen as example of the transition from mercantilism to liberalism?
British gave up on their domestic market in order to gain more overall wealth through focusing on their comparative advantage (textiles, other manufacturing).
What is the name of the top Chinese LLM?
DeepSeek
What would a Marxist critique of the idea of "factor endowments" be?
That these factor endowments are not natural, but the products of class struggle and other historical developments. Therefore, it's misleading to take them as given.