Assessing the Impact of Covid-19 on International Trade in [Country of Choice] with The Great Reset

Introduction and Background Context

“There is an urgent need for global stakeholders to cooperate in simultaneously managing the direct consequences of the Covid-19 crisis.” (WEF, 2021).

To improve the state of the world, the WEF have started “The Great Reset Initiative” (GRI) project (www.weforum.org/great-reset).  It offers insights to help inform all those determining the future state of global relations, the direction of national economies, the priorities of societies, the nature of business models and the management of a global commons.

Supported by the GRI project, assess the future impact upon international trade from the continuing Covid-19 pandemic upon ONE of the countries listed below:

Brazil; Russia; India; China; South Africa

Learning Outcomes: (Most important part of any assessment)

1. Identify and critically assess the major features of the Global Economy, the shifts economic power and FDI trends
   
   
2. Employ Comparative Advantage and related trade models in analysing a country’s role in the world economy

1-Introduction – Brief background context- what is Globalisation? Define some of the terms you will use in your report (e.g. FDI and protectionism). Clearly outline which country your report discusses in detail and state which company/industry example you will draw on in your report discussions….signpost the reader to what you will look at and discuss further in the main body of the essay.

2 - What is the general picture in terms of international trade during the uncertainty of the coronavirus pandemic and what role does your country of choice play in the world economy?  For example, is this a developed economy or an emerging economy? FDI trends and GDP growth forecasts could be included here.  (Aim to increase critical analysis themed content, as opposed descriptive).

3 - How has your country of choice responded to international trade issues – who are their main trading partners though remember to focus your examples on one trading partner/nation.  What are your country’s main imports and exports and how have these been affected? How have supply chains been disrupted –.

 4 – bring in a detailed example to support the points above – either a company example or industry example for your country of your choice. Provide the practical insight to what the economic implications of Covid-19 have been for a company / industry in this country.

5 - Application of appropriate economic trade theory – such as absolute and comparative advantage or supply and demand side economics to explain how and why the country has responded the way it has.  Remember Ricardo’s Economic Theory.

6 - Finally, what are the overall implications - is your chosen country rethinking their international trade strategy to reduce their vulnerability to the global economic shock? What is the longer-term outlook for globalisation? Any other relevant considerations, such as the anti-globalization critique or cultural implications, which are of relevance for your chosen country in question and the economic implications of Covid-19 for them.

7: - Summary and conclusions – reiterate the main points of your report in this final paragraph. Do not add anything new into your conclusion, but just summarise the main points you covered to answer the question.

8:- reference list – aim for a minimum of approximately 20 references within this list