Topic: Economic effects of trade wars between major economies
Research Question, Thesis Statement, and Paper - You will develop a six- to eight-page (current APA Style) research paper. Develop your topic into one clear concise research question and create a thesis statement. Compile your (one) question, thesis statement, and research into a written four- to six-page written paper. You must also include a title page and reference page in the six- to eight- pages of your research paper. You can write from any perspective or lens that interests you: historical, scientific, technological, engineering, or mathematical. This research paper must include the following elements:
Title-page
Body (four to six pages)
Introduction - Informs the reader what you are going to write about and includes your thesis statement. Be sure to make it interesting so the reader will want to continue and read the rest of your work.
Body of the Paper - Goes through each point you want to illustrate by providing your ideas and your research about the topic. Be sure you write an opening sentence for each paragraph that will draw your reader into your idea or point.
Conclusion/Summary - Reminds the reader what you wrote about in your work. It is similar to the introduction but with a concluding statement.
Reference page
Title: The Economic Effects of Trade Wars between Major Economies
Introduction: Trade wars between major economies have become a significant concern in recent years, with countries resorting to tariffs and trade barriers to protect their domestic industries. This paper aims to explore the economic effects of trade wars and analyze the consequences they have on both the participating economies and the global economy as a whole. By examining the impact of trade wars on employment, consumer prices, economic growth, and international trade patterns, we can understand the complexities and potential risks associated with such conflicts.
Thesis Statement: Trade wars between major economies have detrimental effects on employment, consumer prices, economic growth, and international trade patterns, posing risks to both the participating countries and the global economy.
Body of the Paper:
Negative Impact on Employment
Trade wars disrupt global supply chains, leading to job losses in export-oriented industries.
Companies facing higher import costs due to tariffs may reduce their workforce to maintain profitability.
Retaliatory actions by targeted countries can result in job losses in industries that rely heavily on exports.
Increased Consumer Prices
Tariffs and trade barriers raise the cost of imported goods, leading to higher prices for consumers.
Domestic industries protected by tariffs may exploit their position by increasing prices due to reduced competition.
Rising consumer prices can erode purchasing power and hinder economic growth.
Impaired Economic Growth
Trade wars create uncertainty and reduce business confidence, leading to decreased investments.
Reduced access to foreign markets limits export opportunities and stifles economic expansion.
The negative impact on employment and consumer spending further hampers economic growth.
Disrupted International Trade Patterns
Trade wars can shift trade flows as countries seek alternative markets and suppliers.
The imposition of tariffs and retaliatory measures can distort global trade patterns.
Disruptions in international trade can lead to inefficiencies, reduced productivity, and a decline in overall welfare.
Conclusion/Summary:
Trade wars between major economies have far-reaching economic effects that extend beyond the participating countries. They disrupt employment, increase consumer prices, impair economic growth, and alter international trade patterns. While countries may initially engage in trade wars with the intention of protecting domestic industries, the long-term consequences can be detrimental for both the participating economies and the global economy. Policymakers should carefully consider alternative solutions and approaches to resolve trade disputes without resorting to protectionist measures that harm economic prosperity.