Respond to two discussion post with a minimum of 150 works with at least 1 annotated scholarly ciations in APA format.
1)
Tariffs, Quotas, and Embargoes
In international trade, tariffs, quotas, and embargoes can disrupt and at times stop trade with a particular target. By looking at how each action is applied, will show how trade can disrupted. “A tariff is a tax applied to selected categories of imports” (Satterlee, 2018, pg 77). “Quotas, also known as quantitative restriction, to limit the quantity of imports allowed into a nation” (Satterlee, 2018, pg 78). “Embargoes are economic and trade sanctions against targeted foreign countries, groups, organizations, and individuals” (Satterlee, 2018, pg 78).
Each action listed shows the possibility of picking and choosing who to target, while determining who and how businesses can trade with another country. How would international trade look if Matthew 22:36-40 was followed, “‘Love the Lord your God with all your heart, all your soul, and all your mind.’38 This is the first and most important command. 39 And the second command is like the first: ‘Love your neighbor the same as you love yourself.’”
While embargoes are currently the least enforced and used during certain times “Embargoes still exist, but they are difficult to enforce and are not common except in situations of war” (Hirst, n.d.). By loving your neighbor, countries could avoid wars and ultimately stop any embargoes.
After finding the purpose of quotas, being to reduce the quantity of a product into a country. This practice hurts some of the smaller businesses by blocking material after a certain amount. By removing quotas it “will reverse this process, leading to trade creation and the focusing of trade in larger values by a smaller group of exporters” (Fugazza, Conway, 2010). When quotas are used, the power of trade is placed in the “hands of custom officials, these officials determine which nations will be allowed to import” (Satterlee, 2018, pg 78). This practice takes advantage of selected nations, which is not loving God with all of your heart and loving your neighbor.
While tariffs are used in trade wars between countries, this practice is hurting the world from growing globally “in particular, global growth has slowed from around 3.8 percent in 2017 to 2.9 percent in 2019” (Fuceri, Hannan, et al., 2020). By loving your neighbor and allowing countries to trade fairly, the growth of all nations and people will continue to grow.
Easy to Read Version. (2006). Bible Gateway. https://www.biblegateway.com/passage/?search=Matthew+22%3A36-40&version=ERV
Furceri D, Hannan SA, Ostry JD, Rose AK. Are tariffs bad for growth? Yes, say five decades of data from 150 countries. J Policy Model. 2020 Jul-Aug;42(4):850-859. doi: 10.1016/j.jpolmod.2020.03.009. Epub 2020 Apr 12. PMID: 32834234; PMCID: PMC7255316.
Fugazza, M., Conway, P., (2010) The impact of ATC quotas on international trade in textiles and apparel. https://unctad.org/system/files/official-document/itcdtab45_en.pdf
Hirst, F., (n.d.) Barriers to Trade https://www.econlib.org/library/Topics/College/barrierstotrade.html
Satterlee, B. C., (2018) International Business: with Biblical Worldview.https://prod.reader-ui.prod.mheducation.com/epub/sn_ceee9/data-uuid-4ea49b3d3e4d4b1d8d37cb433f6c4e2f
2)
Discussion Thread: Biblical Integration: Global Environment and Trade (Question 1)
The knowledge that we learn in the great book of Matthew, along with the Bible as a whole, is knowledge that we as Christians could consider irreplaceable. While Matthew 22:36-40 does not specifically speak of business, a great deal of insight can be gained in regards to our daily work life as Christians, and the business operations of nations. If nations were all to take into consideration biblical wisdom and morals in regards to their practices, such as a strong faith in God, and loving one’s neighbor as themselves, it would serve to form tariffs, quotas, and embargos, founded in fairness, just laws, and just prices. As we read in the wise words of Psalms, “Blessed are those who act justly, who always do what is right.” (“Psalm 106:3 NIV”, n.d.). Nations whom adhere to Christian morality, are likely to adhere to acting justly, and doing what is right, as learn about in this verse from Psalms.
We would observe that nations would be conducting business fairly, making a profit by doing their honest, best work, and charging what is necessary, not constantly trying to make trade harder for other nations for the sake of their own personal profit and gain. As Proverbs says in accordance to honesty, “Honest scales and balances belong to the Lord; all the weights in the bag are of his making.” (“Proverbs 16:11 NIV”, n.d.). Nations would seek honesty, fairness, and most likely would promote a positive economical trade economy due to the synchronous harmony of working together, not against each other.
References
Psalm 106:3 NIV. Bible Gateway. (n.d.). Retrieved July 11, 2022, from https://www.biblegateway.com/passage/?search=Psalm+106%3A3&version=NIV
Proverbs 16:11 NIV. Bible Gateway. (n.d.). Retrieved July 11, 2022, from https://www.biblegateway.com/passage/?search=Proverbs+16%3A11&version=NIV
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