Here are data on Japanese exports and imports, for 2009. for the same seven prod
ID: 1212140 • Letter: H
Question
Here are data on Japanese exports and imports, for 2009. for the same seven products shown for US. trade in Figure 6. 2: a. For each product for Japan, calculate the IIT share. b. The weighted average of IIT shares for these seven products for 2009 for the United States (using the data from Figure 6. 2) is 54. 5 percent. For Japan for these seven products for 2009, what is the weighted average of the IIT shares? Which country has relatively more IIT in these seven products? c. Japan is an importer of large civilian aircraft. What economic theory or concept best explains this aspect of Japans trade? 12. You are an adviser to the Indian government. Until now. government policy in India has been to severely limit imports into India, resulting also in a low level of Indian exports. The government is considering a policy shift to much freer trade. a. What are the three strongest arguments that you can offer to the Indian government about why the policy shift to freer trade is desirable for India? b. Which groups in India will be the supporters of the policy shift toward freer trade? Which groups will be the opponents?Explanation / Answer
12.
Three strongest arguments are as follows:
1. It makes the Indian business environment to be more competitive and learning curve of domestic players speed up
2. It will help in reduction in prices and increase in quality with more options available to the consumers
3. Increasing free trade will make companies to establish manufacturing setup. It will bring in technology, increase in employment opportunities.
Groups who want to minimize regulations, use imported parts for their products and create employment opportunities will favor the free trade.
Groups who want to protect domestic manufacturers and industries in nascent stage will oppose free trade.
Q. 11 has incomplete data as figure 6.2 is not mentioned. Pl. repost it with complete details.
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