International Political Econ

1) Compare and contrast major features of the political economy of the US, Japan and China, drawing on Gilpin, McNally, and lectures. I suggest you use the categories advanced by Gilpin, namely, the purpose of economic activity, the role of the state, and characteristics of the corporate sector, to structure your analysis. 2) Pretend that you are speaking to your grandfather, who is upset with US trade relations with China. Write a paragraph explaining to him what the current and capital account are, why we have a current account deficit overall, and in particular, why we have a one with China. Conclude with a brief assessment of the risk inherent in this situation for the US. (5 points) 3) Gilpin critiques the neo-classical conception of the economy in Chapter 3, but as perceptively noted by a student, did not use those points in Chapter 8 in his discussion on trade. Detail three of his critiques about economics, and propose corresponding questions that you would ask him about how they might apply to trade theory rtri '-trirr"-""nr‘nt° is nnintr"                                                    

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