DQ 1: Why do nations trade with one another? Why have the US and United Kingdom historically promoted “free trade,” and what are alternatives to “free trade”? Does a trade deficit mean that a country is losing in a “trade war”? What should be the goal of a nation’s trade policy, and why? Refer to any applicable trade theories, such as comparative advantage, mercantilism, Hecksher-Ohlin, or others in the reading or from your own research.DQ 2: What are three principle regional/and or international institutions, other than the World Bank or International Monetary Fund? How do these institutions influence the pattern of global economic relations? Are these influences positive or negative? Why?
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