Explain the forces driving and evaluate the impact of globalization
Discuss the reasons for and methods of governments’ intervention in trade
Understand processes of exporting and importing
Please read Case 5: “Lead in Toys and Drinking Water” available in your e-book (page no.615), and answer the following questions:
Should there be a global standard for toy manufacturing? What are some of the benefits and what are some of the drawbacks of a potential global quality and manufacturing standard?
With some 80 percent of the toys sold in the United States being manufactured in China, should the United States place greater emphasis on its toy-trading relationship with China? Could the United States control China’s manufacturing more than it does today? How?
The Flint, Michigan, water crisis highlighted a major issue in the United States regarding old lead-based pipes used to transport water to the community. This came to light in Flint due to the failure of applying corrosion inhibitors to the water when the city leadership decided to switch water sources. What global fail-safe mechanisms should be enforced on water consumption, and other consumable products, to safeguard from potential lead poisoning?