Video Cases - Part V

These questions are based on videos from the Canadian Broadcasting Corporation that accompany the textbook. In addition to whatever in-class use your instructor may have given them, they're available on this website for online viewing. If directed to do so by your instructor, you can answer the questions online and email the results.
     These videos are intended only for students using the 9th Canadian Edition of Macroeconomics. To view the video, you'll require a password. Refer to page 42 in your textbook and use the first word appearing in the main text column as both 'username' and 'password.' Use of the word is case-sensitive.
     The free RealPlayer plug-in is required in order to view the videos. If needed, the plug-in can be downloaded from Real.

This documentary focuses on the protestors in Seattle, Washington during the World Trade Organization meeting. It examines why the protestors want to put the brakes on globalization. It includes a portrayal of a group heading down from Vancouver, British Columbia and looks at what their concerns are regarding world trade and the facilitation of it. The documentary looks at the threats world trade poses to Canada in terms of health care, social services, food standards (such as genetically modified foods), labour standards and the environment.

Concepts covered: Protectionism, tariffs, quotas, voluntary export restrictions, specialization, resource productivity.

Required: 1) Watch the video carefully 2) Read the key economic concepts found on pages 3-4 of the text 3) Answer the questions below, either individually or as part of a small group.

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1		World trade, as the video shows, is a very controversial issue. Many economists favour increasing the amount of trade between countries, yet some people are concerned about increasing the level of world trade. Why would some people such as those interviewed in the program feel that "The World Trade Organization poses a threat to Canada"? Why are many economists (and politicians) for increasing trade between countries?
2		If a country does decide to introduce protectionist policies, i.e. it wishes to restrict the quantity of foreign goods that are sold within its economy, then what are the actions that its government can take? Do you believe that each of these actions, when used by the Canadian government, are beneficial to the Canadian economy?
3		What are some of the counter arguments given in the textbook for protectionism?
4		Research Canada’s Department of Foreign Affairs and International Trade report entitled Canada’s State of Trade, on the web at http://www.dfait-maeci.gc.ca/eet/state_of trade/tradeupd2001-e.pdf. According to the report, what are the trends that have been developing with respect to trade? Do you believe that these trends are good for Canada’s economic well- being? Use the text and the video to help you in your answer.