Question 1.

International trade is subject to trade regulations and industrial policies. The Kingdom of Saudi Arabia is also subject to these regulations because of signed trade treaties or membership in various trade organizations. For this week’s discussion, please:

1. Discuss Saudi Arabia’s participation in the World Trade Organization (WTO).
2. Then, compare and contrast the Kingdom’s WTO involvement with its participation in the Gulf Cooperation Council, League of Arab States, and the Trade and Investment Framework Agreement (TIFA) Saudi Arabia signed with the United States.
3. Which membership or trade agreement benefits Saudi Arabia the most?
4. Please explain your position.

Question 2.

Trade Policies for the Developing Nations
International trade provides benefits to a country’s producers and consumers. However, some economists warn that developing countries are disadvantaged by the current international trading system.

1. Select an Eastern European country that belongs to the European Union (Bulgaria, Czechia, Hungary, Poland, Romania, Slovakia, Slovenia).
2. Provide the most recent economic data for that country, then discuss how membership in the European Union affected the economic conditions in the past 10 years in the country you selected.
3. Discuss the economic trade policies would you implement to continue the economic rise of the country you analyzed?

Question 3.

The balance of payments is the record of the economic transactions between a country’s population and the rest of the world. International trade can be affected by a nation’s balance of payments. In a critical essay, please:

1. Select a country of your choice (other than Saudi Arabia) and observe the last balance of payments issued by that country. Does the country run a current account deficit or surplus?
2. What are the driving factors for the deficit or surplus?
3. What policies should the government implement to improve the external position of the country?

Question 4.

Economic and monetary policies and/or sanctions have a direct impact on international trade. For this week’s discussion, please:

1. Discuss the Russian-Ukrainian war that began on February 24, 2022, and the subsequent economic sanctions against Russia. Specifically, appraise the effect for Russia of being disconnected from SWIFT, losing the Most Favored Nation status, losing its oil export to the United States, and being barred from obtaining loans from the International Monetary Fund and the World Bank.
2. Distinguish the implication of these sanctions for Russia’s trading partners.
3. Appraise how the Kingdom of Saudi Arabia can navigate the new economic climate caused by this crisis.