Evaluate the significance of the Balance of Payments (BOP) results by comparing the BOP (accounts) figures of the selected country while examining how it could be improved and the prospects of a multilateral trade system.
The Assessment Task
You are required to produce a 2,000 correctly referenced report (using the Harvard referencing system) on the questions indicated below – answer all questions.
The assignment cover parts A and B.
Part A
Select one of the following countries as a focal point for your report – Australia, Japan, China and Germany to answer the following questions
Evaluate the significance of the Balance of Payments (BOP) results by comparing the BOP (accounts) figures of the selected country while examining how it could be improved and the prospects of a multilateral trade system.
Outline the basic costs and benefits of economic integration (such as trade creation and trade diversion) while examining the major types of trade barriers that are currently affecting the selected country.
What strategies could be used by exporters in the selected country to avoid foreign exchange risk considering that exchange rates have become much more volatile and less predictable in the international monetary system?
Part B:
Reflect on your assignment and explain what you have learnt from it. How has your critical thinking developed, and identify transferable skills and knowledge obtained?
200 words