Free Trade and 9/11 Attack
Different Views on Free Trade
In responding to a question that pointed out that tariff elimination will result in low prices and some jobs will likely be terminated in the import-competitive industries, only 32% of the public were in favor of this move. Results from the survey showed that Americans acknowledge both the advantages and disadvantages of international trade (Coughlin, 2002). A larger percentage of them think that free trade has several advantages in terms of more innovation, lower prices, and an increased variety of products. On the other hand, some think that free trade will result in low wages and few opportunities for jobs in some labor force segments. Need help with your assignment ? Reach out to us. We offer excellent services.
A cost-benefit analysis may be used to weigh the advantages and disadvantages of this policy. International trade is essential for entire sectors in the economy of America, and agreements that do not protect the sovereignty and interests of the United States ought to be rejected. Globalization is a process that comes with numerous benefits. It has brought economic advantages to several people, providing both scientific and cultural enrichment globally.
The 9/11 Attack
On September 11, 2001, four planes were hijacked by 19 terrorists (Rose, 2010). The main plan of the terrorist was to cripple the economy of the United States by destroying the White House, Wall Street, and the Pentagon, which are the three centers of power.
Several impacts arose from this attack. There was a death toll of 2977, excluding the hijackers. In accordance with a 2002 report, the physical damage was estimated to cost $55 billion. There was an immediate economic impact since the stock market was closed after the attack for four days. The war on terror, which was launched by President Bush, cost the United States $29.3 billion.
The 9/11 attack is still fresh in the minds of many Americans, particularly the death toll where nearly 3000 folks died. A number of changes have taken place since the attack, among them being the creation of the Department of Homeland Security and the increased presence of the military in Afghanistan. We should learn from these attacks that there is a need to plan for the unexpected and emergency preparedness.
References
Coughlin, C. C. (2002). The Controversy Over Free Trade: The Gap Between Economists and the General Public. Retrieved from https://files.stlouisfed.org/files/htdocs/publications/review/02/01/1-22Coughlin.pdf
Rose, A. Z. (2010). Total Economic Consequences of Terrorist Attacks: Insights from 9/11. Retrieved from https://create.usc.edu/sites/default/files/publications/totaleconomicconsequencesofterroristattacks-insightsfrom9_0.pdf
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Question 
Free Trade and 9/11 Attack
Part 1
By the 1990s, the US was stepping into the “Information Age”. This would coincide with the presidency of Bill Clinton. One can also see this as a period when global connections really became more visible and faster, in part because of new trade agreements around the globe. In North America, there was NAFTA—the North American Free Trade Agreement. By the late 1990s the US economy was entering a dynamic period of growth.
Choose and discuss one of the following two topics related to the American history under President Clinton:
- Discuss opposing viewpoints about free trade during the 1990s.
- For the period of the Clinton presidency, identify one view of those favoring “free trade” and one view of those who were opposed.
- Explain how you would weigh the pros and cons of this policy. In hindsight, what is your view of NAFTA? Is globalization good?
Free Trade and 9/11 Attack
- Identify the source(s) where you read about these “free trade” issues of that time.
- Discuss the “economic rebound” of the late 1990s under President Clinton.
- Identify three of the “package” of changes that characterized the economic boost of the “information revolution” in the late 1990s.
- Discuss and explain what you think was the most important of these changes. What can we learn from that sort of period of economic rebound?
Identify the source(s) where you read about these changes during the late 1990s. For guidance, view this short video.
Number of pages: 1/2
References/sources: 1
Part 2
Between 200 and2016, the US experienced remarkable changes internationally and domestically. By any measure, the terrorist attack of Sept. 11, 2001, was a game changer. With that a long, still-ongoing “war on terror” began that meant military engagements overseas and increased domestic security measures. In 2008, remarkably, the US elected its first African American president, Barack Obama. He was elected to a second term in 2012.
Choose and discuss one of the following two topics related to American history under Presidents Bush and Obama:
- Discuss the Sept. 11 (2001) attack and its impact.
Free Trade and 9/11 Attack
- Describe what stands out to you (perhaps from memory) from the events of Sept. 11, 2001
- Give two examples of events or changes since 9/11 that you attribute to that terrorist attack. In your view, what should we learn from this attack and our experiences trying to deal with it.
- Identify the source(s) where you read about these free trade issues of that time.
- Discuss president Obama’s election and presidency. (Considering our many explorations of race relations and Civil Rights in our history, there is much that can be said of President Obama’s election and presidency, and it is still perhaps too early to evaluate fully.)
- Identify two specific examples that you think were the most important developments of Obama’s presidency.
- Explain why you chose those two examples.
Identify the source(s) where you read about these changes of the early 21st Century.
Number of pages: 1/2
References/sources: 1