Task: PART A: Structural Frameworks/Theoretical Traditions Using the readings supplementary literature as recommended or desired, describe in your own words, and citing appropriate sources, any three (3) of the following theoretical traditions of International Political Economy a. Realism ? international economy as a vital economic tool b. Liberalism? roles of international economic institutions c. Marxism? class struggle and colonies at international level d. Constructivism ?norms of economic society for growth and performance PART B: Critical Analysis The Global economy faces some huge unsustainable imbalances that taken together with the Global banking system's fragility and the failure of 9 years of low-interest rates to have done much to help out the Global Economic leave the Global economy in a fragile state. The Covid-19 pandemic is another economic shock that needs political decisions to mitigate the negative economic and political impacts. One of these substantial Global imbalances is the trade deficit between the USA and China and the USA and the EU. In light of the above, please answer the following questions through this economics assignment: 1. Assess the current magnitude of the trade imbalances between the USA and China and the USA and the European Union. Critically analyze the impact of the Covid-19 lock-down political decisions on the trade imbalances. The imposition of trade tariffs. Present your findings using numerical analysis and charts. 2. Offer some analysis of what you think the global economy's effects maybe should the trade imbalances continue to grow. Here you can reference, for example, the effects on exchange rates, employment, and wages in the USA, China, and the European Union economies.
Subject Name: Economics
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