Following recent trade disputes in clean energy supply chains, several major trading blocs, including the United States, China, and the European Union, have implemented steep tariffs, import quotas, and local content requirements on electric vehicles, photovoltaic cells, and critical battery minerals. The International Monetary Fund (IMF) has warned that such geoeconomic fragmentation and the proliferation of trade barriers could reduce long-term global economic output by up to 7%.
Evaluate the likely impact of an increase in protectionism within green technology and strategic industries on the global economy.
103 exam-style questions on Edexcel A A Level Economics 4.1 International economics, covering 4.1.1 Globalisation, 4.1.2 Specialisation and trade, 4.1.3 Pattern of trade, 4.1.4 Terms of trade, 4.1.5 Trading blocs and the World Trade Organisation (WTO), 4.1.6 Restrictions on free trade, 4.1.7 Balance of payments, 4.1.8 Exchange rates, and 4.1.9 International competitiveness. Each one has a worked solution and a mark scheme showing where the marks go.