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Week 3 Economic Discussion

Week 3 Economic Discussion

Q Hey Class Citizens, This week's article comes from an edition of The Economist that was published a few weeks ago, it is titled, 'Shipping Forecast.' I have attached a PDF of the article. I would like you to read the article and write an in-depth paragraph on your thoughts about the growth of shipping and trade supply across Asian, and what kind of effects that will have on the United States as our ports lag behind and our percentage of global demand for goods falls. I understand that this article might be a little advanced, but I want you to focus on original thoughts of what this could mean for our country in terms of supply and demand. There are no right and wrong answers, but it's important to give your honest thoughts and potential ideas where we could improve. Your paragraph doesn't have to be super long, but it needs to be detailed enough to convey your thoughts appropriately. (If you choose to respond to any of your classmates posts, please play nice.) A few notes: Please leave politics out of your response, other than politics due to environmental concerns like mentioned in the article. If you do mention them, they should be impartial and pertain specifically to variables that would have an effect on supply and demand. You all have access to The Economist through the library. I encourage you to take a look and read through some economic articles of your preference, but I will always attach a PDF of the article for these assignments. The article can be a little difficult to navigate, but know that this article is sandwiched between two other articles, so hopefully that'll help!

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Shipping refers to the movement of products physically from one place to another. Ship transport plays a major role to expand the volume of international trade. The history of the trade table shows that there occurred a decrease in imports from Asia to the US declined by 11% in the last year (Notteboom, Pallis & Rodrigue, 2022). Supply and demand equations have the potential to produce and change freight rates in consideration of equilibrium. When supplies are limited, freight prices increase, encouraging ship owners to offer more transportation. The shipping sector gives nations access to the basic commodities they need to grow their economies and it enables the production and export of items and goods at reasonable prices.