Global Economic Challenges
OER PROJECT: WH / LESSON 9.3OPENERGLOBAL ECONOMIC CHALLENGESUnless otherwise noted, this work is licensed under CC BY 4.0. Credit: “Global Economic Challenges,” OER Project, www.oerproject.com/PurposeAnalyzing potential global economic events will help you understand the pros and cons of these interconnections. Process1.Read each of the three scenarios below. Choose onescenario to analyze in the table that follows.A.A fire in a semiconductor factory in Taiwan has disrupted the global supply of microchips. Car manufacturers in Germany and smartphone companies in the United States are facing delays in production due to chip shortages.B.The US and China are in the middle of a tariff warthat has escalated the prices of goods. Some retailers in the US are raising prices on goods that will be paid by American consumers. Chinese businesses are having a difficult time selling their stock and have slashed prices to sell off their goods in non-US markets.C.Unusual weather patterns and drought in Brazil have damaged coffee crops. As a result, global coffee prices are rising, impacting coffee shops, restaurants, and grocery stores around the world.QuestionResponseWhat is the main issue in this scenario?How does this issue show global economic connections?Who is impacted by the problem and in what regions of the world do they live?What does this scenario tell you about the advantages and risks of a global economy?2.If you can, share your answers with a classmate who chose a different scenario.