Free Trade Agreements

Given the return to protectionist strategies that we have seen post -financial crisis as governments seek to protect their domestic economies, it is interesting to see a number of free trade agreements being discussed this week. To aid with application and context, pupils might be interested to read about the following agreements that have been in the media this week between

UK and South Korea

USA and South Korea

Canada and Japan

Given this context, for revision purposes it might be worth considering the macroeconomic consequences of such deals and use this to contrast against the reasons for, and consequences of protectionist strategies.