Some interesting things I learned about are that the type of industries in the countries can affect the GDP, and also that the location of the capital and the countries can affect the type of industries and the GDP of the country. For example, our territory was Scotland, and our main industry was mining, Scottish whisky, and agricultural industries. Some products had to pay for a lot of tariff when exporting the product, but some products were able to free trade.
Completing this project I learned that trade war and the tariff can actually affect me in real life. For example, if I were living in U.S., I won’t be able to get products from Huawei, since the trade war between U.S. and China disabled Huawei to export their product to U.S.. Before this project I used to think that the tariffs and trade war doesn’t really affects me, now I think that the trade war and the tariffs can affect me since the price of a product could change because of the tariff or even not able to get it in a country. The driving question impacts us because we used imported products from other countries, but if the relationship between countries get worse or if there is a trade war between the two countries, the price of the products rise or even we aren’t able to get the product.
Looking back on this project, I realize that trade war and tariffs are really important in our life, and sometimes it is necessary to protect the citizens. For example, if Chinese government imports potatoes from Scotland without any tariff, Chinese farmers could lose their job since the potatoes from Scotland is much more cheaper than the potatoes from China. However, a big question I still have is if there are any ways to protect the citizens from job loss but still providing the consumers cheap priced but better quality products.