Name Nguyen Thanh Vinh

Student ID 20200855

Assignment #2: Due March 14, 2022

Chapters 3 & 4 discuss business in a global perspective and business ethics. After studying
chapters 3 & 4, please conduct the following research, and prepare answers in less than two
pages.
1. Come up with a question on the two chapters, and describe why you came up with the
question, and how you will explore the question in the future.
Question: How government manage to control the import and export flow so that it
bring the benefit to the national economy?

I have this question when thinking about the effects of import and export. We import
goods or service, which we need but cannot produce or produce with less quality. We
have to pay value for that (money or other goods / services). We export goods / services
that we can produce and have better quality than some others. And of course we receive
values in exchange. The unfavorable scenario is we have import value more than export
value, which means we spend more than receive. That decrease national total value
(money). On the other hand, if we have export value more than import value, the value
flows into country will be benefit for national total values. But this not always the
favorable scenario because if we receive more money than we spend, and not spending
the benefit money, then what is their purpose? We export more than import also means
our nation utilize goods and service less than we can produce. Therefore, I am very
curious about how to manage the import and export effectively.

2. Name the top three countries your home country is trading most with, and discuss
why those countries tend to have strong trade relationships with your home country.
Don’t forget to incroporate approriate data to support your arguement.

Answer: Vietnam

According to data from 2019, the top 3 trading partners of Vietnam are: China, US,
and Korea, Rep with total export and import value of $117M, $75M, and $66M respectively.

* Partnership with China:

With a long border in the North area, Vietnam and China are neighbors with trading
partnership for a long time. However, Vietnam always has a trade balance deficit with China.
We import goods and services from China more than we export ours, this has been happening
for many years and increase over time. Vietnam dependends on China for intermediate
products, which include machinery, equipment, vehicles and tools for producing finished
products. Vietnam export a lot of raw products, vegetables, fruit to China (easy
transportation, preserve food quality, etc). Vietnam is 6th trading partner of China.

* Partnership with US
Vietnam is 28th largest trading partner of US with main import from US is electrical
machinery, cotton, and plastic. Vietnam is also the 6th largest supplier of good import with
main categories: electrical machinery, furniture and bedding, knit apparel. The supply and
demands from argriculture products to machinery that drive the trading process between
Vietnam and US.

* Partnership with Korea Rep.

Vietnam and South Korea has a long time of trading products, with annual increase of 21.6%
in export and 16% import (Vietnam → South Korea) since 1995. Main export from Vietnam
are Telephones (Samsung manufacturer, LG, …) Broadcasting Equipment and Broadcasting
Accessories. Main import from Korea are Integrated Circuits, Telephone, and Broadcast
Accessories.
※ When you submit your homework, it must be submitted in PDF FORMAT.
Submissions in other format(hwp, docx, …) will receive a 20% reduction in grades.