The growing markets for industrial products

New tariffs are not the answer to global climate challenges”

As part of its recent Green Deal, the EU is planning to impose tariffs on those who do not meet its climate standards. The policy sounds logical—but it won’t work in practice Few policies could be more ill-designed to achieve their stated intentions than the proposal from the European Union to impose a Carbon Border Adjustment Mechanism. In plain language, the CBAM means tariffs would be put on a yet-to-be-defined mixture of imported products from countries which do not meet the standards and ambitions set under the new European Green Deal proposals. The European Commission aims to avert the greatest dangers posed by climate change. That is a laudable objective, but the means of achieving it must be realistic. Bad policy could make the situation worse, and increase the risk that global emissions keep growing. Europe leads the world in taking action to reduce emissions. The Green Deal, which contains strong commitments to electrifying sectors such as transport and developing a new clean energy source using hydrogen, will extend that lead. The Green Deal is supported by the promise of investment from EU and national sources of some €750bn over the next decade. It could seem logical for European politicians to want to ensure that investment in a cleaner, greener future does not force companies to relocate activity to countries where standards—and therefore the costs of doing business—are lower. On this logic products being exported Module Code: 5ECON006W Global Economic Issues S2 2021 Page 3 of 7 from countries not matching European standards would face a substantial tariff at the European border.

The problem with that argument is that the recent relocation of industrial activity away from Europe to emerging economies around the world has not been driven by the price of energy. Serious analysis published by the authoritative Brusselsbased think tank Bruegel confirms that judgment. Relocation is driven by the attraction of new and growing markets for industrial products, from cars to steel to chemicals. Building capacity close to the new consumers in those countries makes perfect sense. Countries such as China and India, along with some of the smaller economies of Asia and Africa, are now driving forces in the global economy. The CBAM tariffs being proposed also ignore the simple arithmetic of greenhouse gas emissions. Europe now accounts for less than 10 per cent of global emissions. The UK accounts for only 1.5 per cent. Both those numbers will continue to fall—because of the continuing switch to lower carbon energy here, but also, and more importantly, because the share of global economic activity accounted for by China, India, and the rest of the world is rising every year. The frontier of the climate change challenge is not in Europe, but in Asia. On unchanged current policies, according to the International Energy Agency, European emissions will fall by almost 30 per cent over the next decade (that is before taking account of the Green Deal), while emissions in Asia will rise by 6 per cent. In Asia the imperative is to encourage the shift away from coal, the source of more emissions than any other form of energy. In China, coal accounts for 60 per cent of all current energy use; in India, 44 per cent. The Asian economy will only reduce its carbon impact through investment in new capital stock: less-polluting factories, steel plants, power stations and transport vehicles. European policy Module Code: 5ECON006W Global Economic Issues S2 2021 Page 4 of 7 should be aimed at engaging with that process of modernisation, encouraging investment and the transfer of technology. Many European companies have much to offer and much to gain through participation in the process. Tariffs will do nothing to advance modernisation. If they limit trade they will hold back economic growth, and leave countries such as India poorer, adding to problems caused by the Covid recession. Poverty and environmental progress do not go together. The true, if undeclared, motive of the CBAM is protectionism. Europe is nervous that its industrial strength in the world is slipping away. The better solution, however, would be to restore Europe’s strength through the application and development of new technology—the key to America’s continued power—rather than trying to preserve uncompetitive businesses through tariffs. There is nothing to be gained from using the Green Deal to create the energy equivalent of the Common Agricultural Policy.

But all this is assuming that they work. And conversely, the second argument against tariffs as proposed by the European Commission and endorsed by MEPs two weeks ago is that they won’t. Europe does not have the capacity to inspect the complex supply chains involved in most traded goods, and will find it impossible to identify the carbon content of any particular products, such as ceramic goods or computers. Without the detail, any tariff would have to be imposed on the basis of generalised assumptions—about whole countries or sectors, penalising some manufacturers who are making great efforts to reduce their carbon impact. The third and probably simplest argument is that a tariff-led approach will face push back in the real world. Trade barriers of any sort are met not by acquiescence but by retaliation. Does anyone in Brussels really think that countries such as China or Module Code: 5ECON006W Global Economic Issues S2 2021 Page 5 of 7 India, or indeed the United States, will meekly accept tariffs being loaded on their exports? Or that Russia will accept tariffs which, if applied at effective levels, would cut off its gas exports? The risk is that the carbon border tariffs would trigger a damaging trade war, while achieving nothing. Some in Brussels say that countries willing to commit themselves to achieving net zero by 2050 would be exempt. That too lacks credibility. The easiest thing in the world for any politician is to “commit” to a target 30 years away. Many have, but few have published detailed plans for meeting such grand ambitions. A greener, lower-carbon world can only be achieved through a common approach to a common challenge, and by shared technology capable of delivering low-cost, low-carbon solutions. The European Union should think again. https://www.prospectmagazine.co.uk/world/new-tariffs-are-notthe-answer-to-global-climate-challenges

Questions

a) Evaluate the impact of tariffs imposed by the EU “under the Carbon Border Adjustment Mechanism on the countries that fail to meet the standards and ambitions set under the new European Green Deal proposals”. (10 marks)

b) “The risk is that the carbon border tariffs would trigger a damaging trade war, while achieving nothing.” – with reference to the quote and theoretical benefits of trade explain why a trade war will be damaging to the global economy ?

Get Professional Assignment Help Cheaply

Buy Custom Essay

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Why Choose Our Academic Writing Service?

  • Plagiarism free papers
  • Timely delivery
  • Any deadline
  • Skilled, Experienced Native English Writers
  • Subject-relevant academic writer
  • Adherence to paper instructions
  • Ability to tackle bulk assignments
  • Reasonable prices
  • 24/7 Customer Support
  • Get superb grades consistently
 

Online Academic Help With Different Subjects

Literature

Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.

Finance

Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.

Computer science

Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!

Psychology

While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.

Engineering

Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.

Nursing

In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.

Sociology

Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.

Business

We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!

Statistics

We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.

Law

Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.

What discipline/subjects do you deal in?

We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.

Are your writers competent enough to handle my paper?

Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.

What if I don’t like the paper?

There is a very low likelihood that you won’t like the paper.

Reasons being:

  • When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
  • We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.

In the event that you don’t like your paper:

  • The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
  • We will have a different writer write the paper from scratch.
  • Last resort, if the above does not work, we will refund your money.

Will the professor find out I didn’t write the paper myself?

Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.

What if the paper is plagiarized?

We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.

When will I get my paper?

You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.

Will anyone find out that I used your services?

We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.

How our Assignment  Help Service Works

1.      Place an order

You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.

2.      Pay for the order

Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.

3.      Track the progress

You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.

4.      Download the paper

The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.

smile and order essaysmile and order essay PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!

order custom essay paper

The growing markets for industrial products

New tariffs are not the answer to

As part of its recent Green Deal, the EU is planning to impose tariffs on those who do not meet its climate standards. The policy sounds logicalbut it wont work in practice Few policies could be more ill-designed to achieve their stated intentions than the proposal from the European Union to impose a Carbon Border Adjustment Mechanism. In plain language, the CBAM means tariffs would be put on a of imported products from countries which do not meet the standards and ambitions set under the new European Green Deal proposals. The European Commission aims to avert the greatest dangers posed by climate change. That is a laudable objective, but the means of achieving it must be realistic. Bad policy could make the situation worse, and increase the risk that global emissions keep growing. Europe leads the world in taking action to reduce emissions. The Green Deal, which contains strong commitments to electrifying sectors such as transport and developing a new clean energy source using hydrogen, will extend that lead. The Green Deal is supported by the promise of investment from EU and national sources of some 750bn over the next decade. It could seem logical for European politicians to want to ensure that investment in a cleaner, greener future does not force companies to relocate activity to countries where standardsand therefore the costs of doing businessare lower. On this logic products being exported Module Code: 5ECON006W Global Economic Issues S2 2021 Page 3 of 7 from countries not matching European standards would face a substantial tariff at the European border.

The problem with that argument is that the recent relocation of industrial activity away from Europe to emerging economies around the world has not been driven by the price of energy. Serious analysis published by the authoritative Brusselsbased think tank Bruegel confirms that judgment. Relocation is driven by the attraction of new and growing markets for industrial products, from cars to steel to chemicals. Building capacity close to the new consumers in those countries makes perfect sense. Countries such as China and India, along with some of the smaller economies of Asia and Africa, are now driving forces in the global economy. The CBAM tariffs being proposed also ignore the simple arithmetic of greenhouse gas emissions. Europe now accounts for less than 10 per cent of global emissions. The UK accounts for only 1.5 per cent. Both those numbers will continue to fallbecause of the continuing switch to lower carbon energy here, but also, and more importantly, because the share of global economic activity accounted for by China, India, and the rest of the world is rising every year. The frontier of the climate change challenge is not in Europe, but in Asia. On unchanged current policies, according to the International Energy Agency, European emissions will fall by almost 30 per cent over the next decade (that is before taking account of the Green Deal), while emissions in Asia will rise by 6 per cent. In Asia the imperative is to encourage the shift away from coal, the source of more emissions than any other form of energy. In China, coal accounts for 60 per cent of all current energy use; in India, 44 per cent. The Asian economy will only reduce its carbon impact through investment in new capital stock: less-polluting factories, steel plants, power stations and transport vehicles. European policy Module Code: 5ECON006W Global Economic Issues S2 2021 Page 4 of 7 should be aimed at engaging with that process of modernisation, encouraging investment and the transfer of technology. Many European companies have much to offer and much to gain through participation in the process. Tariffs will do nothing to advance modernisation. If they limit trade they will hold back economic growth, and leave countries such as India poorer, adding to problems caused by the Covid recession. Poverty and environmental progress do not go together. The true, if undeclared, motive of the CBAM is protectionism. Europe is nervous that its industrial strength in the world is slipping away. The better solution, however, would be to restore Europes strength through the application and development of new technologythe key to Americas continued powerrather than trying to preserve uncompetitive businesses through tariffs. There is nothing to be gained from using the Green Deal to create the energy equivalent of the Common Agricultural Policy.

But all this is assuming that they work. And conversely, the second argument against tariffs as proposed by the European Commission and endorsed by MEPs two weeks ago is that they wont. Europe does not have the capacity to inspect the complex supply chains involved in most traded goods, and will find it impossible to identify the carbon content of any particular products, such as ceramic goods or computers. Without the detail, any tariff would have to be imposed on the basis of generalised assumptionsabout whole countries or sectors, penalising some manufacturers who are making great efforts to reduce their carbon impact. The third and probably simplest argument is that a tariff-led approach will face push back in the real world. Trade barriers of any sort are met not by acquiescence but by retaliation. Does anyone in Brussels really think that countries such as China or Module Code: 5ECON006W Global Economic Issues S2 2021 Page 5 of 7 India, or indeed the United States, will meekly accept tariffs being loaded on their exports? Or that Russia will accept tariffs which, if applied at effective levels, would cut off its gas exports? The risk is that the carbon border tariffs would trigger a damaging trade war, while achieving nothing. Some in Brussels say that countries willing to commit themselves to achieving net zero by 2050 would be exempt. That too lacks credibility. The easiest thing in the world for any politician is to commit to a target 30 years away. Many have, but few have published detailed plans for meeting such grand ambitions. A greener, can only be achieved through a common approach to a common challenge, and by shared technology capable of delivering low-cost, low-carbon solutions. The European Union should think again. https://www.prospectmagazine.co.uk/world/new-tariffs-are-notthe-answer-to-global-climate-challenges

Questions

a) Evaluate the impact of tariffs imposed by the EU under the Carbon Border Adjustment Mechanism on the countries that fail to meet the standards and ambitions set under the new European Green Deal proposals. (10 marks)

b) The risk is that the carbon border tariffs would trigger a damaging trade war, while achieving nothing. with reference to the quote and theoretical benefits of trade explain why a trade war will be damaging to the global economy ?

Get Professional Assignment Help Cheaply

Buy Custom Essay

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Why Choose Our Academic Writing Service?

  • Plagiarism free papers
  • Timely delivery
  • Any deadline
  • Skilled, Experienced Native English Writers
  • Subject-relevant academic writer
  • Adherence to paper instructions
  • Ability to tackle bulk assignments
  • Reasonable prices
  • 24/7 Customer Support
  • Get superb grades consistently
 

Online Academic Help With Different Subjects

Literature

Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.

Finance

Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.

Computer science

Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!

Psychology

While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.

Engineering

Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.

Nursing

In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.

Sociology

Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.

Business

We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!

Statistics

We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.

Law

Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.

What discipline/subjects do you deal in?

We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.

Are your writers competent enough to handle my paper?

Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.

What if I don’t like the paper?

There is a very low likelihood that you won’t like the paper.

Reasons being:

  • When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
  • We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.

In the event that you don’t like your paper:

  • The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
  • We will have a different writer write the paper from scratch.
  • Last resort, if the above does not work, we will refund your money.

Will the professor find out I didn’t write the paper myself?

Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.

What if the paper is plagiarized?

We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.

When will I get my paper?

You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.

Will anyone find out that I used your services?

We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.

How our Assignment  Help Service Works

1.      Place an order

You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.

2.      Pay for the order

Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.

3.      Track the progress

You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.

4.      Download the paper

The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.

smile and order essaysmile and order essay PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!

order custom essay paper
Why we are the best
Our Free Services
Why Hire Our Writers?