Balance of Trade
Academic subject areas: History/Social Sciences; English; Career-Technical Education
States' Career Clusters: Marketing; Finance; Business Management & Administration
California Industry sector(s): Marketing, Sales, and Service; Finance and Business
Duration: 3 class periods
Grade Targets: 10, 11, 12
Levels of Expertise for CTE: Capstone/Advanced, Concentration/Skill building
Targeted Support Materials: Literacy Support, Math Support
Standards Addressed: Detailed documentation of alignment with Common Core, State and/or Industry Standards included
Keywords: bilateral trade, credibility, currency exchange, deficit, diversified , economic growth, entrepreneurship, exchange rate, export, import, globalization, international trade, specialized industry, stagflation, subsidy, supply and demand , tariff, trade barriers, trade deficit, trade surplus, unemployment
Source: Web Site Credit: Greg Timmons, published by the.News by MacNeil/Lehrer productions and PBS; accessed February, 2012
Curriculum Link: http://www.pbs.org/newshour/thenews/thedollar/story.php?id=3044&package_id=631
After studying differences between US & China, students work in teams to develop a marketing promotion for a product of their choosing to be sold to the Chinese consumer. Their marketing promotion will discuss the status and importance of US-China trade, challenges in working with China and how they could be addressed, specifics of the product to be sold, and why the Chinese consumer will want it.
Expected Student Outcomes/Objectives
Use data tables to analyze the trade relationship between the U.S. and China.
Prepare graphs and charts that illustrate key points regarding U.S.-China trade.
Examine the economic implications of the U.S. trade deficit and assess their seriousness to the nation and its people.
Analyze how a revaluation of China’s currency might impact the U.S.-China trade balance.
Prepare a letter for members of Congress expressing an opinion for or against legislation that would impose a tariff on Chinese imports if China does not revalue its currency.
1. During or after students have viewed the.News story on “China Balance of Trade” ((http://macneil-lehrer.com/thenews/video/balanceoftrade.html) have them work in pairs to complete the graphic organizer on the story’s main topics. Then review the following discussion questions with students:
a. Why are foreign products like those produced by Kanawha Scales and Systems more likely to be imported to China than common consumer goods like home-electronics, clothes, shoes, or cell phones?
b. Describe the benefits for a company like Kanawha Scales and Systems of doing business in China.
c. Why do you think it is important for U.S. companies who want to trade with China to understand the Chinese culture and how its government operates? What aspects of your culture play into the products you buy?
2. With the understanding that the Chinese government restricts the sale of U.S. products that are produced in China, have students brainstorm a list of products or services that could be sold in China and write these on the board. These might be franchised restaurants; natural resource extracting tools for fossil fuels or “green fuels” like solar, wind or biofuels; entertainment services (music, movies, Internet programming); specialized or technological products in transportation or medicine. Set the list aside for now.
3. Have students view the Newshour story “China Consumer Class” from Paul Solomon’s series entitled “China Rising.” http://www.pbs.org/newshour/bb/asia/july-dec05/consumers_10-05.html and fill out the graphic organizer. Review the major points with students.
4. Divide the class into working groups of 3-5 students. Distribute the Marketing Promotion Guidelines handout to each group and review the directions and guidelines. Have each group select one of the products they identified in step 2. Then have students pull information from the two video segments and any outside research appropriate to develop a marketing promotion for that product. Have each group present their marketing promotion to the class.
Culminating Activity and/or Assessment
There are many steps before the final product that can be scored. In assessing the final presentations, teachers will look for supporting facts and effective presentation skills.
Instructional Materials Needed
Computers and Internet access. Capability to access and show an online video from PBS.
Instructional Materials Provided
Graphic Organizer: China’s Balance of Trade Story from the.News website (http://macneil-lehrer.com/thenews/video/balanceoftrade.html)
Graphic Organizer: China’s Consumer
Newshour story “China Consumer Class” http://www.pbs.org/newshour/bb/asia/july-dec05/consumers_10-05.html#
Marketing Promotion Guidelines Template
This lesson has been designed to support the.News video “Balance of Trade.” The video can be found online at http://www.pbs.org/newshour/thenews/thedollar/story.php?id=3044&package_id=631. The material includes excellent graphic organizers and many relevant resources that will allow extended activities to go in-depth on International Trade and Globalization.
Look for another lesson on the same pdf that also follows the viewing of the PBS video.