M1.1 Week1 dissc

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Colorado State University, Fort Collins *

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500

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Economics

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Jan 9, 2024

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docx

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Uploaded by olgabondareva

The example I’m using for this week’s discussion question is my planned purchase of a Toyota vehicle. 1. What was being traded and with whom i.e, country and or company? The sold good in this case is a car by Toyota, which is a trade between the United States, where the car will be purchased, and Japan, where Toyota is based. This trade relationship is especially important now that the US and Japan have formed an economic agreement to improve the flow of important minerals, which are crucial for the automotive industry, especially for electric vehicles (Goto, 2023). 2. Describe any difficulties or obstacles within the supply chain. What caused these challenges? Like other car manufacturers, Toyota has had problems with its supply chain due to the shortage of semiconductors. The company has changed its products to fit the market, which includes reducing non-essential features (Rigby, Saenz, & Guarraia, 2022). Additionally the new US-Japan trade deal plays a significant role in mitigating these challenges by ensuring a steady supply of critical materials. This helps automakers like Toyota keep their supply lines stable and avoid becoming too dependent on China (Goto, 2023). 3. Who do you think is the winner or the loser of trade agreements? As a result of the trade agreement between the US and Japan and the changes made by automakers, consumers may gain from more stable car prices and availability, and countries like the US and Japan will have stronger economic and strategic ties. It could also be good for automakers like Toyota as their supply lines become more stable. But companies and economies that depend too much on one source for important parts, like China for electric car batteries, as an example, could be the ones that lose. This change shows how important it is for the global auto industry to have supply chains that are diversified. References: Goto, S. (2023, March 29). The US-japan economic partnership roadmap emerges . Wilson Center. https://www.wilsoncenter.org/article/us-japan- economic-partnership-roadmap-emerges Rigby, D., Saenz, H., & Guarraia, P. (2022, November 16). 5 lessons from automakers on navigating supply chain disruptions . Harvard Business Review. https://hbr.org/2022/11/5-lessons-from-automakers-on-navigating- supply-chain-disruptions

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