Year: Spring 2022
Instructor: Dr. Trinh Bao Ngoc
Students:
- Nguyen Thi Thanh Huyen
- Nguyen Duy Anh
- Vu Thi Bich Phuong
- Can Thi Mai Anh
- Nguyen Thi Diem Quynh
Abstract
Cooperation between countries and different economies is an inevitable trend for development in all aspects, but contradictions and trading conflicts still exist even though they have been resolved by many methods. This article suggests the use of game theory to resolve conflicts of economic cooperation between countries in the WTO participating in global cooperation. Therefore, the purpose of using game theory is to understand and analyze the behaviour or decisions of global cooperative countries that are one the typical cases of conflict situations. Based on the FEMO [1] algorithm model, it will show the main tensions when cooperating based on trade and protectionist principles, and point out common causes leading to domestic conflicts and conflicts when cooperating between countries’ families. From there, we came up with issues that need to be resolved including unfair competition between economic cooperation partners, the need to use domestic goods and taxes caused by the trade war to minimize failures, aim to solve problems and offer some strategic choices for players who use game theory joining the world trade market.