International Trade Theory

ASSIGNMENT 5 (Chapter 5-7th edition/Chapter 6 -9th edition)

Question 1
Government support for a particular industry is a very controversial topic, especially for those that support fair and free trade.

a) Drawing upon the new trade theory and Porter?s theory of national competitive advantage, outline the case supporting government policies that would build a national competitive advantage in biotechnology.

b) What kind of policies would you recommend that the US government adopt?

c) Are these policies at variance with or against the free trade philosophy?

Useful Links:
http://www.goodjobsfirst.org/corporate-subsidy-watch/biotechnology
http://www.bio.org/sites/default/files/PromiseofBiotech.pdf
http://eon.businesswire.com/news/eon/20120426006326/en/bioeconomy

Question 2
The world?s poorest countries are at a competitive disadvantage in every sector of their economies. They have little to export. They have no capital; their land is of poor quality; they often have too many people given available work opportunities; and they are poorly educated. Free trade cannot possibly be in the interests of such nations. After what you have read so far in this class and after watching the below video, please discuss!

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