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Trade Policy and Offshoring Strategy

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Please help me with the following questions :

a. Why do nations trade with one another? (Ricardo's Comparative advantage)
b. What is Dynamic Comparative Advantage? What are the implications of this for the current debate on "Outsourcing" and "Off-shoring?" (Vernon's Theory)
c. What strategies should corporations adopt to minimize the impact of off-shoring on its employees?

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Solution Summary

This solution explains the answers to a series of questions regarding trade policy and off-shoring jobs. It includes an explanation of dynamic comparative advantage and how it relates to outsourcing; it also provides a suggestion for how companies can minimize the impacts of off-shoring work on it's employees.

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1. Nations trade with one another based on the natural resources and/or business products sold within a country that may not be as plentiful in another country.

2. Dynamic Comparative Advantage is when a pattern of comparative advantage has changed based on some outside factor such as time or technology. For example, the United States ...

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