porter s diamond and other trade theories

APA Format (4-6 pages, not including cover and reference pages)

Chapters 6 & 7 of Hill, C. W. (2016), Global Business Today (10th ed.). New York: McGraw Hill Irwin.

ISBN 978-0-07-811291-1

Take the Porter Diamond in the text and the various theories of trade as your reference and construct your personal trade theory and strategy for the USA. Make sure you include a discussion of environmental issues and the role of the WTO.

Assignment Preparation Topics:

1. The Theory of Comparative Advantage that includes the Heckscher –Ohlin Theory on Factor Endowments as the basis of Comparative Advantage and Leontief’s paradox and Samuelson’s Critique .

2. The New Trade Theory including the Product Life Cycle Theory.

3. Main tools for protectionism: tariffs, quotas and non-tariff barriers. Effective Rate of Protection.

4. Self -interest approach to trade policy, the social objectives approach, the political science approach and the Baldwin approach.

5. Main issues relating to trade and the environment. In particular the Kuznets curve and the top challenges in including environmental issues in trade talks.

6. Porter’s Diamond theory of National Competitive Advantage

7. Implication of trade theory and policy for managers?

8. The website www.wto.org for its role and function in world trade.

9. The website of the United State Representative, www.ustr.gov and the official position on the WTO and the major priorities of the President’s Trade Policy Agenda.

10. The website critical of the WTO www.iatp.org (based here in Dinkytown) – former Executive Director is our new Secretary of State for MN

11. The website of the EU http://europa.eu/index_en.htm

12. The main arguments for making trade fair and reforming the WTO as found in Oxfam’s site http://www.maketradefair.com/en/index.htm

13. The main arguments in the text page 233 why America’s tariff system is toughest on the poor.

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