4
INTERNATIONAL TRADE THEORIES
LEARNING OBJECTIVES
After reading this chapter, you should be able to:
- Understand the meaning of international trade
- Analyse the classical trade theories
- Compare and contrast the theory of absolute advantage and comparative advantage
- Relate the importance of the product life-cycle theory with trade and product development
- Review recent trends in world trade
CHINA’S TRADE WITH LATIN AMERICA: BOON OR BANE?
China is using a tried and tested strategy of market access and financial aid for its forays into Latin America. The giant from the East has been quietly making countries from this region its new trade destination. Many Latin American countries are heavily indebted, a problem dating back to the 1980s. The Chinese ...
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