From Resources to Riches
In This Chapter
• Countries with resources finding riches or ruin
• Distributing revenues
• Developing better resources
As more people in more countries join in international trade, the scope of trade deepens. More people in more places contribute their special skills and their region’s special advantages in resources, climate, and culture. But do these trade advantages just appear at random? What role do institutions,firms, and individuals play in identifying and developing regional resources? We’ll answer those questions in this chapter.
Use It or Lose It
Chinese firms are enormous producers of clothing because they have a vast supply of inexpensive labor. Brazilian producers sell many, many tons of coffee ...