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Consider the following statements: (100 marks) Patterns of trade in 2020 can be directly explained using the underlying academic theories associated with both the Ricardian

Consider the following statements: (100 marks) "Patterns of trade in 2020 can be directly explained using the underlying academic theories associated with both the Ricardian and Heckscher-Ohlin models of trade." "There currently exists little empirical evidence for the traditional textbook theories of trade dynamics." Reconcile these statements

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