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Critically evaluate, using diagrams where appropriate, Vernon's product life cycle theory as a framework with which to explain the location, trade and foreign investment behaviour

Critically evaluate, using diagrams where appropriate,

Vernon's product life cycle theory as a framework with which to explain the location, trade and foreign investment behaviour of multinational enterprises over time in the international economy. Emphasise, in particular, the framework's major strengths and weaknesses. (10 marks)

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