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Describe and apply the various trade theories to the current global environment: mercantilism, absolute advantage (Adam Smith), comparative advantage (David Ricardo), factor-proportion (Heckscher-Ohlin), product-life cycle

Describe and apply the various trade theories to the current global environment: mercantilism, absolute advantage (Adam Smith), comparative advantage (David Ricardo), factor-proportion (Heckscher-Ohlin), product-life cycle (Vernon), overlapping-demand (Linder), new trade theory (Krugman), national competitive advantage (Porter).Winners and losers of trade.

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