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The Distributional Consequences of Trade Opening. Read the article More Pain than Gain from The Economist's September 14th, 2006 print edition. Answer the following questions:
The Distributional Consequences of Trade Opening. Read the article "More Pain than Gain" from The Economist's September 14th, 2006 print edition. Answer the following questions: (a) In light of the Stolper-Samuelson Theorem, why the entry of emerging economies into the world markets has caused U.S. wages to stagnate and profits to soar? (b) Do you think that trade between the U.S. and developing economies like India and China may have damaged the U.S. economy as a whole
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