Abstract
Is free trade always good for advanced industrialized countries? Are fears of globalization and outsourcing imaginary, totally unfounded, and misguided? Is the West always going to benefit from technological improvements in the East? This article constructs a few thought experiments to analyze such issues. The article provides some rational insight into the puzzle of why global trade is so controversial. The effects of technological improvements in the East on the welfare of both the East and the West are analyzed. The conclusion highlights some of the less desirable effects of outsourcing in a more globalized world.
| Original language | English |
|---|---|
| Pages (from-to) | 230-260 |
| Number of pages | 31 |
| Journal | International Trade Journal |
| Volume | 24 |
| Issue number | 3 |
| DOIs | |
| State | Published - 2010 |
Keywords
- China
- East-west trade
- Gainers and losers from trade
- India
- Internationaltrade
- North-south trade
- Outsourcing
- Ricardianmodel
- Samuelson
- United states