Read the article, Here, There and Everywhere, from The Economist. Write a report on the following assigned questions in your own words.
Do not merely copy the words or sentences in the article or line up unrelated answers to the assigned
questions. You may use as references the article, your textbook, and your class notes. No other sources
are allowed, so you do not need to include a reference list or citation list. This is an individual assignment.
The report should be two pages at most, 1.5 line-spaced, 11-point font.
(Please refer to the article and apply what you have learned in the course to answer the questions.)
1. Start your report by writing one-two paragraphs that summarize the main points of the article.
2. How has trade impacted the wage patterns in developed countries (e.g., U.S.) and emerging economies
(e.g., China and India)?
3. What does Ricardos trade theory (in Chapter 3 of the textbook) say about relative wages between
countries? Can this theory explain the wage patterns revealed in the article? Clearly comment on
Ricardos theory regarding relative wages.
4. What factors have caused restoring recently, which have not been considered in Ricardos trade
5. What will be the comparative advantages of developed countries in the future? Will low-wage
countries (e.g., Vietnam, Indonesia and the Philippines) lose their comparative advantages in the future?
Why and Why not?