Posted: September 1st, 2015

Liberal concept of comparative advantage

How do the realist concepts of competitive advantage and strategic trade theory differ from the liberal concept of comparative advantage? How do these two thereotical perspectives differ on the value of establishing FTA’s?
Full question – How do the realist concepts of competitive advantage and strategic trade theory differ from the liberal concept of comparative advantage? How do these two thereotical perspectives differ on the value of establishing FTA’s? Which do you think provides better policy guidance and why?

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