1. Trade between a large economy and a small economy inevitably results in the large economy capturing the majority of any gains from trade due to disparity in economic power between the two countries. After research at stating valid facts, decide if you agree/disagree? Why or why not?
2. Explain “trade creation” and trade diversion. How is this relevant to Mexico or Canada in evaluating the North American Free Trade Agreement (NAFTA)?
3. Compare and contrast India and China have become recognized as growing Asian emerging powers and, subsequently, advanced to great powers of international trade in products and services.