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玫瑰

无法超越的优雅是年龄的特权

 
 
 

日志

 
 

Comparative Advantage   

2008-04-18 21:12:20|  分类: 默认分类 |  标签: |举报 |字号 订阅

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Rapid technological change has complicated the traditional free-trade versus protection argument in the following way: In a stable, static world the most profitable course for a country is to concentrate on its comparative advantage. But in a world of rapid technological change, comparative advantage keeps changing. As a country switches from industry to industry in pursuit of its comparative advantage, the benefits of specialization may be eaten up by recurring turnaround costs (in the form of installing equipment and retraining labor in new industries).

  After the Second World War, this argument was used to explain why some countries doubted their ability to benefit from growing trade with the technological leader, the United States.

This argument has recently become far less compelling because our trading partners (especially Germany and Japan) have reduced the technological gap and in some activities, have taken the lead. Instead, the argument now appears in somewhat different form as follows: With the development of the international economy, any technological change that occurs in one country can be copied, within a brief period, by producers in another country. An American innovation may give us a comparative advantage in a certain commodity, but it will last only until the production of this commodity is copied in some other country with lower labor costs. At this point, the United States moves on to producing and exporting another commodity in which it has made an even more recent technological breakthrough. Thus the comparative advantage of the United States is in the technologically advanced activities, and these keep changing.

                                                                         ---------Doctor Hu's preparation of the second-round exam

                                                                                                  (IT IS HARDWORKING, REALLY)

Note:The second-round exam includes exam of test of audition of interview, English, special training course and check-up.

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