“Poor countries like Malawi have no absolute advantages. They have poor soil, low investments in formal...

“Poor countries like Malawi have no absolute advantages. They have poor soil, low investments in formal education and hence low-skill workers, no capital, and no natural resources to speak of. Because they have no advantage, they cannot benefit from trade.”

How would you respond?

Expert Solution

The given statement is false where they can benefit from trade but they need investment and their resources such as low cost labour that can benefit them where they can actually get to ask for investments from other countries so that the production can take place inside the country and necessities can be imported and in this way the country can benefit from this and trade can actually be understood all in all

Rahul Sunny answered 1 year ago

4) You just overheard your friend say the following: “Poor countries like Malawi have no absolute...

4) You just overheard your friend say the following: “Poor countries like Malawi have no absolute advantages. They have poor soil, low investments in formal education and hence low-skill workers, no capital, and no natural resources to speak of. Because they have no advantage, they cannot benefit from trade.” How would you respond?

Why are some countries rich with high per capita income and some countries poor with Low...

Why are some countries rich with high per capita income and some countries poor with Low per capita income?

in countries with low inflation, monetary growth is a poor forecaster of inflation. Given the definitions...

in countries with low inflation, monetary growth is a poor forecaster of inflation. Given the definitions of money, M1 and M2, and considering that M2 is the most widely used definition of money in an economic system, can you explain this lesson

All countries around the world, rich or poor, compete to attract foreign direct investments. Let assume...

All countries around the world, rich or poor, compete to attract foreign direct investments. Let assume that you are an expert in foreign direct investment. A foreign leader hires you to help his/her country to attract FDIs. You did an assessment of the competitiveness of the country and found that three major problems (factors) should be addressed to improve the country's competitiveness to attract FDIs. What are these factors? Explain them. How do you advise the government to address them?

Discuss 3 consequences of poor sanitation (lack of adequate toilet facilities) in low-income countries. Include examples...

Discuss 3 consequences of poor sanitation (lack of adequate toilet facilities) in low-income countries. Include examples in your answer.

As U.S. trade with low-wage countries like Mexico increases, will wages in the United States be...

As U.S. trade with low-wage countries like Mexico increases, will wages in the United States be pushed down? Why or why not? Are low-wage workers in the United States hurt when there is more trade with Mexico? Discuss.

The United States has a low trade level compared to a country like Japan. If countries...

The United States has a low trade level compared to a country like Japan. If countries could not trade, what would happen to the living standards in those countries with low trade levels, like the United States, as well as in countries with high trade levels such as Japan? Cite at least one current example in your discussion.

The world's poor countries have made as much progress in health and education in a generation...

The world's poor countries have made as much progress in health and education in a generation as the rich world did in a century. b. Analyze the policies a developing country could adopt in order to improve its world economic ranking.

The U.S. has been traditionally known as a relatively low saving country, compared to countries like...

The U.S. has been traditionally known as a relatively low saving country, compared to countries like Japan. The U.S. personal saving rate had seldom gone into the double digits since the early 1990s (Source: the Federal Reserve Bank of St. Louis). In response to the coronavirus pandemic, people inevitably try to save more. We observe that the U.S. savings are rising in an unprecedented manner: the U.S. personal savings rate (personal saving as a percentage of disposable personal income) hit...

The U.S. has been traditionally known as a relatively low saving country, compared to countries like...

The U.S. has been traditionally known as a relatively low saving country, compared to countries like Japan. The U.S. personal saving rate had seldom gone into the double digits since the early 1990s (Source: the Federal Reserve Bank of St. Louis). In response to the coronavirus pandemic, people inevitably try to save more. We observe that the U.S. savings are rising in an unprecedented manner: the U.S. personal savings rate (personal saving as a percentage of disposable personal income) hit...

Question

“Poor countries like Malawi have no absolute advantages. They have poor soil, low investments in formal...

Solutions

Expert Solution

Related Solutions

4) You just overheard your friend say the following: “Poor countries like Malawi have no absolute...

Why are some countries rich with high per capita income and some countries poor with Low...

in countries with low inflation, monetary growth is a poor forecaster of inflation. Given the definitions...

All countries around the world, rich or poor, compete to attract foreign direct investments. Let assume...

Discuss 3 consequences of poor sanitation (lack of adequate toilet facilities) in low-income countries. Include examples...

As U.S. trade with low-wage countries like Mexico increases, will wages in the United States be...

The United States has a low trade level compared to a country like Japan. If countries...

The world's poor countries have made as much progress in health and education in a generation...

The U.S. has been traditionally known as a relatively low saving country, compared to countries like...

The U.S. has been traditionally known as a relatively low saving country, compared to countries like...