*** Note, the two questions are to be answered separately and not in paper form.
1. Controversies in Trade Policies
Suppose the U.S. government was able to determine which industries would grow the most rapidly over the next 20 years.
a. Explain why this doesn’t necessarily mean there should be a policy to support the growth of these industries.
b. Analyze the disadvantages of engaging in strategic trade policy, even in cases where it can be slow to yield an increase in a country’s welfare .
****Use resource
Krugman, P. R., Obstfeld, M., & Melitz, M. J. (2015). International economics: Theory and policy (10th ed.) chapter 12
2. Infant Industry Argument
a. Identify which countries have benefited the most from international trade over the last few decades.
b. What policies do these countries have in common?
c. Do their experiences lend support to the infant industry argument or argue against it?
***To support your answer, use academic sources to help research various countries.
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