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Trade and Technology: The Ricardian Model - Faculty

Trade and Technology: The Ricardian Model - Faculty

Trade:

Trade: Application II (cont.) International Commercial Policy The Ricardian Model In comparison, sales per employee in China were only $13,500 in apparel and $9,000 in textiles in 1999. Thus, the U.S. was 7 times more productive in apparel and 16 times more productive in textiles. Hence, the U.S. had an absolute advantage in these products. Why did the U.S. then import so much of its textiles and apparel from Asia, including China? 42


Trade: Application II (cont.) The answer can be seen by also comparing the productivities in the wheat industry. International Commercial Policy The Ricardian Model In 1999, the U.S. produced 27.5 bushels of wheat per hour of labor. China produced only 0.1 bushels of wheat per hour of labor. The U.S. was thus 275 times as productive in wheat! Hence, the U.S. also had an absolute advantage in wheat. However, the absolute advantage in wheat was bigger than the absolute advantage in apparel/textiles so that China had a comparative advantage in apparel/textiles. 43


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