Question

I'll medal or fan or whatever, I just need help understanding really quick.

Now assume that China develops a newer technology that gives them absolute advantage over both Japan and the U.S. in both CD and DVD production.

Answer 1

Can the Chinese still benefit from trade with the other two countries? Why or why not?

If China committed to specializing in one good over another, would that be economically sound? Why or why not?

Answer 2

Is this for History?

Answer 3

Microeconomics