Assignment Help: How does Strategic Trade Theory differ from the Infant Industry theory?

1. Contrast the State-Centered approach to the Society-Centered approach. What are the 2 central assumptions of the State Centered approach that contrast sharply with the Society Centered approach?

2. Define industrial policy. What is meant by a “strong state?” Is a strong or weak state more likely to implement industrial policy? Why? 

3. Explain the Infant Industry justification for the industrial policy of raising tariffs to protect a new industry.

4. How does Strategic Trade Theory differ from the Infant Industry theory? Explain the impact of subsidies using the example detailed in Figure 5.1 pages 100-103.

5. Why is industrial policy used most in the high-tech industry? Previously, we had said comparative advantage determines what country should produce a good. What does Strategic Trade theory suggest?

6. What part/statement/example/concept/story in the chapter did you like the most? Why?

7. What question do you think needs to be asked about this chapter that has not been?

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