International trade is a way for nations to specialize to improve the productivity of human resources and realize a larger total output for nations. "Work and Study Cycle Theory" (1978)citing such visionary rationale in the conclusion of a dissertation for Sino-American economics in the 21st century. Cf. www.loc.gov Library of Congress online catalog for reference.
Nations do trade for the reasons below:
A. The distribution of economic resources-natural,human, and capital goods - among nations is uneven: i.e.varied endowments of economic and human resources.
B. Efficient production of goods and services require different elements from nations.
Such characteristics and interaction can be detected from a variety of sources.
Francis Shieh aka Xie Shihao, making succinct analysis and commentary for readers of
Sino-American economics in a nutshell.
February 10, 2010 with blizzard in Metro Washington for such blogging at 2.30 p.m.
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