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Think about a world in which there were no international trade.
Ok, we currently buy almost all of our electronic components from various other countries (e.g., Vietnam, Taiwan, Korea, China, etc.,). So initially, we'd have less of it. That said, why wouldn't some current workers switch vocations? If I'm a low paid hamburger cook, why wouldn't I go into the capacitor manufacturing business?
Read the original article by Michael Porter in the Harvard Business Review
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