## Absolute Advantage [b8b6a72c8397] The ability to produce the **same quantity** of a good or service using **fewer resources** per unit of time. The theory of **absolute advantage **by Adam Smith indicates a country is **more efficient** in production if it uses fewer resources to produce a good. * In other words, the country uses the **same resources **as another and yet, produces **more** goods. [{"_key":"6dd39ad67676","_type":"block","asset":null,"children":[{"_key":"47bc4ddefbaf","_type":"span","marks":[],"text":"Assume there are two countries, $A$ and $B$, who produce either "},{"_key":"b8316e24a5c9","_type":"span","marks":["strong"],"text":"only"},{"_key":"626ce616b4d9","_type":"span","marks":[],"text":" beef or "},{"_key":"b9c500bc1bf6","_type":"span","marks":["strong"],"text":"only"},{"_key":"3b20d638ee70","_type":"span","marks":[],"text":" leather."}],"markDefs":[],"style":"normal"},{"_key":"6990220b9273","_type":"block","asset":null,"children":[{"_key":"6417cec787f6","_type":"span","marks":[],"text":"The table below shows how much each country produces per "},{"_key":"f395d6729bdc","_type":"span","marks":["strong"],"text":"one worker in one day "},{"_key":"bff9fa623f1b","_type":"span","marks":[],"text":"if the worker produced either "},{"_key":"ab9562f6d9bb","_type":"span","marks":["strong"],"text":"only beef"},{"_key":"e4a938c366e1","_type":"span","marks":[],"text":" or "},{"_key":"757ff2f8081e","_type":"span","marks":["strong"],"text":"only leather"},{"_key":"be89f0f01844","_type":"span","marks":[],"text":"."}],"markDefs":[],"style":"normal"},{"_key":"58f2d0ce12fa","_type":"block","asset":null,"children":[{"_key":"2964ff246c59","_type":"span","marks":[],"text":"Therefore if a worker in country A produces "},{"_key":"a0fea7dd33b8","_type":"span","marks":["strong"],"text":"8 kilos of beef "},{"_key":"17f2e4b70c1e","_type":"span","marks":[],"text":"then they produce "},{"_key":"60a1b849bd81","_type":"span","marks":["strong"],"text":"0 metres of leather"}],"level":1,"listItem":"bullet","markDefs":[],"style":"normal"},{"_key":"8674db6ca2dc","_type":"block","asset":null,"children":[{"_key":"4075f62da566","_type":"span","marks":[],"text":"Or they do "},{"_key":"e8fd5455cc0b","_type":"span","marks":["strong"],"text":"2 meters of leather"},{"_key":"ba99dff19ebd","_type":"span","marks":[],"text":" so "},{"_key":"8576e6046e81","_type":"span","marks":["strong"],"text":"0 kilos of beef"},{"_key":"35b78fdc760b","_type":"span","marks":[],"text":"."}],"level":1,"listItem":"bullet","markDefs":[],"style":"normal"},{"_key":"7db14d774eda","_type":"table","asset":null,"rows":[{"_key":"5e6ad3c3-0de0-41fe-936b-ff3b3a87f6f1","_type":"tableRow","cells":["Country","Kilos of beef","Metres of leather"]},{"_key":"99116b4c-78e4-4ed8-9941-44f72f24b2ab","_type":"tableRow","cells":["A","8","2"]},{"_key":"898417a0-bf35-432f-be2b-3d7e2e73990f","_type":"tableRow","cells":["B","5","4"]}]},{"_key":"45bc36ce413a","_type":"block","asset":null,"children":[{"_key":"531efcaae90a","_type":"span","marks":[],"text":"Country $A$ has an "},{"_key":"627151ce1806","_type":"span","marks":["strong"],"text":"absolute advantage"},{"_key":"0b725b490671","_type":"span","marks":[],"text":" in producing beef because with the same number of resources (one worker), it "},{"_key":"0e1537f8c98a","_type":"span","marks":["strong"],"text":"produces"},{"_key":"5b3a76a467a9","_type":"span","marks":[],"text":" "},{"_key":"2d74bb3d8de2","_type":"span","marks":["strong"],"text":"more"},{"_key":"3266ab380585","_type":"span","marks":[],"text":" beef."}],"markDefs":[],"style":"normal"},{"_key":"6b3cc85bba7e","_type":"block","asset":null,"children":[{"_key":"5342c6d19576","_type":"span","marks":[],"text":"However, country $B$ has an "},{"_key":"436b49d75e24","_type":"span","marks":["strong"],"text":"absolute advantage"},{"_key":"2a254a0156bd","_type":"span","marks":[],"text":" in producing leather because with the same number of resources, it "},{"_key":"2a92da6828d3","_type":"span","marks":["strong"],"text":"produces"},{"_key":"ec47667b001a","_type":"span","marks":[],"text":" "},{"_key":"3200ac606b59","_type":"span","marks":["strong"],"text":"more"},{"_key":"7277f6597244","_type":"span","marks":[],"text":" leather."}],"markDefs":[],"style":"normal"}] The example above showcases the scenario where _**reciprocal absolute advantage** _exists. * However, this is not **always** the **case** as sometimes, a country could have **absolute advantage in producing all the goods**. We can use the information in the example above to construct the **PPCs** of each country. * For **simplicity,** we use a straight-line PPC implying constant opportunity costs. ![](https://cdn.sanity.io/images/w7j7fz60/production/8bfc16296d0bdd70c5c31764a91c697cc42a2081-970x804.png) The figure above shows the **PPCs** for each country which we can construct by noticing the quantity produced **per worker** _(assuming there is only one worker in each country)._ 1. Hence for country $A$, if it producers **8 units of beef** then it produces **0 units of leather** showcasing its intercept on the vertical axis at $(0,8)$ 2. If it produces **2 units of leather**,** **then it producers **0 units of beef **indicating its intercept on the horizontal axis at $(2,0)$ 3. By drawing a **straight line** across the two points, we create the **PPC** for country $A$ **assuming** **constant** opportunity costs. We can **repeat** the **process** to get the **PPC** of country $B$. As **observed** in the diagram: 1. The PPC of country $A$ extends (intercepts) **further up** the vertical axis than the PPC of country $B$ indicating the **absolute advantage** of $A$ in beef production. 2. Similarly, the PPC of country $B$ **extends** (intercepts) **further right** the horizontal axis than the PPC of country $A$ indicating the **absolute advantage** of $B$ in leather production. [{"_key":"863edb0bec48","_type":"block","asset":null,"children":[{"_key":"c4c65d2f9471","_type":"span","marks":[],"text":"There can be cases where a countries PPC sits entirely above on both axis indicating absolute advantage in both goods."}],"markDefs":[],"style":"normal"}] Hence, if a country specialises in the good they have **absolute advantage in**, then: 1. Country $A$ can produce **only beef** while country $B$ produces **only leather**. 2. Therefore, country $A$ can **export** its beef to country $B$ which **exports** its leather to country $A$. Hence absolute advantage encourages production of goods to those who are **more efficient, **which leads to **more production** for the same resources worldwide (**efficient production throughout the world**). Further: 1. Even though countries produce **within their PPC**, due to the trade caused by absolute advantage, it is **possible to consume** outside of the PPC. 2. This is because by importing goods from a **more efficient** country, you can consume **more than** you could have alone _(seen in the figure)._ This is the **reallocation of resources** such that production takes place in countries with **lower costs**. ## Comparative Advantage [4f98177a576f] A country having **lower opportunity costs** in the production of a good compared to another country. The concept of absolute advantage only explains a **small section** of gains from trade and specialising in production. **Economist David Ricardo** with his theory of **comparative advantage** showed that countries can **benefit from trade** even **if **one has absolute advantage in **all goods** as long as they have** different opportunity costs**. [{"_key":"a3f85dbe732e","_type":"block","asset":null,"children":[{"_key":"501440cef62a","_type":"span","marks":[],"text":"Assume again there are two countries, $A$ and $B$, who produce either "},{"_key":"9431e41caf08","_type":"span","marks":["strong"],"text":"only"},{"_key":"6aca80559a74","_type":"span","marks":[],"text":" beef or "},{"_key":"f1fc269c38b1","_type":"span","marks":["strong"],"text":"only"},{"_key":"c9c14f2151ca","_type":"span","marks":[],"text":" leather."}],"markDefs":[],"style":"normal"},{"_key":"31b01fe3ce53","_type":"block","asset":null,"children":[{"_key":"29bce382d0ac","_type":"span","marks":[],"text":"The table below shows how much each country produces per "},{"_key":"9140b068d2b6","_type":"span","marks":["strong"],"text":"one worker in one day "},{"_key":"54997c7a219a","_type":"span","marks":[],"text":"if the worker produced either "},{"_key":"1ec6939138fb","_type":"span","marks":["strong"],"text":"only beef"},{"_key":"b9485b44e21b","_type":"span","marks":[],"text":" or "},{"_key":"a328fa38e6e5","_type":"span","marks":["strong"],"text":"only leather"},{"_key":"3c8b8732f017","_type":"span","marks":[],"text":"."}],"markDefs":[],"style":"normal"},{"_key":"0212f9768abc","_type":"block","asset":null,"children":[{"_key":"6a0cb485797e","_type":"span","marks":[],"text":"Therefore if a worker in country A produces "},{"_key":"a500329ccd26","_type":"span","marks":["strong"],"text":"20 kilos of beef "},{"_key":"11b210f55c23","_type":"span","marks":[],"text":"then they produce "},{"_key":"87e39e1f5b76","_type":"span","marks":["strong"],"text":"0 metres of leather"}],"level":1,"listItem":"bullet","markDefs":[],"style":"normal"},{"_key":"995d033b9248","_type":"block","asset":null,"children":[{"_key":"3a9c4d031127","_type":"span","marks":[],"text":"Or they do "},{"_key":"3b4e166bee33","_type":"span","marks":["strong"],"text":"10 meters of leather"},{"_key":"5886d2fd7b88","_type":"span","marks":[],"text":" and so "},{"_key":"3f3fa3f966d5","_type":"span","marks":["strong"],"text":"0 kilos of beef"},{"_key":"28e24d0500d8","_type":"span","marks":[],"text":"."}],"level":1,"listItem":"bullet","markDefs":[],"style":"normal"},{"_key":"516494190475","_type":"table","asset":null,"rows":[{"_key":"5e6ad3c3-0de0-41fe-936b-ff3b3a87f6f1","_type":"tableRow","cells":["Country","Kilos of beef","Metres of leather"]},{"_key":"99116b4c-78e4-4ed8-9941-44f72f24b2ab","_type":"tableRow","cells":["A","20","10"]},{"_key":"898417a0-bf35-432f-be2b-3d7e2e73990f","_type":"tableRow","cells":["B","10","2"]}]},{"_key":"77786851017d","_type":"block","asset":null,"children":[{"_key":"8f41bd5941fc","_type":"span","marks":[],"text":"Hence, it can be seen country $A$ has an "},{"_key":"d3438dfee90c","_type":"span","marks":["strong"],"text":"absolute advantage"},{"_key":"fab1c4a56bc8","_type":"span","marks":[],"text":" in both goods since it can produce "},{"_key":"5f1eba9449e9","_type":"span","marks":["strong"],"text":"more beef and more leather"},{"_key":"3304383494be","_type":"span","marks":[],"text":" using the same resources in the same time."}],"markDefs":[],"style":"normal"}] Using the example above, we can draw the **PPCs** for country $A$ and $B$. ![](https://cdn.sanity.io/images/w7j7fz60/production/5cb7a561caa377f9dfd524052a5aeceb0ce10734-949x809.png) This time, country $A$ has **absolute advantage in both goods** because its PPC **lies entirely above **country $B$. [{"_key":"1ececfbbc8e2","_type":"block","asset":null,"children":[{"_key":"08b58efff953","_type":"span","marks":[],"text":"Intersection on the graph indicates "},{"_key":"440b07ad687e","_type":"span","marks":["strong"],"text":"absolute advantage to each"},{"_key":"2ccfa25f71ab","_type":"span","marks":[],"text":" country, but no intersection implies one country has "},{"_key":"c5e099639fab","_type":"span","marks":["strong"],"text":"absolute advantage in both."}],"markDefs":[],"style":"normal"}] Hence, it is important to determine if there is a **comparative advantage** by comparing **opportunity costs**, to understand which **good** each country should **specialise** in. The value of the next best option that must be forgone or sacrificed in order to acquire something else. As it's the cost of the alternative, in other words, it can be thought of as: 1. _How much of good 'D' do I sacrifice per unit of good 'E" that I am producing now?_ Since we have a **straight-line PPC** _(assuming opportunity costs are constant)_, we can simply use the final values to calculate the opportunity costs by: $$ \text{Opportunity Costs} = \frac{\text{Good Sacrificed}}{\text{Good Produced}} $$ [{"_key":"069944a7b15a","_type":"block","asset":null,"children":[{"_key":"de2bc6aad81d","_type":"span","marks":[],"text":"For the example above, if country $A$ "},{"_key":"d2e64da22ff3","_type":"span","marks":["strong"],"text":"would like to produce"},{"_key":"5b329cd8a29a","_type":"span","marks":[],"text":" $20$ kilos of beef, it needs to "},{"_key":"b5e2d1bdc4d3","_type":"span","marks":["strong"],"text":"sacrifice"},{"_key":"cce36b3371fa","_type":"span","marks":[],"text":" $10$ meters of leather, meaning the "},{"_key":"c18a7f7d3207","_type":"span","marks":["strong"],"text":"opportunity cost"},{"_key":"7cb214813594","_type":"span","marks":[],"text":" is:"}],"markDefs":[],"style":"normal"},{"_key":"06db6701ae40","_type":"block","asset":null,"children":[{"_key":"1bcc7d2832c0","_type":"span","marks":[],"text":"$$ OC = \\frac{10}{20} = \\frac{1}{2}$$"}],"markDefs":[],"style":"normal"},{"_key":"16e885ddb36d","_type":"block","asset":null,"children":[{"_key":"eb25b38f24c4","_type":"span","marks":[],"text":"Hence, to produce "},{"_key":"dc499f811819","_type":"span","marks":["strong"],"text":"one additional kilo"},{"_key":"83d6e8ec77d5","_type":"span","marks":[],"text":" of beef, it sacrifices a "},{"_key":"30af1a74f174","_type":"span","marks":["strong"],"text":"half meter"},{"_key":"abf026e2adc3","_type":"span","marks":[],"text":" of leather."}],"markDefs":[],"style":"normal"},{"_key":"467f175b0b25","_type":"block","asset":null,"children":[{"_key":"fa79a1080c65","_type":"span","marks":[],"text":"Similarly, if they "},{"_key":"82c89c32d17c","_type":"span","marks":["strong"],"text":"produced"},{"_key":"f49edcfafa4c","_type":"span","marks":[],"text":" $10$ meters of "},{"_key":"f5518bf15bd2","_type":"span","marks":["strong"],"text":"leather"},{"_key":"46c4c7390a56","_type":"span","marks":[],"text":" instead of $20$ kilos of "},{"_key":"0045ea1dfa01","_type":"span","marks":["strong"],"text":"beef"},{"_key":"0b41783a93bf","_type":"span","marks":[],"text":", then:"}],"markDefs":[],"style":"normal"},{"_key":"ed56324df8b7","_type":"block","asset":null,"children":[{"_key":"d9e3f6ca0590","_type":"span","marks":[],"text":"$$ OC = \\frac{20}{10} = 2 $$"}],"markDefs":[],"style":"normal"},{"_key":"972bbac8f7e5","_type":"block","asset":null,"children":[{"_key":"67f97bf64e3b","_type":"span","marks":[],"text":"Hence, to produce "},{"_key":"78b38687ebf7","_type":"span","marks":["strong"],"text":"one additional meter "},{"_key":"9d7b20a5dd2b","_type":"span","marks":[],"text":"of leather, they need to sacrifice "},{"_key":"cfe85e27259a","_type":"span","marks":["strong"],"text":"2 kilos of beef"},{"_key":"ae2f89dc153e","_type":"span","marks":[],"text":"."}],"markDefs":[],"style":"normal"}] [{"_key":"5447bf897763","_type":"block","asset":null,"children":[{"_key":"458131154866","_type":"span","marks":[],"text":"The example above works only because the "},{"_key":"34c9b725aec6","_type":"span","marks":["strong"],"text":"opportunity cost is constant"},{"_key":"dee29bce9c13","_type":"span","marks":[],"text":". Therefore, we can compare the total values like we did above. "}],"markDefs":[],"style":"normal"},{"_key":"f00a0ab2cafb","_type":"block","asset":null,"children":[{"_key":"714ac332618b","_type":"span","marks":[],"text":"Otherwise we would "},{"_key":"cc7e4718ace9","_type":"span","marks":["strong"],"text":"need to use the rate of change"},{"_key":"6ac6bbe40e2e","_type":"span","marks":[],"text":" to calculate "},{"_key":"b5ee355c108e","_type":"span","marks":["strong"],"text":"incremental values"},{"_key":"a793f52cb7fe","_type":"span","marks":[],"text":" which is not part of this "},{"_key":"36c67530b798","_type":"span","marks":["strong"],"text":"course"},{"_key":"528d451f5d37","_type":"span","marks":[],"text":"."}],"markDefs":[],"style":"normal"}] Hence, using the method in the example above, we can add **extra columns** to the table indicating the **opportunity costs** calculated in a similar way. [{"_key":"790346ab7379","_type":"block","asset":null,"children":[{"_key":"34fbcbf5b79b","_type":"span","marks":[],"text":"Using the "},{"_key":"4b73a4fc603c","_type":"span","marks":["strong"],"text":"formula"},{"_key":"6ee6fb4acaeb","_type":"span","marks":[],"text":" and "},{"_key":"d39b95e17725","_type":"span","marks":["strong"],"text":"example"},{"_key":"d397e77a0993","_type":"span","marks":[],"text":" above, we get:"}],"markDefs":[],"style":"normal"},{"_key":"eb3d2929d8c3","_type":"table","asset":null,"rows":[{"_key":"5e6ad3c3-0de0-41fe-936b-ff3b3a87f6f1","_type":"tableRow","cells":["Country","Kilos of beef","Metres of leather","Opportunity Cost of making Beef","Opportunity Cost of making Leather"]},{"_key":"99116b4c-78e4-4ed8-9941-44f72f24b2ab","_type":"tableRow","cells":["A","20","10","1/2","2"]},{"_key":"898417a0-bf35-432f-be2b-3d7e2e73990f","_type":"tableRow","cells":["B","10","2","1/5","5"]}]}] 1. Therefore, country $A$ has _lower opportunity costs_ to produce leather compared to country $B$ indicating it has a **comparative advantage**. 2. However, country $A$ has _higher opportunity costs_ to produce beef compared to $B$ indicating it has **comparative disadvantage**. 3. Even though $A$ has **lower absolute costs** for producing beef, it has **higher comparative costs**. Therefore, country $A$ has **comparative advantage** in producing leather while country $B$ has **comparative advantage** in producing beef. This can also be observed on the graph, as: 1. The country with the **steeper PPC** will have comparative advantage on the good listed on the **vertical axis (y-axis)**. 2. Hence, in this case, $B$ has comparative advantage in beef. 3. The country with the **flatter PPC **will have comparative advantage on the good listed on the **horizontal axis (x-axis)**. 4. Hence, $A$ has comparative advantage in leather. The **theory of comparative advantage** states that: 1. If countries specialise and trade by their according their comparative advantage, then **resource allocation, production** and** consumption** can **increase **worldwide. 2. Even with any case of absolute advantage, **different opportunity costs** determine countries as **more efficient**. 3. Further, while countries produce **within** their PPC, they can **consume outside **the PPC as shown in the figure. [{"_key":"26d9ad984b36","_type":"image","alt":"Figure 3. Parallel PPC 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you have parallel PPC curves as shown above, this means countries face "},{"_key":"1cc3a5c703df","_type":"span","marks":["strong"],"text":"equal opportunity costs "},{"_key":"9a6081f65258","_type":"span","marks":[],"text":"and one has "},{"_key":"28ec4dd26afa","_type":"span","marks":["strong"],"text":"absolute advantage in both"},{"_key":"c0d54df63cd7","_type":"span","marks":[],"text":"."}],"markDefs":[],"style":"normal"},{"_key":"022981ddb266","_type":"block","asset":null,"children":[{"_key":"13e6f0929f98","_type":"span","marks":[],"text":"This is "},{"_key":"73d752346d7b","_type":"span","marks":["em"],"text":"very unrealistic"},{"_key":"e3f6722d150b","_type":"span","marks":[],"text":" in real life, but according to the "},{"_key":"1c5283142682","_type":"span","marks":["strong"],"text":"model"},{"_key":"6329c16b9de7","_type":"span","marks":[],"text":", it implies there is "},{"_key":"4d534da5f5de","_type":"span","marks":["strong"],"text":"no reason for trade"},{"_key":"d6b876f22c6f","_type":"span","marks":[],"text":" in a "},{"_key":"b2b5483b043f","_type":"span","marks":["strong"],"text":"world of constant opportunity cost"},{"_key":"aeafb64f7460","_type":"span","marks":[],"text":"."}],"markDefs":[],"style":"normal"},{"_key":"9a04e4a11818","_type":"block","asset":null,"children":[{"_key":"06f0e49136a4","_type":"span","marks":[],"text":"However, in real life "},{"_key":"34f38944d45e","_type":"span","marks":["strong"],"text":"opportunity cost varies"},{"_key":"22e34a77eafc","_type":"span","marks":[],"text":" and other reasons "},{"_key":"541613246539","_type":"span","marks":["strong"],"text":"arise to trade "},{"_key":"e2077e4a35e6","_type":"span","marks":[],"text":"(not part of the course)."}],"markDefs":[],"style":"normal"}] * Absolute advantage is a **weaker argument** than comparative advantage as it does not consider the **possible gains** from **opportunity costs**. * It is also a **special case** of comparative advantage _(notice in the first example on this page, the conclusions of absolute advantage don't effect those of comparative advantage)_. Hence, now we understand how the **free trade diagram** incorporates who imports and exports. ![](https://cdn.sanity.io/images/w7j7fz60/production/ff7afdb40c7a38a4ad546f8d13a6c5bc164e77d5-1040x425.png) 1. In the first diagram, the domestic country has a higher price $P_d$ than the world price $P_w$ due to it being **inefficient in production**. 2. This indicates the domestic country has comparative disadvantage and thus will accept **lower** world prices and import the goods. 3. The second diagram indicates the **domestic country** having a lower price $P_d$ than world price $P_w$ due to its **more efficient production**. 4. Thus it will accept the higher price, producing **more** and **exporting** its goods to **inefficient** foreign countries. ### Sources of comparative advantage [a3284f12cdf2] Countries gain comparative advantages due to **differences in resources, technology, and labor productivity**. 1. This enables countries to produce certain goods at **lower opportunity costs** than others. 2. Sometimes, **factor endowments** _(the factors of production available to a country) _make the production of certain goods easier for some countries. [{"_key":"6d1ed516a3fe","_type":"block","asset":null,"children":[{"_key":"47effb61ad98","_type":"span","marks":[],"text":"A country with more mountains "},{"_key":"76bb766e9e63","_type":"span","marks":["strong"],"text":"may not be suitable"},{"_key":"045e6ea43996","_type":"span","marks":[],"text":" for the production of "},{"_key":"40f45d9fbf0f","_type":"span","marks":["strong"],"text":"crops"},{"_key":"f05c5a3e13a8","_type":"span","marks":[],"text":", but might be "},{"_key":"e22a61355488","_type":"span","marks":["strong"],"text":"more suitable"},{"_key":"3ab72582d3a2","_type":"span","marks":[],"text":" for creating "},{"_key":"ab2ff9f89b3a","_type":"span","marks":["strong"],"text":"more tourism services"},{"_key":"2ec847463525","_type":"span","marks":[],"text":" (such as to do hiking or skiing)."}],"markDefs":[],"style":"normal"}] [{"_key":"fd977c8edd03","_type":"block","asset":null,"children":[{"_key":"7acfaf19ac42","_type":"span","marks":[],"text":"Explain how absolute advantage works using a valid example and a diagram."}],"level":1,"listItem":"number","markDefs":[],"style":"normal"},{"_key":"76a736a6656d","_type":"block","asset":null,"children":[{"_key":"d40a03d4631e","_type":"span","marks":[],"text":"Explain how comparative advantage works using a valid example and diagram."}],"level":1,"listItem":"number","markDefs":[],"style":"normal"},{"_key":"b1c3597fbadf","_type":"block","asset":null,"children":[{"_key":"db20d0aa1c11","_type":"span","marks":[],"text":"Discuss the difference in outcomes between the two concepts."}],"level":1,"listItem":"number","markDefs":[],"style":"normal"}] [{"_key":"a648522d1528","_type":"block","asset":null,"children":[{"_key":"b4e9f7771887","_type":"span","marks":[],"text":"Does the acknowledgement of inefficiencies in production "},{"_key":"92cb4810f096","_type":"span","marks":["strong"],"text":"harm our reputation "},{"_key":"31697b6680f2","_type":"span","marks":[],"text":"and "},{"_key":"c9c2390fc43e","_type":"span","marks":["strong"],"text":"increase our reliance"},{"_key":"0a56831d46ff","_type":"span","marks":[],"text":" on other countries? Is this a good argument against trade?"}],"markDefs":[],"style":"normal"}]