1) Explain coherently how internal economies of scale give rise to some trade patterns observed in the world today. What are these patterns of trade known as? (A full verbal and graphical explanation is required)

1) Explain coherently how internal economies of scale give rise to some trade patterns observed in the world today. What are these patterns of trade known as? (A full verbal and graphical explanation is required)

2) “Emerging economies, such as China, pose a threat to the comparative advantage of the U.S.” How can such a statement be evaluated using the insights learned from the standard trade model? Provide full verbal and graphical explanation
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