Following information is obtained from the World Bank (https://data.worldbank.org/) Resource endowment China Brazil 1. 2

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Following Information Is Obtained From The World Bank Https Data Worldbank Org Resource Endowment China Brazil 1 2 1 (124.61 KiB) Viewed 12 times

Following information is obtained from the World Bank (https://data.worldbank.org/) Resource endowment China Brazil 1. 2. Questions China has more (arable) land resources and labors than Brazil. Explain why trade is still possible according to the Heckscher-Ohlin Model? (1 mark) What is the trade pattern predicted by the Heckscher-Ohlin Model? (1 mark) 3. i. ii. Arable land (million hectares) 120 56 Labor force (million) i. ii. 794 99 Go to the website of World Integrated Trade Solution (https://wits.worldbank.org/). Explore the bilateral trade between China and Brazil in 2019. Report whether China is a net exporter or net importer (use Export - Import) in "Food" and "Consumer goods" (assuming arable land can be converted for industrial use). Does this trade pattern consistent with the prediction of Heckscher-Ohlin Model? (1 mark) Some people think that Chinese farm workers are negatively affected by free trade with Brazil. Based on the Heckscher-Ohlin Model, do you agree? (1 mark) What's the major assumption in your previous answer? (1 mark)