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The Political Economy of International Trade Opening Case United States Cotton Subsidies and World Trade Introduction Instruments of Trade Policy TariffsCountry Focus Subsidized Wheat Production in Japan Local Content RequirementsThe Case for Government Intervention Political Arguments for InterventionManagement Focus U.S. Magnesium Seeks Protection Country Focus Trade in Hormone-Treated Beef Economic Arguments for InterventionThe Revised Case for Free Trade Retaliation and Trade WarDevelopment of the World Trading System From Smith to the Great DepressionCountry Focus Estimating the Gains from Trade for America Implications for Managers Chapter Summary Critical Thinking and Discussion Questions Research Task Closing Case Trade in Textiles—Holding the Chinese Juggernautin Check |