New application of comparative advantage trade theories
Comments on Christopher Findlay and Dean Parham "
Blurred borders: ‘offshoring’ Australian business", 31/07/2012 http://www.eastasiaforum.org/2012/07/31/blurred-borders/
It seems the new model is a development of the comparative advantage trade theories albeit at the production/value chain as compared to the whole production process.
It also implies that new comparative advantages may have a strong focus on fast innovation and rapid response, as compared to the past simple capital/labor type.
It is a more complex model with fine distinction of elements of sources of comparative advantage.
Economists must also be innovative and creative in theorising new practice and economic reality.
Businesses must also be highly adaptive to globalisation trends and regional and global economic integration.