1. Trade and Comparative Advantage

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In April 2014 the Australian government signed new trade agreements with both Japan and Korea.

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1. What were the main changes in the trade agreement between Australia and Japan?
2. What were the main changes in the trade agreement between Australia and Korea?
3. From analysing these trade agreements, in what products and services do you think Australia, Japan and Korea have a comparative advantage?
4. Who were the winners and losers from these trade agreements in Australia, Japan and Korea?
5. Do you think that these trade deals benefit all three countries equally? (This must be answered as part of your presentation – in your individual assignment you should write 250-500 words on this issue)