1. Answer these questionsa) Discuss the characteristics of the modern trade theories: Product Life Cycle Theory and Strategic Trade Theory. (Hint: Look at the definition of the concepts and the...

1. Answer these questionsa) Discuss the characteristics of the modern trade theories: Product Life Cycle Theory and Strategic Trade Theory. (Hint: Look at the definition of the concepts and the elements involved)b) Discuss the economic AND political arguments against free trade. Give specific examples.c) Discuss the factors that managers need to consider when assessing the comparative advantages of various locations around the world.