Because of Japan’s success in competing in international markets, it has been the target of numerous complaints that it restricts foreign access to its local markets. As Japan reduces its barriers to...

Because of Japan’s success in competing in international markets, it has been the target of numerous complaints that it restricts foreign access to its local markets. As Japan reduces its barriers to imported goods, who is likely to gain from lowered barriers? Who is likely to lose from them? In your opinion, what are the main disadvantages of adopting the strategic trade theory? In your answer, list and briefly explain at least three disadvantages.