JEL code F
International economics
Who gains and loses from trade, and how do exchange rates work?
Emerged 1817
In his Principles, David Ricardo set out comparative advantage: countries gain from trade by specialising in what they produce at relatively lower cost.
SourceEconLib, Concise Encyclopedia of Economics: David Ricardo (opens in a new tab)
An example
The “China shock”: US regions more exposed to Chinese imports saw lasting job and wage losses (Autor, Dorn and Hanson, 2013).