Diversification or specialization: What is the path to growth and development?
In general, international trade theories predict that once countries open up to trade outside their borders they will specialize in goods for which they have comparative advantage. Early theories of trade explained comparative advantage being driven by relative productivity difference (as expla…
Is North Korea’s nuclear tech for sale?
As North Korea’s economic position worsens, the risk that it sells its nuclear weapons technology grows. Pyongyang conducted its fifth nuclear test on 9 September, accompanied by claims it has developed a warhead that can be mounted onto rockets. This test is estimated to have been at a yield o…