Essay Problem: Critical Thinking: Factor Endowment Theory- Economy
In a critical essay, you will select a country of your choice and will compare your chosen country to Saudi Arabia in relation to the factor endowment theory. For each country, discuss:
• What is the impact of resource endowments on comparative advantage?
• Is the factor-endowment theory a good predictor of trade patterns?
• What additional trade theories can be applied? Explain their main insights and challenges. As one of the trade initiatives in Saudi Arabia, assess the aims of Saudi Vision 2030 in relation to factor endowment theory.
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.