TPP & Ricardo`s theory

Trans-Pacific free trade (TPP) deal agreed at last. It was a long run negotiation. What a big surprise that it covers 40% of world trading market.  I personally appreciate that we can buy cheap beef, cheese, wine and export high quality rice to the world.

When I was a student, I learned the economic theory of David Ricardo`s "comparative advantage". It was a win-win theory that every countries can enjoy the benefit through trading if they concentrate only their competitive product. He exampled the wine in Portugal and cotton cloth of England. How he foresighted in 200 years ago!

Old people are worried about the protection for domestic company. But I am optimistic as young generation are elastic for change. It will be a good opportunity to go on next stage.