Instruction: In this assignment you are asked to read two case studies and discuss them by answering the stated questions. Please strictly adhere to the following guidelines when answering each question: (1) Your answer to each question should not exceed 40 words. This means your answer should be concise (brief but complete). (2) Your answers should be based only on the information provided in the case study. (3) Use your own words- do not include quotes. (4)Your answers should be clear and easy to understand. (5) Completed Assignments should be submitted via Blackboard

Each question carries 10 points. No late assignments will be accepted

1. After reading and reviewing the closing case titled: The Rise of India's Drug Industry (pp.187-188), answer the following questions.
(a) Write a brief summary of the case study.

(b) How might (a) U.S. pharmaceutical companies and (b) U.S. consumers benefit from the rise of the Indian pharmaceutical industry?

(c) Who might have lost out as a result of the recent rise of the Indian pharmaceutical industry?

(d) Do the benefits from trade with the Indian pharmaceutical sector outweigh the losses?

(e) What international trade theory (or theories) best explains the rise of India as a major exporter of pharmaceuticals?

2. After reading and reviewing the closing case titled: U.S. Tariffs on Tire Imports from China (pp 219-220) answer the following questions.

(a) Write a brief summary of the case study

(b) Which groups benefited from the imposition of U.S. tariffs on Chinese tire imports? Which groups suffered? What does this tell you about tariffs in general?

(c) How do you think that the United States would have reacted if the Chinese had raised tariff rates on the importation of certain goods from the United States?

(d) What does the rise of tire imports from Thailand, Indonesia, and Mexico during 2010 and 2011 tell you about the value of this kind of trade policy?

(e) Do you think that the policy was in the best interests of the United States? Justify your answer