SOLUTION: UCONN Institutionalism and Competitive Advantage in World Trade Discussion

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SOLUTION: UCONN Institutionalism and Competitive Advantage in World Trade Discussion 1

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Qn. 1
In world trade, a nation has a competitive advantage over its rivals when other competitors
do not utilize the value-creating strategy it is implementing in the same world market or potential
ones (Kwak and Johnson, 2018). Competitive advantage comes as a result of one country having
advantages over others. For instance, one country could have a technological advantage that
enables it to produce goods at a lower price and faster than others. It can have superior
organizational practices and even brands more recognized in the world than others. Competitive
advantage brings inequality because some countries can’t measure up to others in the production
of goods. Countries in the world trade platform that can’t afford new technologies like robotics,
highly skilled personnel, and access to natural resources like their competitors will always be
unequal to the more prominent players in the market (Kwak and Johns…

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