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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?
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