Comments by Naoyuki Yoshino, on Gains from Trade Liberalization between Heterogeneous Countries: Implications for the Korea-Japan FTA.

The author discusses the Korea-Japan free trade agreement (FTA) model. Topics mentioned include the labor market, marginal productivity, and wage rate of the two countries, the opposition of farmers to FTA, and the effects of the aging population in Japan to its economic condition. Also mentioned are the exchange rate that was determined by exports and imports in trade and the rate of return (ROR) by two countries.