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1.International trade needs to be both understood and regulated. In lightof this statement:a) Describe and assess strategic trade theory and Porters diamond of nationalcompetitive advantage.b) Outline and assess whether the Dunning OLI framework explains satisfactorily theoccurrence of foreign direct investment. c) Assess the role and contribution of the International Monetary Fund in progressingworld trade. 2.Information Technology outsourcing has become a global trend, butpresents a range of risks as well as opportunities for an internationalbusiness. In the light of this statement, and using illustrative examplesthroughout:a) Define the terms information technology and outsourcing.b) Explain why an international business would want to outsource its IT, including thereasons why offshore IT outsourcing may be attractive
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