Following paragraphs extracted from a news story by CNBC China trade deficit has cost the US 3.7 million jobs this century, report says The U.S. has lost 3.7 million jobs since 2001 due to its trade imbalance with China, with most of the damage done to manufacturing, according to a report released Thursday. Among the study's findings: Some 1.7 million jobs have disappeared since the beginning of the financial crisis in 2008 ; of the total losses, 2.8 million, or about three-quarters, have come from manufacturing; and the deficit continues to grow, with employment taking a hit across all 50 states even as nonfarm payrolls have continued to grow. a. Suppose that the trade between U.S. and China could be modelled by the one-factor Ricardian, with two sectors as manufacturing and non-manufacturing. Explain whether the disappeared jobs in manufacturing sector is a problem and hurts the workers. State any key assumptions behind your argument. (5 marks) b. Suppose that the trade is better modelled by the Heckscher-Ohlin model, which manufacturing sector is less-skilled-worker intensive and non-manufacturing is skilledworker intensive. Explain how it would affect your answer in part a. (5 marks)