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September 4, 2015

Homework Help: Economic

Posted by Jason on Wednesday, November 14, 2007 at 11:02pm.

The establishemnt of regional trading blocs may lead to a decline in global trade follwoing these reason. Explain why.
1. Sufficent trade diversion occurs
2. Government increase tariffs to nonmember nations to offset lost tariff revenus from coutntries participating in regional blocs.
3. Countries protect industries in which they do not have a comparative advantage.

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