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"Countries Usually Experience Substantial Economic Gains from Joining Trade Blocs

Question 48

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"Countries usually experience substantial economic gains from joining trade blocs." Do you agree or disagree with this statement? Why? In your answer, include discussion of the roles of trade creation and trade diversion. Also include discussion of other gains that can arise in a country that chooses to join a trade bloc?

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In general, the formation of trade blocs...

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