The concept of "trade creation" refers to

Name: The concept of "trade creation" refers to
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Trade creation is a concept where trade based on comparative advantage typically increases after the reduction of trade barriers. This leads to a situation where both importing and exporting countries benefit from the creation of new trade. Trade creation occurs because the production of goods and services shifts to countries that have a comparative advantage and are able to produce the goods at a lower cost.

The Concept of "Trade Creation" Refers to