International Trade

This chapter begins by briefly discussing the pattern of international trade. It then moves on to discuss the work of the GATT and its successor, the World Trading Organization, so laying the basis for a discussion of the reasons why countries trade and a critique of the free trade argument, including an examination of the case for protection. This leads to an analysis of various types of protection such as tariffs and non-tariff barriers. The chapter concludes with a section explaining the patterns of trade and a discussion of regional trade blocs.