Despite an intellectually rigorous theoretical case, it may be reiterated, the world has not overwhelmingly accepted the abstract truth of free trade which still remains as the Pareto efficient notional goal. Nations try to achieve or move towards this goal. The Tokyo round or the Uruguay round of trade negotiations (the most recent negotiations under the auspices of GATT) is essentially a part of this move towards freer or, many would say, fairer trade. There is no doubt that the role of trade policy is a significant factor in shaping the pattern of world production and trade. This chapter discusses the impact of the various trade policy instruments on international trade and welfare.
Weitere Kapitel dieses Buchs durch Wischen aufrufen
- Trade Policy
- Macmillan Education UK
- Chapter 29
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