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Past experiences illustrate that the system of free trade has not been equally favorable to all countries. In 1992, the United Nations reported that the post-1980s international economy has been redistributing wealth from the poor to the well off within and between countries. Another UN report in 1994 proclaimed, âWhere world trade is completely free and open-as in financial markets-it generally works to the benefit of the strongest...
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Past experiences illustrate that the system of free trade has not been equally favorable to all countries. In 1992, the United Nations reported that the post-1980s international economy has been redistributing wealth from the poor to the well off within and between countries. Another UN report in 1994 proclaimed, âWhere world trade is completely free and open-as in financial markets-it generally works to the benefit of the strongest...
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General points of the essay
Discuss the advantages and disadvantages, to the participating countries and the rest of the world, of forming a free trade arrangement. China, Japan and Korea are now undertaking preliminary research into the formation of a free trade area. Withi...
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