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International Trade and Sustainable Development - Economic, Historical and Moral Arguments for Asymmetric Global Trade (Paperback)
Loot Price: R1,288
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International Trade and Sustainable Development - Economic, Historical and Moral Arguments for Asymmetric Global Trade (Paperback)
Series: Routledge Studies in the Modern World Economy
Expected to ship within 12 - 17 working days
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The contemporary orthodox view of world trade has centred,
generally unchallenged, on the ideas of free trade, based on the
theoretical construct of comparative advantage. This book will
engage in a critique of the orthodox position based on the
underlying theoretical economic construct, the historical
development of the now developed economies and the morally
unsustainable position of the free-trade regime. The author
examines alternatives such as Most Favoured Nation and Preferential
Trading Agreements before making the argument in favour of
Asymmetric Trading, where the underdeveloped economies can develop
behind tariff barriers and quotas, whilst the triadic nations
maintain a lack of barriers to the exports of these economies. He
outlines how such a trading regime would be mutually beneficial in
the long term, in the sense that development through
industrialisation takes place and the increase in GDP per capita
would allow markets for exports to be sustainable, thus widening
the market for the goods and services of the developed economies.
However, the author demonstrates that free trade actually increases
the development gap by maintaining the status quo in terms of the
underdeveloped economies specialising in and exporting low
value-added primary products and importing high value-added
manufactures. The book analyses contemporary and historical data to
illustrate how an alternative trading regime can be truly
advantageous to both the developed and underdeveloped regions of
the world: a global trading regime that is capable of increasing
GDP in a sustainable manner without transferring a surplus from the
poor to the rich nations and without a long-term commitment on the
part of the developed nations to altruism.
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