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International Trade, Competitive Advantage and Developing Economies - Changing Trade Patterns since the Emergence of the WTO (Hardcover)
Loot Price: R4,302
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International Trade, Competitive Advantage and Developing Economies - Changing Trade Patterns since the Emergence of the WTO (Hardcover)
Series: Routledge Studies in the Modern World Economy
Expected to ship within 12 - 17 working days
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Available research suggests that less developed countries have
significant competitive advantage over developed countries in three
major areas of international trade: agriculture, textiles and
clothing (T&C), and cross-border labor mobility. Incidentally,
these are also the trade sectors which experienced widespread
protectionist measures, especially in developed world, for decade
after decade. Under the World Trade Organization (WTO), which
replaced the General Agreement on Tariff and Trade (GATT) in 1995,
much of the restrictions in T&C trade has been phased out, but
still this sector faces much higher tariff and non-tariff barriers
than any other manufacturing sector in world economy. The
agricultural sector also experienced significant dismantling of
deeply entrenched trade barriers under the WTO over the course of
last two decades, but the sector still remains plagued with quite
extensive domestic supports, export subsidies, and tariff barriers.
At the same time, despite both theoretical expositions and
empirical trends point to significant potential gains from
cross-border labor mobility, the sector remains mired in a complex
quagmire of economic and political restrictions around the world.
Thus, all three sectors in which less developed countries have
exports interests still remain less liberalized than the sectors in
which developed countries have exports interests. This book
provides an in-depth and up-to-date scholarly analysis of all three
trade sectors-agriculture, T&C and cross-border labor
mobility-with a penetrating scrutiny of historical backgrounds and
developments, crosscurrents of interests and perspectives of both
developed and developing countries, and evolving trade patterns and
potentials in a more liberalized and globalized world economy. The
book also identifies critical economic issues and options for less
developed countries in the WTO negotiations for further
liberalization of agriculture, T&C, and cross-border labor
mobility. This volume will be an important point of reference for
students, scholars, and practitioners of international trade,
economic development, development economics, and WTO-related
issues.
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