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Essay / Research Paper Abstract
This 4 page paper examines the concept of bilateral trade and its effect on the economy. Third world economies are discussed in addition to how trade affects the developed world. Bibliography lists 6 sources.
Page Count:
4 pages (~225 words per page)
File: RT13_SA414bi.rtf
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Unformatted sample text from the term paper:
it occurs among more than two nations, that is something called multilateral trade (2004). Bilateral trade--and all trade for that matter--is generally good for the economy. The reason really goes
to theories of free trade, such as what emanates from Adam Smiths concepts and other economists who see it as the end all and be all of economic progress.
However, while thought to be generally good for the economy, some have argued that bilateral trade has hurt emerging economies. Why? It seems that there is an effect that may
best be illustrated by imagining twins in utero. Ideally, they should be born approximately the same size. Sometimes, that does not happen and one twin is nurtured while the
other has a lot of problems and sometimes dies. The situation with bilateral trade involving third world countries is that the developed nation that is involved in the trade is
nurtured, where the other party is not. In other words, the bilateral relationship is unequal in terms of who profits. One nation will profit while the other will do poorly.
Thailand, for example, believes that realistic negotiation is feasible when it comes to trade in agricultural products and this can help to alleviate the difficulties of third world nations ("WTO,"
2001). The snippet of information is telling, but indicative of a broader problem. The charges about not getting anywhere due to attitude appear to be true. In general, a trend
seen in the international environmental and social agreements seem to go towards the introduction of new moral ethics and concerns about global norms. However, it appears that the WTO is
moving in the opposite direction ("A brief," 1999). It has replaced the youthful architecture of economic, social and environmental governance with a new construction that draws on globalization (1999).
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