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What’s your thought on the future development of global economy in terms of the integration of...

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Economics

What’s your thought on the future development of global economyin terms of the integration of countries through cross-nationalcooperation and agreements?

Will the global economy more integrated or disintegrated?

Will countries stress more regional integration?

Will countries try to be more self-sufficient and decrease theirdependence on trade?

--Support your points with research evidence and criticalthinking--

Answer & Explanation Solved by verified expert
4.1 Ratings (712 Votes)
Over the years countries primarily have preferred two main methods or modes of development these are namely protectionism and capitalism Capitalists have argued in favour of lifting trade barriers and taxes and provide a level playing field to all countries to engage in trade On the other hand protectionism has focussed on selfreliance and increasing local production while reducing the imports which a country has over the years The end result however for those that have preferred protectionism is that they have experienced deep    See Answer
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