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Despite the accepted benefits of comparative advantage

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Reference no: EM13301424

Despite the accepted benefits of comparative advantage, international trade has been impeded by various governments around the world through the implementation of protectionist policies such as:

· The infant industry argument

· Changing comparative advantage and the inflexibility of workers

· To prevent dumping and other unfair trade practices

· To improve a country’s terms of trade by exploiting its market power

· To protect declining industries.

You are required to provide counter-arguments to the protectionist policies listed above.

Reference no: EM13301424

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