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QUESTION 1
‘The structure, objectives, sectoral coverage, and membership of Regional Integration Agreements (RIAs) can substantially influence their potential economic gains and losses. Both economic theory as well as a vast body of empirical evidence point towards the superiority of full multilateral (rather than regional) free trade as the best strategy for a government to maximize national welfare. RIAs are a second-best arrangement, and are at most a step towards the ideal of multilateral trade'. Discuss the above statement in light of the benefits and costs of RIAs.
QUESTION 2
It may be argued that Globalisation increases poverty and inequality.
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The darby company manufactures and distributes meters used to measure electric power consumption. the company started with a small production plant in El Paso and gradually built a
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INTERNE T EXCHANGE POINT An Internet exchange point (IX or IXP) is a physical transportation that allows dissimilar Internet service providers (ISPs) to exchange Internet traf
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