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Chapter Five discusses international trade institutions, focusing on the General Agreement on Tariffs and Trade (GATT) and its evolution into the World Trade Organization (WTO) in 1995. It outlines the principles of GATT, including non-discrimination and reciprocity, as well as exceptions for developing countries and various negotiation rounds that aimed to reduce trade barriers. Additionally, the chapter explores regional economic integration forms and their welfare effects, highlighting the balance betwee

Author

tesfahunkidanu99

Language

EN