Regional trading arrangements and developing countries
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posted on 2023-06-07, 20:16authored byMaurice W. Schiff, L. Alan Winters
The growth of regional trading arrangements (“RTAs”) has been one of the major developments in international relations in recent years. Virtually all countries are members of a trade bloc and many belong to more than one; more than one third of world trade takes place within such agreements; and regional trade is often advanced as a route to development.