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International Trade

Free, Fair and Open?

image of International Trade
International trade affects the price and availability of practically everything we buy. It also plays a role in many other domains, including jobs, the environment and the fight against poverty. OECD Insights: International Trade argues that prosperity has rarely, if ever, been achieved or sustained without trade. Trade alone, however, is not enough. Policies targeting employment, education, health and other issues are also needed to promote well-being and tackle the challenges of a globalised economy.

"The OECD is a major source for insightful analyses of current trade issues. It also plays a role in disseminating skilfully the results of less accessible writings on trade. This short book is a valuable addition to the latter endeavour and should be on the shelf of policy makers." 

-Jagdish Bhagwati, Columbia University

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Trade and Growth

Trade liberalisation affects growth in a number of ways. It gives producers access to bigger markets and allows them to increase the scale of their production. It gives consumers access to a wider range of goods at lower prices. It helps knowledge to circulate and encourages finance to seek new outlets. Trade policy also has an effect on growth by influencing the extent to which opportunities are seized. But trade liberalisation and good policy require a number of other conditions to be met to have the greatest impact, such as good infrastructures and a skilled labour force.

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