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This dissenmion looks at increasing trade ilUegrorionjrom three angles: FirSl, what are welfare implications of trade integrmion and trading blocks? Chapter I starts by questioning Krugman's (1993) trading block modeJ, which suggested that world trade is increasingly conducted between three trading blocks, which produces a minimum in world welfare.
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The political economy of trade integration, G. Oliver Fratzscher
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- 1996
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