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APA
Subject:
Social Sciences
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Essay
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English (U.S.)
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Topic:

Choose two assumptions you think most unreal in free trade theories. Discuss how the GVCs (global value chains) today have complemented the conventional free trade theories. (Essay Sample)

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Choose two assumptions you think most unreal in free trade theories. Discuss how the GVCs (global value chains) today have complemented the conventional free trade theories.

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Content:


Free Trade Theories
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University Name
According to the World Bank, goods should be imported and exported freely, without any discrimination, and all industries should play their significant role in this regard. Free trade is what importers and exporters support due to its multiple benefits: it helps them to target potential buyers worldwide, paves their ways towards the peak of success, allow them to find emerging markets and gives them lots of chances to generate huge revenues (Hayakawa et al., 2018). However, there are a lot of assumptions that look unreal and meaningless in free trade theories. For example, the assumption that the world stood at $650 billion in 2016 has nothing to do with reality. 

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