Regionalism Threatens Multilateral Trade, Vulnerable Economies at Risk
The paper compares how regional trade agreements affect global trade systems. It looks at 60 studies to understand different viewpoints. By studying these works, it is seen that regional deals can either make trade rules more open or more fragile, based on various factors. The research suggests that regional agreements could ease trade rules in tough cases, but might weaken looser trade rules. When there are strong industry pressures, regional deals could be more damaging.