Regional Trade Agreements Reshape Global Economy, Boost Prosperity for Millions
This article explores regional trade agreements, which are popular ways to boost trade among countries. The authors discuss concerns like trade diversion and the impact on broader international trade. They find that these worries haven't become big problems in reality. While some concerns are valid, regional trade agreements haven't caused widespread issues like feared. The authors suggest that more attention is needed to fully understand the reasons behind these agreements and their effects on trade relationships.