Preferential Trade Deals Threaten Global Free Trade, Warn Economists
The article explores whether countries making special trade deals lead to more global free trade. It suggests that these deals create profits from favoring certain countries, making global trade fairer. When global trade rules are made fairer, the profits from these special deals decrease, potentially making some countries hesitant to support these fairer rules. The study recommends that future trade agreements should focus less on favoritism to help move towards fairer global trade that benefits everyone.