Bilateral Trade Deals Unlock Path to Global Free Trade
The article explores how trade agreements can lead to global free trade. It shows that bilateral and multilateral trade deals can both achieve this goal, depending on factors like countries' resources and priorities. In some cases, bilateral agreements are necessary for stable global free trade, especially when countries have different strengths or prioritize certain interests. However, when countries are more similar, both bilateral and multilateral agreements can lead to global free trade.