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| The Political Economy of International Trade 2. Understand why some governments intervene in international trade to restrict imports and promote exports. 3. Appreciate the position of those who argue that government intervention in international trade can be self-defeating and typically fails to produce the gains that advocates of intervention claim. 4. Be familiar with the evolution, purpose, current status, and future prospects of the global trading system as embodied in the General Agreement on Tariffs and Trade and the World Trade Organization. 5. Understand the important implications for business practice of government intervention in inter- national trade and of the current global trading system. | ||