Who are the winners and losers of the integration of the world’s economies?

Conceptual understandings

• The increased interdependence of economies has benefits and costs.

• Increased economic integration may result in efficiency, welfare gains and improvements in economic well-being but the benefits may not result in equity.

US/CHINA TRADE WAR 2018/19/20 

(BIDEN HAS NOT PULLED BACK FROM THE TRADE WAR, HOWEVER, MEDIA REPORTING ON IT HAS DIMINISHED...)

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