Choose ONE of the following questions:
1) Examine on the basis of existing theories and experiences of the developing countries why the extent to which factor availability is no longer an effective explanation of the competitiveness of countries.
2) Discuss why countries impose trade restrictions if ‘free trade’ is the best policy. On the basis of economic theory explain why the WTO is a good idea. Analyse also why WTO negotiations in the past had experienced difficulties.
3) Critically access that the US dollar will be replaced as a global reserve currency in the next ten years? To what extent do you regard that will enable the global economy to avoid currency crises?
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