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Meanwhile, the developing countries could continue protecting their most sensitive industries the old-fashioned way--through high tariffs, restrictive quotas, and/or innumerable non-tariff barriers to trade. This grand scheme also ignores the mutations that developed from the "game plan" in the form of non-tariff barriers, currency intervention, "allowable" subsidies that address a broad number of issues, etc. Were we to succeed in establishing either tariffs or non-tariff barriers to trade, the entire world would lose. |
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