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» In the last few years, for many people and their leaders, globalisation has become a scourge to be purged in favour of greater protectionism and unilateralism. This represents a sharp departure from the recent past, when globalisation was widely regarded as a positive force. What changed, and why?
» In 1950, the Canadian-born Princeton University economist Jacob Viner explained a customs union produces a "trade creation" effect, as lower tariffs and non-tariff barriers spur increased flows of goods among member countries.
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