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US risks missing out on trade liberalisation in Asia-Pacific

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MARKET-opening international trade policy reform tends to yield positive results. When trade flows increase, nations on both ends tend to benefit. At the enterprise level, in a trade transaction both parties usually perceive a benefit; otherwise the transaction would not take place. And trade often delivers benefits domestically thanks to increases in productivity from economies of scale and specialisation, competition and returns to investment in innovation.

© The Business Times