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The demand for raw materials and semifinished goods stimulated trade (producing a positive balance) and contributed to the growth of crafts and mining.
We can think about this in terms of trade: producing industries may want trade protections, which will be good for their concentrated interest but bad for the economy as a whole.
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In contrast, free trade produced "abundance and employment".
Chapter 13 says no. ("Argument 4: Free trade produces more and better jobs").
Manfried Konrad, the Konrad Family proprietor and a roofer by trade, produces only 20,000 liters of wine a year.
Trade produces immediate benefits by opening up markets, but it also facilitates the flow of ideas and technologies, producing even greater benefits over a longer timeframe.
At UBS, $2 billion in trading losses was attributed to a rogue trader, while MF Global collapsed not because of its bet on troubled European sovereign debt, but as a result of a loss of confidence that trade produced.
Levies from smuggling and illicit trade produced revenues of a million dollars a day; even trucks exporting goods from Saddam-land to Turkey had to pay bribes to win passage.
New York's garment trade produces $4.5 billion worth of goods every year.
During ensuing years, trade produced a balance-of-payment crisis.
Trade produces gains, but power relationships determine who gets the gains from trade.
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CEO of Professional Science Editing for Scientists @ prosciediting.com