Suppose your state had a chance to reach a major trade agreement by making substantial concessions. The agreement would produce $5 billion in new wealth for your state, but $10 billion for each other...

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Suppose your state had a chance to reach a major trade agreement by making substantial concessions. The agreement would produce $5 billion in new wealth for your state, but $10 billion for each other states involved. The other states are political allies, but economic rivals. What would a mercantilist think about the deal? What about liberalist? What would you do if you were the leader of the subject country?
Answered Same DayApr 16, 2021

Answer To: Suppose your state had a chance to reach a major trade agreement by making substantial concessions....

Neenisha answered on Apr 17 2021
147 Votes
What would Mercantilist think about the deal?
Mercantilist believe in building a wealthy and powerf
ul state. This is the system under which there are restrictions on imports and exports are encouraged.
According to the agreement, the country will gain $5 billion of wealth whereas other countries will gain $10 billion.
Mercantilists believe in the idea of growth but not by enriching the rivals, they believe that economic power and monopoly brings the military power to the country.
Therefore, according to mercantilism, mercantilists will oppose this deal as this will lead to the economic growth of other countries as well which may harm the military power of own country.
What would...
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