Most industrial nations trade in environments characterised by trade restrictions such as tariffs and quotas and other administrative restrictions.
Most industrial nations trade in environments characterised by trade restrictions such as tariffs and quotas and other administrative restrictions. In this setting,net exports and therefore aggregate demand will be affected by trade liberalisation initiatives whether on bilateral based between two countries, multilateral bases within a regional trade agreement,or on a broader basis such as the World Trade Organisation( WTO).
Within the context of the text above, elaborate on the impact trade loberalisation would have on the Malaysian economic fundamentals. Choose any threee you are familiar with.
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