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Reports that misconceptions that US economic decline is due to other nations' unfair trade practices is provoking protectionism in the Clinton administration that could result in a system of regional trading blocs. How declinism drives trade policy; How unilateralism has hurt the General Agreement on Tariffs and Trade (GATT); Danger of trade blocs.
Jagdish N. Bhagwati (Fri,) studied this question.