The two predominant approaches to the study of international political economy—mercantilism and liberalism—have very different understandings of the nature and benefits of global trade.
Consider the following hypothetical:
Your country is negotiating a new trade agreement, which economists predict would generate about $5 billion in new economic activity in your country each year, and $10 billion in additional economic activity for each of the other states involved in the agreement (which are political allies but economic rivals).
Compare and contrast the positions likely taken by mercantilists and liberals with respect to the hypothetical trade agreement, and delineate the arguments each would make to support or oppose the agreement.
Include at least 2 peer-reviewed citations.
Length: 3 pages of body
Double-spaced, 12 point font, 1-inch margins
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