In my opinion --- Given that thousands of goods and services are produced, imported, and exported in any economy, determining how trade policy affects relative prices is complex. Political economy forces are often such that the poor have little influence on the policy choices made by governments. Therefore, the impact of a country’s overall trade policy on the incomes of different groups in society needs to be taken into account. This impact will be affected by relative prices. Just as or if not more important is to determine how the exercise of trade policy affects incomes.

Source author: Tarniem Shokry Iskandar tar.eskander@hotmail.com