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Diplomacy & Politics Glossary
Every term you need — from Model UN procedure to international law, economics, and political theory. Clear definitions, real examples, and cross-linked concepts.
2302 terms across 11 categories
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3 termsTrade Creation
The increase in trade resulting from the reduction of trade barriers between member countries of a trade agreement.
Economics & Trade
Trade Diversion
Occurs when trade shifts from a more efficient exporter to a less efficient one due to the formation of a trade agreement.
Economics & Trade
Trade Diversion Effect
Occurs when trade shifts from a more efficient exporter to a less efficient one due to a new trade agreement.
Economics & Trade