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Exports from several countries reflect some of the tangible outcomes of economic integration across the globe.
In general, economic integration is expected to provide a slew of benefits to consumers. It would result in lower consumer prices because of increasing allocative efficiency through production structures based on comparative advantage, the exploitation of economies of scale in the bigger domestic and international markets, and the adoption of new technologies. The pace of international economic integration accelerated in the 1980s and 1990s. The sweep of economic reform and spectacular economic growth in China and the commitment to market-based reforms by India have added fuel to this process...
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