World Trade: Sons of the Common Market

If you can't join Europe's Common Market, maybe you can lick it by forming one of your own—or so goes the thinking these days among nations from Chile to the Congo. In Cairo alone over the past fortnight, the groundwork was laid for two new common markets; one would link five Arab nations, and another six African countries (Egypt judiciously proposes to join both). Africa, in fact, is building three common markets. Two more have been launched in Latin America, and an Asian market has been proposed by Malaya, Thailand and the Philippines.

Prime movers in this proliferation of trade...

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