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The liberal theory of international trade is derived from neoclassical economics and asserts that free trade, and the liberalization of domestic economies will produce positive gains for all nations. However, evidence suggests that poverty in developing countries has been perpetuated, and in some cases deepened within the framework of free trade. The term 'neo-liberal' is now used in a pejorative sense mainly by those who are critical of these kinds of market reforms.

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Q: What is liberal theory of international trade?
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