If opening up to free trade would benefit a nation, then why do nations not just eliminate their trade barriers, and not bother with international trade negotiations? Analyse the situation of US China trade war in respect of its origin, impact on US, Chinese, world and Indian Economy with suitable data of year between 2015-2020. What are the future prospects for India in this regard?

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.