Over the past decades, East Asian economies (Singapore, South Korea etc.) have increased their share of the
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Question:
Over the past decades, East Asian economies (Singapore, South Korea etc.) have increased their share of the world's production and consumption. Use the gravity model of trade to explain what are the likely effects of this increase in the share of intra-East Asian trade (i.e. trade of East Asian countries with each other) in world trade.
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