00:02
So let's explain why converging economies may present a strong argument for limiting flows of capital, but not for limiting trade.
00:11
So let's first understand what converging economies are.
00:27
So converging economies are basically economists.
00:31
They are basically developing nations, developing economies that are basically going to imitate the growth of more developed countries from countries where they borrow technology.
00:44
So they are basically developing economies that imitate the growth of more developed countries from whom they borrow technologies.
01:19
So these are converging economies.
01:23
So now, back to the question, explain why converging economics may present a strong argument for limiting flows of capital, but not limiting trade.
01:32
So, convaging economies would be a good example to show that the nations that are involved in global trade will be able to progress economy and socially...