explain trade creation and trade diversion effects on custom union ,
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so that is that t
trade is a thing that we do len den if I give you order of diamonds so then you have to also give me order of diamonds only
now in good language like :
Trade creation and diversion are important direct effects of the formation of a customs union. ... Trade diversion on the other hand means that trade shifts from a lower cost producer outside the union to a higher cost producer inside the union.
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