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Chapter 15: Problem 7

What are some obstacles to successful international economic policy coordination?

Short Answer

Expert verified
Successful international economic policy coordination can be hindered by a number of obstacles. These include conflicting interests among nations, disparities in economic size and strength, and varying degrees of economic stability.

Step by step solution

01

Identifying Obstacles

Before we can discuss the obstacles, we need to identify them. Notable obstacles can include conflicting interests among nations, disparities in economic size and strength, and varying degrees of economic stability.
02

Discussing Each Obstacle

With the obstacles identified, we proceed to discuss each one individually. The conflicting interests among nations refers to how different countries might have different objectives for their economic policies, making coordination difficult. Disparities in economic size and strength can make it challenging for smaller, less capable economies to follow the policies set by larger, more capable economies. Varying degrees of economic stability means that more stable economies may be hesitant to align their policies with less stable ones due to the potential risks involved.

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