Problem
Describe the impact of each of the following goals from the Hong Kong WTO meeting on (i) domestic prices and welfare of the country taking the action and (ii) world prices and welfare for the partner countries.
a. Elimination of agriculture export subsidies
b. Reduction of agricultural tariffs
c. Duty-free, quota-free access for 97% of goods originating in the world's least developed countries
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.