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This study is to inquire the development, theoretical limitations and policy implications of Strategic Trade Policies. In 1980s, the theoretical development of Strategic Trade Policies were achieved in the international Economics as a new trade theory. This theory has given the advanced countries, especially United States, a theoretical weapon for executing aggressive trade policies. But as revealed in this study, the economic effects of the policies could be very small and limited unlike the theory itself suggesting.
Even though it has several theoretical and empirical limitations, Strategic Trade Policies have important points at issue which need to be more considered. The most essential point is that it could give us a means which can deal with new industries, high-technology industries working strong economies to scale, that the traditional trade theory could net cover. So, it is necessary that this Strategic Trade Policies should be more developed and expanded theoretically and empirically.

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