ABSTRACT
This chapter explains why economists largely agree that international trade, for the most part, benefits the economy Aviation is generally not an exception to that rule, though it has some special complications. Economists in general agree on most of the key policy issues relating to international economics. However, as is often the case in economics, this consensus has failed to break through many popular misconceptions, and therefore public policy in international trade deviates substantially from the ideal. Economists generally agree that free trade is the best policy in aviation and almost everything else. The United States is seen as an ideal place to invest: international investors are attracted to the world's largest economy, political stability, and a substantial degree of economic freedom. The Trans-Pacific Strategic Economic Partnership is a free trade agreement between Brunei, Chile, New Zealand, and Singapore, which was signed on 3 June 2005.
