| 单词 | reciprocity |
| 释义 | reciprocity The principle of international economic relations by which country A treats the nationals of any foreign country in the same way as that country treats A's nationals. This is contrasted with multilateralism and the most favoured nation (MFN) principle, by which all non-residents are treated equally. Supporters of reciprocity argue that it is both fair and likely to promote market access for one's own exporters; opponents argue that insisting on reciprocity is futile, because imports promote competition and lower prices, so that every country loses by its own trade restrictions. Reciprocity is difficult to interpret when countries are not symmetric: witness the prolonged disputes between the USA and Japan over their mutual trade. |
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