| 单词 | harmonization |
| 释义 | harmonization The idea that the taxes and regulatory rules in countries belonging to economic blocs should not diverge too widely. If capital and labour were perfectly mobile between countries, it could be argued that the members of common markets would have to adopt identical tax and regulatory regimes. With no mobility, any set of different taxes and rules would be viable. With imperfect mobility, harmonization is needed: large divergences of tax or regulatory regimes would distort the location of economic activities, but minor discrepancies have little effect. |
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