Self-interest drives cooperation in international agreements and bilateral agreements like the US-China emissions deal, showcasing the benefits of working together for mutual gain.
Cooperation in International Agreements: One example where self-interest led to increased cooperation in the market is evident in international agreements such as the World Trade Organization (WTO) and the Montreal Protocol. Countries realized that reducing tariffs and protecting the ozone layer were in their self-interest, leading to deeper cooperation for mutual benefits.
US-China Bilateral Agreement: Another current example is the US-China bilateral agreement on emissions and cooperative research. Both countries aligned actions with their self-interests, resulting in joint efforts to address global issues, showcasing how self-interest can foster cooperation.
Path Dependency Approach: Analyzing real-world examples through the path dependency approach highlights how historical decisions in international trade influence current cooperation efforts, demonstrating the interplay between self-interest and cooperation.
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