According to neoclassical economic theory, as long as trade is voluntary, both trading partners benefit as they can capi

[answerhappygod]

According to neoclassical economic theory, as long as
trade is voluntary, both trading partners benefit as they can
capitalize on their comparative advantages in
production. Indeed since 1980s, all developed countries and
international organizations such as IMF, World Bank and WTO have
been promoting free trade; yet most wealthy developed countries
practice protectionism themselves. Critically evaluate this
phenomenon.