In the statement “ . . . it amounted to a recognition that international trade and its benefits cannot be enjoyed unless trading nations accept the discipline of a negotiated rules-based environment”, ‘it’ refers to
Explanation:
(c) is the correct answer choice. The ‘benefits of international trade’ (para 2, lines 11 and 12) refer to ‘the export gains’ (para 2, line 14) as brought out in option (c). Whereas option (b) only talks about the export gains and option (d) only about a rule-based system. (a) is a misleading choice.
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