Managed trade
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International trade conducted in accordance with plans the natural mode of trade for planned economies, but is not convenient for market economies. While governments in market economies have sufficient powers to prevent trade they do not approve of, they have no adequate means of inducing private firms to supply exports they have promised that their country will provide or to buy imports they have promised their country will accept.
Reference: Oxford Press Dictonary of Economics, 5th edt.
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