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International Trade And Economic Development
Essay specific features


Written by:
Elisa M
Date added:
November 27, 2011
Level:
University
Grade:
A
No of pages / words:
18 / 4860
Was viewed:
6093 times
Rating of current essay:
Essay content:
While international trade has been present throughout much of history, its economic, social, and political importance has been on the rise in recent centuries. In this paper we will not go into the theories governing international trade but the focus will be more on its implications on economic development...
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Likewise the share of the developed economies in world exports and imports is high. The imports consist mainly of raw materials which are the exports of the developing countries. The reason China is still a lower middle-income economy is due to its large population.
During the 1950s and 1960s, most developing nations, particularly the larger ones, strongly opted for a policy of import substitution industrialization (ISI)...
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