Tag Archives: trade

Outline and explain two reasons why trade does not always promote development (10)

One reason is that poorer countries tend to export low-value primary products such as agricultural goods, while richer countries export higher value goods. Frank (1971) argues this is a legacy of colonialism during which rich countries made their colonies specialize … Continue reading

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Arguments for Trade as a Strategy for Development

‘Free’ trade* refers to the relative absence of government interference in the affairs of private businesses and the consumers who buy their products. Free trade depends on free trade agreements. Free Trade agreements are policies established between countries and private businesses … Continue reading

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