Benefits of International Trade on Developing Countries.

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Introduction It is because of the benefits associated with International Trade for many different countries both developed and underdeveloped that has seen it become a major part of the world that we live in today. International trade is the exchanging of goods, capital, services etc. amongst different countries and territories. International trade itself accounts foe a large proportion of a country. GDP is the value of all of the goods, services, capital that a country has. International has also been seen as a great way to create revenue for a country. The phenomenon of international trade is increasing and becoming more popular. However, the whole concept of trade is not a new one; its roots can be dated back to the 14th and the 15th century. The trading of tea and spices across continents was the most common form of trading in these times. Largely due to the availability and ease at which you can now develop and transport goods and services between countries. This is due to the recent advancements in modern technology and the many and efficient ways of transporting goods and services across countries. The importance of trade to the further growth of globalisation is essential. Without international trade countries would have to depend solely on products and services that are produced solely in their own country. As a result the country would lose out on revenue that comes from the trading. In recent times we are seeing countries with strong international trade gaining the ability to control the world economy, we will see in this essay that countries who seek to reduce the levels of poverty will look to developing their international trade. In this essay we will look at some of the economic institutions which help in developing less developed countries international trade. We will look at how international trade can benefit countries, focusing developing
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