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Write 8 pages with APA style on Trade Growth and Development. International trade is a trade or exchange of goods between two or more nations. This can be at the individual level, organizational, comp
Write 8 pages with APA style on Trade Growth and Development. International trade is a trade or exchange of goods between two or more nations. This can be at the individual level, organizational, company level, or at the government level. International trade occurs when there is movement of goods across national borders. Economic growth is the increase in a country’s production measured in Gross National Product or Gross National Income or income per capita (Nafziger 2005). A sign of growth in the economy is shown by the boost in the quantity of trade conducted in a country, setting up of buildings, roads among other visible factors.
Economic development, on the other hand, encompasses economic growth as well as the additional factors of changes in output distribution and economic structure (Nafziger 2005). The changes include improvements in the welfare of the citizens, their level of happiness, as well as, their physical health conditions among others.
Contribution of International Trade in Economic Growth and Development
Looking at the impact that international trade has had on the growth and development of economies, this article will divide the impacts into two parts namely. the impacts on the developing countries and the impacts on the developed countries. Each of the two categories will look at the gains and losses that have been the result of international trade on different economies.
As the previous paragraph has suggested, there are varying implications of international trade in the different economies. The first focus is based on the developing world. It explores the positive and negative impacts of international trade on the developing world.
