Question:
For an LIDC country you've studied, explain how international trade has influenced its development.
Author: Miqdaam Hamed HassanAnswer:
1)DRC - internationally traded minerals coltan and wolframite with tech companies and diamonds and gold with jewlery companies such as Banro corp. 2)high population of over 79 million so demand for food and water very high - country at risk of trade deficit due to the increase of demand 3) benifits of trade - grew economy 7% from 2010-12 improving standards of living, establishing links countries more likely to invest problems of trade - due to reliance on primary goods, economy vulnerable due to falling prices 2008-9 , reliance on improting manufactured goods-vulnerable to increase prices, demand for minerals leads to uncontrolled exploitation and violation
0 / 5 Â (0 ratings)
1 answer(s) in total