Title Description:
Trade makes the world go round. Without it you would not have your mobile p...Trade makes the world go round. Without it you would not have your mobile phone, computer or even a cup of tea! All of these products are imported into the UK through trade. All countries are interdependent, because they exchange goods to meet their needs. Trade enables countries to profit from the goods that they export. The more money that is made, the more a country will have available to use for development. However, inequalities in trade exist across with world with MEDCs dominating world markets. As a result LEDCs struggle to compete, and trade has led to the widening of the development gap. Here we learn how these trade patterns can influence development by looking at barriers to trade, trading blocs like the EU and the relatively new concept of Fair Trade.
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