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Topic 4: Trade and developing countries


1) What were many developing countries strongly influenced by for about 30 years after World War II? : For about 30 years after World War II, trade policies in many developing countries were strongly influenced by the belief that the key to economic development was the creation of a strong manufacturing sector - and to do that the domestic industries were protected from international competition
2) What was the shift in trade policies in the late to mid-1980s? : In the late to mid-1980s there was a shift in trade policies adopted by the developing countries with policies geared towards free trade and exports acting as an engine to growth
3) What do developing countries have? : Developing countries have a potential comparative advantage in manufacturing
4) What should governments in developing countries do to allow the new/infant manufacturing firms to develop? : To allow the new/infant manufacturing firms to develop, the government should impose import quotas and use tariffs to restrict imports
5) Why should the governments of developing countries impose import quotas and use tariffs to restrict imports? : The governments of developing countries should impose import quotas and use tariffs to restrict imports until the new industries are strong enough to compete internationally
Created on: 5/17/2017
# of questions: 87


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