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International Trade: Free, Fair and Open? by Ralph Lattimore, Patrick Love

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8.  Trade and Development

Sustained growth and development have rarely if ever been achieved in countries that have refused to open up to trade and investment. Trade alone though is not enough. Many other factors contribute to development, including education, infrastructure, governance, and institutions. It is only when progress is made on all these fronts that developing countries will be able to harvest the full benefits that come from integration into the global trade and investment system.

By way of introduction…

“Fifty years ago, Korea was poorer than the Sudan. Its main export was wigs made from human hair. Today it is an industrial leader with a GDP per capita more than nine times greater than that of Sudan.”

Duncan ...

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