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Essay Details:
Essay text:
While international trade has been present throughout much of history, its economic, social, and political importance has been on the rise in recent centuries. In this paper we will not go into the theories governing international trade but the focus will be more on its implications on economic development.
Consider the following data:
Sources: World Development Report
Economies Trade per
capita
(US$, 2004-2006) Trade to
GDP
ratio (2004-2006) Share in
world
total exports Share in
world
total imports
High income economy: United States 10864 25.9 8.59 15.46
Upper-middle-income economies: Mexico 4643 62...
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