The Challenges Faced by the Developing Countries in the Context of International Trade for Goods and Services in the Process of Globalization

11 Pages Posted: 6 Aug 2013

Date Written: March 30, 2009

Abstract

The Economist Intelligence Unit (2009) suggests that the in the last quarter of 2008, some economies have shrunk at annualized rates of over 10%. Shrinking international trade, both in terms of goods and services has meant that the countries that were growing at a faster rate are also the ones to be affected by it the most. The essay shows that developing countries already have a greater influence on world trade in goods and services than ever before. They face tough challenges and while some of them are inherent and in their control (corruption and more focus on services), others come outside their own domain (protectionism in developed countries). Poverty is a challenge that can be controlled through equal distribution of exporters' earnings in the developing countries but most importantly, the key point is that they should open themselves to each other first.

Keywords: International Trade, Globalization, Protectionism, Emerging markets

Suggested Citation

Khan, Ahmed, The Challenges Faced by the Developing Countries in the Context of International Trade for Goods and Services in the Process of Globalization (March 30, 2009). Available at SSRN: https://ssrn.com/abstract=2303821 or http://dx.doi.org/10.2139/ssrn.2303821

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