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Running head: INTERNATIONAL TRADE
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The position of developing countries in the international trade
Student’s Name
Professor’s Name
Course
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INTERNATIONAL TRADE
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The position of developing countries in the international trade
Introduction
Trade is an important stimulator of economic development of a county (Reyes, 2012).
Through trade countries exchange products, money and technological know-how. Therefore, a
country gets income, particularly foreign exchange, which it, in turn, uses to finance local
infrastructure and provide citizens with essential services. As noted by Reyes (2012), most
developing countries invest more in military and war equipment at the expense of technological
innovation. Therefore, it is through international trade that the developing countries can get
skilled manpower and technology they require to build sophisticated infrastructure, secure
electronic elections, and health equipment as well as machines for mass production and war
preparedness.
In this era of globalization and technological advancements, there are great deals of
opportunities that developing countries can exploit so as to engage international trade with
developed countries. Besides just connecting the social aspects of the world, Reyes (2012)
opined that globalization has also increased the interconnectivity of the economic transactions,
for instance through easing communication and mobility of financial resources. Through the
internet, customers are able to place orders from international suppliers, sign contracts, make
payments and have the goods delivered online at the comfort of their home or companies. Take
for example Microsoft Company, its software and keys are downloadable upon payment of
money and accepting of software agreements. Developing countries like Nigeria who are
flourishing in movie making industry too can take advantage of the internet to secure the market
and deliver movies online without spending much money on distribution.
Owing to the importance of international trade and the trend in glob...
