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Trade and development
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Trade can be a key factor in economic development. The prudent use of trade can boost a country's development and create absolute gains for the trading partners involved. Trade has been touted as an important tool in the path to development by prominent economists. However trade may not be a panacea for development as important questions surrounding how free trade really is and the harm trade can cause to domestic infant industries come into play.
Contents
[hide] * 1 Overview * 2 Agriculture * 3 Market access * 3.1 Market access to developed countries * 3.1.1 Barriers to trade * 3.1.2 Producer support * 3.1.3 Lack of capacity * 3.2 Market access to developing countries * 4 Market access is vital, but not enough * 4.1 Support for agricultural production * 4.2 Support for participation in trade and the global economy * 5 World Trade Organization negotiations * 6 See also * 7 References * 8 Further reading * 9 External links
Overview[edit]
The current consensus is that trade, development, and poverty reduction are intimately linked. Sustained strong growth over longer periods is strongly associated with poverty reduction, while trade and growth are strongly linked. Countries that develop invariably increase their integration with the global economy, while export-led growth has been a key part of many countries’ successful development strategies.
Continents, countries and sectors that have not developed and remain largely poor have comparative advantage in three main areas: * natural resource exploitation, i.e. running down of natural capital such as rain forest timber; * low-education labor-intensive manufacturing, due to high population densities and little suitable land…...

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