The greater part of international trade consists of an exchange of raw materials from developing nations for manufactured goods from developed nations.” True or false? Explain
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The greater part of international trade consists of an exchange of raw materials from developing nations for manufactured goods from developed nations.” True or false? Explain
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Please react to the below answer on this discussion question.
Question: “The greater part of international trade consists of an exchange of raw materials from developing nations for manufactured goods from developed nations.” True or false? Explain.
Answer: This statement is false but with slight adjustment. “While more than half the exports from developing nations do go to developed countries, this portion has been declining over the past 40 years, from 72 prevent in 1970 to about 50 percent by 2010. Approximately 70 percent of exports from developed economies go to industrialized nations, not to developing countries” (Ball, 35). There are some exceptions however to this developed to developing country export trend. These exceptions are with the United States and Japan. They send a larger portion of exports to developing nations than other developed countries do.
