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Are patterns of trade a problem?
Generalising Less Developed Countries have a comparative advantage into primary products and employment intensive manufacturing; Developed Countries have the edge into capital intensive, high value and high tech added manufacturing and services.
• Problem for Imports Less Developed Countries mostly import oil, intermediate goods, consumer goods and capital goods along with high PED and YED
• Problems for Exports LDCs mostly export primary products which have low PED and YED and price volatile. Account of Exports for a higher percent of Gross Domestic Product into LDCs than into DCs.
What is the current economic status of abaca farming?
What is the development gap? The development gap refers to the divergence between standards of living in the developed and developing world. As like Source World Bank:
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Procedure for export under deferred paymet
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