1.b Current Trade Pattersb

Question 1

How can trade promote stability ?

Answer 1

1) trade encourages states to co operate
2) Multi lateral agreements can contribute to economic and political development
3) some bi lateral agreements include assistance in political issues such as human rigts

Question 2

How can trade support economic growth?

Answer 2

1) trade stimulates production
2) employment opportunities created—> multiplier effect

Question 3

How can trade support development within economies?

Answer 3

1) removal of tarrifs encourages LIDCs to foreign trade
2) allows LIDCs to reinvest into developing their infrastructure
3) TNCs/MNCs can provide socio economic impacts
4) Trade unions. Boost development

Question 4

Inequalities in trade

Answer 4

1)/ LIDCs have limited access to market - widens development gap
2) skilled workers ( often men) benefit most from employment opportunities created
3) Internal inequalities worsened by trade

Question 5

Conflicts within trade

Answer 5

1) trade disputes can arise over tarrifs and prices
2) Border and customs authorities subjected to corruption
3) port development —> environmental impacts / controversy

Question 6

Injustices in trade

Answer 6

1) Use of child labour / slavery attempts for cheap labour
2) Unequal power relations / unfair trade rules affecting independent businesses in LIDCs most