Th4.3: MOS - Trade Liberalisation Flashcards
1
Q
What can countries aim for?
A
export led-growth
2
Q
What will removing trade barriers do?
A
mean that domestic industries either close or are forced to become as efficient as other world producers
3
Q
Where will resources be allocated to?
A
allocated to their best use where the country has a comparative advantage
4
Q
What countries have benefitted from this method?
A
Singapore and South Korea
