PO220 Study Guide - Quiz Guide: Malaria, Tied Aid, Debt Relief
Document Summary
Trade: convergence, collier and the bottom billion. In a multi-trillion dollar global economy there are still a billion people living on under a dollar a day: development traps. Declining terms of trade: global structural factor. Different countries have access to and can produce and trade different things, some countries main source of exports are not worth the same as other countries: trade barriers. Globalization and trade: commodity prices and terms of trade. Declining terms of trade at increasing rate (accelerating) Accelerating disadvantage to countries whose trade is based on primary goods: trade liberalization. Top fifth of countries are in charge of 68% of global investment. Removal of barriers such as tariffs and non-tariff barriers. Countries in the south have had to remove barriers and liberalize trade, whereas countries in the north have not been doing the same (barriers limit their market) with subsidies etc: wto and multilateral trading system (link)
