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Developing countries face challenges in global trade from "summary" of International Economics by Robert Carbaugh
Developing countries are confronted with numerous obstacles when it comes to participating in global trade. One of the primary challenges they face is the lack of infrastructure to support efficient trade operations. In many developing nations, inadequate transportation systems, ports, and communication networks hinder the smooth flow of goods and services across borders. This lack of infrastructure not only increases transaction costs but also reduces the overall competitiveness of these countries in the global marketplace. Another major issue for developing countries is the limited access to capital and technology. Without sufficient financial resources and technological capabilities, it becomes difficult for these nations to modernize their industries and improve their production processes. As a result, they often find themselves unable to meet the quality and quantity standards demanded by international markets. This further hampers their ability to compete with more advanced economies and expand their share of global trade. Furthermore, developing countries often fac...
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