Sales: Sales: Support: Support:
Academic writing services  
Custom written essay Book report Research paper Dissertation Resume and CV Editing and proofreading  
main menu
By ordering custom paper you get
  • 24/7 Support
  • Over 100 professional US Writers
  • 300 words per page
  • Flexible discount system
  • FREE revision (within 2 days)
  • Anti-Plagiarism Software Check
we accept
sample essays
Accounting Essays
Admission Essays
Analysis Essays
Art Essays
Biography Essays
Biology Essays
Book Review Essays
Business Essays
Case Studies Essays
Cause and Effect Essays
Character Analysis Essays
Communication Essays
Communication and Media Essays
Compute Technologies Essays
Consideration Essays
Controversial Essays
Description Essays
Economics Essays
Education Essays
Evaluation Essays
Explanation Essays
History Essays
Job Essays
Law Essays
Management Essays
Medicine Essays
Music Essays
Personal Essays
Personal Experience Essays
Persuasive Essays
Persuasive Speech Essays
Philosophy Essays
Political science Essays
Politics Essays
Proposal Essays
Psychology Essays
Reflective Essays
Religion Essays
Research Essays
Response Essays
School Essays
Science Essays
Sociology Essays
Technology Essays
World Literature Essays
Global Economy essay
← NAFTA and the Monetary UnionPrivate Security Industry →

Global Economy. Custom Global Economy Essay Writing Service || Global Economy Essay samples, help

The definition of developing countries along with their characteristics forms two ways of determining whether a country is under developed or a developing nation. A developing country is that whose level of material wellbeing is lower than the standard, fixed by the World Bank. Developing countries have low income per capita, low Gross Domestic Product (GDP), high level of illiteracy, high birth rates, and low life expectancy and low. The Human Development Index (HDI) score of citizens in developing countries is inconsistent and varies with considerable gaps between classes. These countries have a high degree of economic vulnerability that occurs because of a slight change in price of their economic boosters. The UN’s HDI gauges these statistics and classifies a country under developed or developing country. The low life expectancy in developed country is because of the inadequate health facilities present in the countries that increases their death rates. Illiteracy level arises from ignorance and lack of funds to support one through a system of education. Both illiteracy and lack of funds lead to limited levels of industrialization in these countries. The citizens of developing countries leave a medium or low level of living standard. Common behaviors of developing countries are their reliance on exportation of agricultural products and raw materials such as crude oil because of the unavailability of industries to process their materials. However, the developing countries fall under two classes of less developed countries (LDC’s) and least economically developed countries (LEDC’s). LDC’s are those countries that have an average living standard, while LEDC’s are those, whose citizens have a below average leaving standard. Developing countries are in Africa, Latin America, Asia, Soviet Union, and the Middle East. Examples of LEDC’s include Somalia, Afghanistan, Samoa, and Haiti.

Importance of trade in developing nations

Trade has several impacts on the economy of the developing countries. The first positive effect is an increase in resources. Developing countries benefit by having a variety and increased amount of resources such as labor, capital, and land. This is achievable after sighing of free trade agreements with multiple countries, which have no trade borders and increase sales in the countries. The second effect is an improvement in the quality of life of its citizen because of the variety of imports that the citizens access. Some of the imports are not available within their borders. Other positive effects created are positive foreign relations and increased efficiency in production due to competition created from other counties. In Africa, trading of raw materials and agricultural products is the main source of foreign exchange for these countries that contributes positively to their economy. Examples of countries, which have benefited from trade, are Saudi Arabia and Mexico.

Ways through which trade help nations overcome their obstacle

Trade can enable developing countries improve their leaving standards, increase their economy and finally become developed countries. Saudi Arabia is an example of countries that used trade to overcome poverty and lack of industries. The country extracted crude oil and exported the crude form to most countries in Europe and Asia in the early part of the twentieth century. It used funds accumulated from trade to establish refineries that enabled it to export refined forms of petrol to its customers. This improved its economy drastically, thus shifting out of the list of less developed countries. Saudi Arabia is currently 56th in the global list of Human Development Index.

Ways in which trade can be encouraged in developing nations

Trade should be encouraged in the developed nations through bilateral agreements. Since most of the developed nations want to take advantage of the smaller ones, so there should be international laws to protect them. Those laws should be enforced to show the developed nations that they do not want to take advantage of them. There should be more laws like the fair trade agreement to help these developing nations, so that they can see that not only do they want to trade with them but also help them improve their economy. This will also help convince the farmers to trade with the developed nations. The problem is not to put these laws in place but to enforce the laws. An example is Colombia that has these laws that protect their coffee growers and their gem miners, but they are not enforced because this etching still happens in Colombia. I think that these laws should be more favored than any other, because these laws not only protect a country but also protect innocent people. It also helps the protection of developing nations against monopoly.

Policies, which should be favored more than others should

Free trade agreements have policies that need considerations in terms of affects they have on developing countries. These agreements ought to have equal terms of service that favor the developing countries. An example is the NAFTA agreement between the U.S, Mexico, and Canada. Investors from Mexico who wish to invest in the U.S find tougher terms than those who wish to invest in Mexico. This encourages U.S investors but discourages Mexican investors from investing in U.S. When Mexico, Canada, and U.S. entered the free trade agreement, the U.S. got a pass to export 50% of its products to Mexico, while the Mexicans got a 70% pass. The gap in these percentages ought to be wider in favor of the Mexicans (Krauss, 1997).

Policies that need avoidance

Some policies need avoidance because of their negative impacts on the economy of developing countries. Although trade between developed and less developed countries has a positive influence the economy of the less developed countries, strict measures need enforcement to protect developing countries. An example is export of raw materials to developed countries. Measures should be put in place to reduce the level of exportation of raw materials to international companies. Exportation of such materials leads to the developed countries retaining most of the output funds, generated by the materials. This deprives the less developed countries an opportunity to increase their economy through profits and industrial job. Therefore, measures should be put to ensure that investors set their processing industries in developed countries and process the materials within such countries. This prevents cash flows to developed countries (Krauss, 1997).

Intellectual rights should also be minimized in developing countries. An example is the pharmaceutical rights that prevent production of generic drugs in developing countries, thus, preserving the rights for the country of origin. Such policies ensure that developing countries remain uncompetitive in the pharmaceutical field, thus, derailing its development. Measures should be put to ensure that trade agreements do not favor only the wealthy in developing countries. Such measures should counter corruption and ensure equal opportunity, thus, increasing the rate of economic growth (Krauss, 1997). 

Global Economy. Custom Global Economy Essay Writing Service || Global Economy Essay samples, help

Order Now
Order nowhesitating

Related essays

  1. Private Security Industry
  2. Financial Reporting
  3. NAFTA and the Monetary Union
  4. Infrastructure in a Country’s Economy

order now

Order now
why choose us
96% of satisfied returning customers
24/7 customer support
A wide range of services
Up-to-date sources
100% privacy guaranteed
MA/PhD writers
Custom written papers only
Free plagiarism report
Free revision (within 2 days)
Free extras by your request
Direct communication with a writer
Are your writers qualified for the custom writing?
How quick can my order be accomplished?
Is it legal to buy custom essays, term papers or book reports from your company?
Are essays offered by your company truly custom-written?
Is it safe to buy from
How secure is the payment system of your company?
Can I submit custom essays or term papers done by your company as my own?
How can I contact your company if I've got problems with my ordered paper?

Finally, I've found the real custom writing service . My grades are saying "Thank you, it's been a pleasure to work with you."

Jamal, South Africa

I can't believe you finished my essay under such a short deadline! You saved me from a disaster once again. You guys deliver exactly what you promise. I'll be back. That's for sure!

William H , Kansas, US

contact us
Toll free for US & Canada only. International callers are charged for outgoing calls.

Our phone numbers: provides custom term paper writing/rewriting services inclusive of research material for assistance purposes only. The term papers should be used with proper reference and are not meant to replace actual assignments.

Get 15% off your first custom essay order

Order now

from $12.99/PAGE