Chinadevelopment Study guides, Revision notes & Summaries

This essay argued that trade benefits growth. Case studies of Taiwan and China illustrate that there are certain conditions whereby the benefits of openness transpose to the poor. However, trade cannot be a substitute for development policy. Some countries are unable to export enough or diversify their exports out of a narrow list of commodities. This induces economic dependency and hinders long-term growth. Moreover, trade openness is not a sufficient condition to reduce poverty and inequality...