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Sustained growth and development have rarely if ever been achieved in countries that have refused to open up to trade and investment. Trade alone though is not enough. Many other factors contribute to development, including education, infrastructure, governance, and institutions. It is only when progress is made on all these fronts that developing countries will be able to harvest the full benefi ts that come from integration into the global trade and investment system.
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Chapter 8 examines trade questions as they affect developing countries. It considers the infl uence of trade on development and the prospects for trade between developing countries, so-called “South-South” trade.
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