Question

which region of the country specialized in the textile industry as well as other types of manufacturing?

Answer 1

Trade policies in today’s “flat world” (Thomas Friedman’s famous analogy to the supposed ‘evening’ effects of globalization) are an issue of utmost concern to developing countries because these policies dictate the terms on which LDCs will be integrated into the global economy. In fact, the development debate is often framed as “trade versus aid,” suggesting that participation in global markets is sufficient for LDCs to begin to climb the development ladder and address poverty among their citizens. In reality, trade is just one more tool for development and is closely related to the other instruments discussed. Theoretically, aid, combined with in-country economic and governance reforms, should create the conditions for LDCs to take advantage of globalization for growth. However, LDCs’ preparations for global competition are only one part of the equation; international trade policy is what they inevitably encounter when they enter the market