Abstract
The advantages of trade between vastly different economies are self-evident. It appears to help both countries that Britain should import, say, Ghanaian cocoa in exchange for machinery and equipment. The advantages of large-scale trade between economies at a similar stage of development, with similar cost structures, are not so readily apparent. Yet in recent years trade has grown fastest in manufactured products between industrial countries.
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© 1985 Phillip Crowson
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Crowson, P. (1985). World Trade and Payments. In: Economics for Managers. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-17812-4_8
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DOI: https://doi.org/10.1007/978-1-349-17812-4_8
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-39004-7
Online ISBN: 978-1-349-17812-4
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