How does the international trade feedback effect work to transmit economic booms or recessions across trading partners? Illustrate with example and figures
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International trade is only prospers once globalisation starts taking place.
Trade helps countries in providing newer and better opportunities on a global level.
Businesses tend to become more competitive in order to gain success and they make their product much more useful and efficient to let in compete with the internationally produced product.
Technological advancements take place and newer work techniques are use in order to gain a competitive advantage.
The more the trade, the more it benefits the country who has been producing the goods as their resources are being efficiently utilised this leads to an economic growth as the consumption and savings of the consumers benefiting increases.
Trade helps countries in providing newer and better opportunities on a global level.
Businesses tend to become more competitive in order to gain success and they make their product much more useful and efficient to let in compete with the internationally produced product.
Technological advancements take place and newer work techniques are use in order to gain a competitive advantage.
The more the trade, the more it benefits the country who has been producing the goods as their resources are being efficiently utilised this leads to an economic growth as the consumption and savings of the consumers benefiting increases.
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