Why is trade in essential part of the culture and economy of the Pacific Islands
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Explanation:
As in other developing regions, international trade plays a particularly crucial role in the economic life of small Pacific island countries. ... Export activity is generally viewed as a major source of growth, particularly through its dynamic and catalytic effects on the rest of the economy.
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Trade in essential part of the culture and economy of the Pacific Islands
Explanation:
- In the society and economy of the small Pacific island nations, similar to other developing regions, international/global trade plays a crucial role. All these nations are highly dependent on imported products and services such as fuel, food, industrial equipment and a range of manufactured items.
- Exports are a key source of foreign currency income and the generation of cash revenue, employment & development. In general, exports are considered a significant source of growth , especially because of their catalytic and dynamic impact on the economy.
- Trade spreads culture & ideas because it encompasses people who move around the globe while trading. They come into contact with new cultural traditions & ideas when they travel, they (and people they meet). The cultures of Pacific Islanders follow ancient traditions and customs which promote an honourable and noble way of living. Trade has bought has bought with it wealth as well as diversity, and helped to spread the Pacific islanders culture
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