Hi guys, im currently studying and really struggling with my IPE module, and Im trying to formulate a plan for an essay which I have to do(before tomorrow). Any help or thoughts on the situation would be much appreciated.
My essay question is - Are the benefits of international trade received by “developed” and “developing” economies comparable?
I haven't been taught this topic anywhere near enough yet to really help you out, but I'll give you the little knowledge I know as it might help.
Developed countries often exploit the developing countries as they don't have the knowledge and wealth to make full of use of their natural resources. E.g. We go into African countries and take their oil. Arguably you could say that we benefit the developing countries greatly because when we take their oil we pay them in manufactured goods which they otherwise wouldn't have access to. Some countries wouldn't have computers if it wasn't for the developed World trading with them. You can argue it's exploitation which no doubt the developed World in the long run get the better deal, but it's mutually beneficial.
If their wasn't international trade developing countries would have to make their own technological advancements which could take decades or even centuries whereas with trade they can sell stuff they can't use yet like oil in return for access to our technological break through.
Now I've written it and realised how little I know. (I can't even remember the theory of how a society develops) I'm confident it's no use to you. Best of luck anyway.