International Trade and Development

International trade and development refer to the exchange of goods and services between countries and its impact on economic growth and societal improvement. In developmental economics, this concept examines how trade can enhance wealth, create jobs, and foster innovation in developing nations. It emphasizes the importance of fair trade practices, access to global markets, and policies that support sustainable growth. By participating in international trade, countries can leverage their resources, improve living standards, and address poverty, leading to overall development and a more interconnected global economy.