Few notes on BRICs and International Trade

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International Trade:

  •  More variety
  •  More competition so more innovation and increased efficiency (also specialisation), so lower prices
  •  More jobs, especially in developing countries
  • Can lose jobs in developed countries when firms move to places with cheaper labour
  • Exploitation of labour
  • More pollution
  • Economic growth
  • Many people lifted out of poverty
  • Increase world output
  • Prevents monopolies
  • Smaller countries may lose out
  •  Increases inequalities (of power and income)

Will the BRICs be influential?


<strong>      High econ growth

</strong>      MNCs move there

<strong>      Jobs

</strong>      Influential

<strong>      Lots of people




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