International trade is considered to be an economies engine of growth. There are many economic models to explain the reasons and benefit of international trade. The importance of international trade cannot be ignored. It has contributed immensely to the all sided development of a nation.
Choose Malaysia and one other country from emerging economic powers. Tip: Choose the countries that have some history of trading between them.
- Using country-specific trade statistics, analyse the general pattern of trade experienced by each of these economies in the last 20 years. Assess whether each country has become more or less dependent on international trade in more recent times.
- Given your analysis in part ‘a’ above, discuss with the application of trade theories whether the economies of the countries you had chosen had benefited from trade, give evidence to support your answer.
- Examine the impact of the ringgit’s foreign exchange rate on Malaysia international trade and the economy.
This question belongs to economics and discusses about general pattern of trade of Malaysia.
Word count: 1012
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