How Does Trade Liberalization Impact Developing Countries?
For developing countries, trade liberalization can be a double-edged sword. On the one hand, it provides access to larger markets, foreign investment, and advanced technologies, which can spur economic development and job creation. On the other hand, it can expose domestic industries to intense competition from more developed economies, potentially leading to job losses and industry decline. Therefore, the impact of trade liberalization on developing countries largely depends on their ability to adapt and compete in the global marketplace.