Critically assess the Role of Trade in Development Essay

Critically assess the Role of Trade in Development - Essay Example In the context of low developed countries, trade becomes crucial to i) reduce economic vulnerability and protect the environment and ii) to mobilize financial resources (UNCTAD, 2010). The role of trade in the economic development and national development strategies are countless. Broadly the decisive role played by trade in economic development is discussed under five major heads in this paper. The goods and services which are produced locally have access to a larger market and the demand expansion effect of trade make the economy capable of overcoming the constraints of its local and domestic market size. This case becomes more relevant in the case of small and medium sized economies who have limited domestic purchasing power. The increasing returns to scale as a result of access to international markets can further reinforce the benefit of operating at a higher output level. The manufactured goods propose better prospects for export earnings by allowing for a more rapid productivity growth and production expansion and also offer the promise of greater price stability as volumes expand, thereby avoiding the declining terms of trade which hinders the long run economic performance of many developing countries (UNCTAD 2002) Trade leads to acquisition of newly affordable goods that are necessary for technological dynamisms, poverty reduction and increasing economic development. Those goods would not available unless export or import occur properly and even if they are available, those may not be for the scarce domestic resources. The import-supply role of the imports like food, fuel, capital equipments, spare parts, intermediate inputs and machinery for long run investment are very critical in the context of low developed and developing countries where the agriculture sector is more predominant and the productive capacities of manufacturing industries are weak. If the foreign earnings from exports are appropriately

Salvation by Langston Huges Essay Example | Topics and Well Written Essays - 250 words

Salvation by Langston Huges - Essay Example Unfortunately none of these things happened to him. The author’s vivid description of the preacher’s sermon, where he relates stories of the fires of hell, and then of the sheep who came to the fold, and only one lamb left out in the cold; frightened most of the young children into being â€Å"saved†. The little girls were in tears and hurried to be saved, and finally, all but the author and his friend Westley remained, still waiting for Jesus to come to them. The pressure of the people, the deacon and the sisters is graphically described as the two young boys wait in the heat and noise of moaning and praying and singing in the church for some sign from Jesus. Finally the author describes how his friend Westley, gets tired of waiting and decides to be â€Å"saved.† The author, however in his innocence still waits. As his wait for Jesus moves from anticipation to confusion and finally, shame at making so many people wait for him, he decides to give in to the pressure.The fact that God had not harmed Westley , despite the fact that he had lied, added to his own conviction that it was better to lie than make so many people wait, and make more trouble for them. The guilt of his deceit and the lie that he had told, however, kept eating away at his conscience, and finally in a flood of tears, he wonders if there was Jesus, then why did he not come to help him? The piece is an illustration of how the innocence of a child is preyed upon by older people who try to force their views and opinions on the young, instead of allowing them to experience things for themselves and take their own decisions. The irony is that all the elders who brought pressure to bear on the author may not have been very honest about their having seen Jesus. When adults tell children to be honest, it is their first duty to set a good example, otherwise the young