Industrialization And Deindustrialization Questions
The role of trade in industrialization is crucial as it facilitates the exchange of goods, resources, and technologies between countries. Trade allows industrialized nations to access a wider market for their manufactured goods, leading to increased production and economic growth. It also enables countries to specialize in certain industries and import necessary resources or components for their industrial processes. Additionally, trade promotes competition, innovation, and the transfer of knowledge, which can further drive industrialization.