Answered

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Why do many developing countries lower their trade barriers?

A. In order to qualify for low-interest loans from the International Monetary Fund (IMF)
B. To improve their own economies
C. To appease the United Nations
D. To allow a balance of necessities and luxury goods

Sagot :

GinnyAnswer

Final answer:

Developing countries lower trade barriers to improve their economies, achieve a balance of necessities and luxury goods, and qualify for low-interest loans from the IMF.


Explanation:

Developing countries lower their trade barriers for several reasons:

  1. To improve their own economies: By engaging in international trade, developing countries can access new markets, technology, and resources that can boost their economic growth.
  2. To achieve a balance of necessities and luxury goods: Lowering trade barriers can allow developing countries to import necessary goods at lower costs while also accessing luxury items that may not be locally available.
  3. To qualify for low-interest loans from the IMF: International financial institutions like the IMF often encourage countries to lower trade barriers as part of economic conditions for receiving financial assistance.

Learn more about Reasons for developing countries to lower trade barriers here:

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