Trade not aid

Updated: Aug 20, 2021

A slogan epitomizing the view that industrial countries could facilitate the progress of less developed countries (LDCs) more by liberalizing their treatment of LDC exports than by aid payments. The argument is that aid may be spent inefficiently whereas better access to Organization for Economic Co-operation and Development markets for LDC products such as textiles would promote sustainable development consistent with countries’ comparative advantage.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.