Thesis: The International Competition

The international competition forces domestic producers to cease protective activities and embrace global strategies (Bernanke et al, 2001). Trade is vital for economic growth owing to the presence of foreign managerial practices, which lead to efficient methods of production.

International trade and foreign direct investment do not affect the rate of technological progress and enable the less developed countries to import a wide range of new technology. Countries ought to embrace international trade and direct investment in order to boost economic growth and development.

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