Divergent Growth Rates Economic Level ot Countries One of the most common-ways of classifying countries is by their level of economic or industrial development. The high- income countries (Western Europe, the United States, Canada, Australia, New Zealand, and Japan) are usually referred to as industrial, developed, or First World countries. The communist countries and...
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Trade by Product Category Although figures on global trade by product category are always a few years old before they are compiled and published, we can nevertheless discern some trends. Figure 1.3 shows growing importance of manufactured goods in world trade up to 1972. Since then the categories, although fluctuating from one year to...
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