Flow of Development in World Trade by Core Countries to Semi and Periphery CountriesAsma Inayat*, Muhammad Hamid Shahbaz, Usman Afzal and Fareeha Zafar
National college of Business Administration & Economics (NCBA&E), Lahore, Pakistan
- *Corresponding Author:
- Asma Inayat
National college of Business Administration and Economics (NCBA&E)
E-mail: [email protected]
Received Date: March 16, 2017; Accepted Date: March 31, 2017; Published Date: April 03, 2017
Citation: Inayat A, Shahbaz MH, Afzal U, Zafar F (2017) Flow of Development in World Trade by Core Countries to Semi and Periphery Countries. Int J Econ Manag Sci 6: 417. doi: 10.4172/2162-6359.1000417
Copyright: © 2017 Inayat A, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
The paper is about various approaches, which take into account the “World Trade” means Global relationships in between MDCs (more developed countries), and LDCs (less developed countries). Traditional economics (Neo- Classical Economics) debates that free trade in goods combined with free flow of capital will promote efficiency of resources between core and periphery, also improves long-run economic progress in latter. Therefore, the assimilation of less-developed countries into world economy invulnerable-trade and capital flow will par take positive effect. The assimilation in international trade is essential for dynamic development of both core and periphery countries. Because, several countries, which prevail in peripheries are rich in many aspects like labor, raw material, and production of primary products. Being rich in capital and industrialists, core countries provide labor and raw material to peripheries. In this way, the development in the world trade happens through assimilation of core to peripheries countries.