Main content
Explanation of trade deficits - LEDCs and MEDCs
A short animation explains raw materials are usually the least profitable products to trade. The concept of trade balance and the term 'trade deficit' are explained. While trade is essential for economic growth, most poor countries export cheaper raw materials and import high value manufactured goods from wealthy nations. Concludes with a definition of the terms LEDC - less economically developed country - and MEDC - more economically developed country.
Duration:
This clip is from
More clips from Trade, Debt and Aid
-
Ecuador's links with trans-national companies
Duration: 05:01
-
Sustainable aid projects in Tanzania
Duration: 01:29
-
The supply and demand of the world banana market
Duration: 02:49
-
The wealth of the banana trade
Duration: 03:07
More clips from World 2000
-
The success of a family moving to Cape Town—Urbanisation
Duration: 03:30