Chapter 4

NCERT
Class 10
Economics
Solutions
5. Why do developed countries want developing countries to liberalise their trade and investment? What do you think the developing countries should demand in return?
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Question:

Why do developed countries want developing countries to liberalise theirtrade and investment? What do you think the developing countries shoulddemand in return?

Answer:

Developed countries want liberalization of their trade and investment from developing countries for various reasons. They make such demands in order to get raw material and workers on their terms and to earn maximum profit by investing their surplus money in the entire material. Developing countries should also demand for just globalization because only by doing this all sections of society in developing countries will get opportunities for progress. There should be a better sharing of the benefits of globalization and there should be proper and equitable implementation of the labor laws of the whole world. Adequate rights should be given to all workers, they can discuss in WTO to make just rules. All the developing countries can unite and raise their voice against the discrimination done towards the developed countries in the World Trade Organisation.

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