Choose whether the statement is true/false:

Developed countries do not want the developing countries to remove the trade barriers as it would affect their trade.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
Developed countries always want developing countries to remove their trade barriers and make trade easy. The main reason behind it is that most multinational corporations with their headquarters in developed countries wish to work in developing countries as it would yield a higher return. Developing countries are preferable for these MNCs as the cost of getting labourers and raw materials are low, and thus with increased sales, it is very profitable for them. So, the liberalisation of trade and investment by developing countries is also beneficial to the business and acquisition of developed countries. Hence the correct statement would be, Developed countries want the developing countries to remove the trade barriers as it would affect their trade.

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