ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Catalyst to World Trade

to accumulate large reserves of foreign exchange, an increase in exports will invariably lead to increased imports from developed countries. Moreover, the slow-down of the engine of economic growth In the developed countries can be avoided, if somehow the vast latent purchasing power of the economies of the third world can be activated. In this context, it is worth noting that the four Asian economies of Hong Kong, South Korea, Singapore and Taiwan are now significant buyers of manufactures on world markets. In 1987f they accounted for nearly one-third of acceleration in world trade in manufactures.

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