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

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US Commercial Policy-Effect on Trade of Developing Countries

US Commercial Policy Effect on Trade of Developing Countries AMONG the various challenges facing American commercial policy the most important concerns the trade of developing countries which contain two- thirds of the world's population. For the developing countries trade has not generally been an "engine of growth". The efforts of the developing countries to diversify their economies are thwarted by many difficulties, the greatest being paucity of foreign ex- change. It has been estimated that if the developing nations are to achieve a reasonable rate of growth they will need to augment their foreign exchange receipts by something like $ 24 billion by 1970. Some of this increase might occur automatically with the spurt in world output and trade. However, it has been indicated that if an increase of the magnitude suggested is to be attained, a large part

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