Trade cannot be an engine of growth for some developing nations at this time because:

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There are too many trade restrictions that can be easily removed but their debts contracted for purchase of capital goods are fixed

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Transportation costs among and within countries  are much lower than before but their debts for purchase of capital goods are fixed and the elasticity of the demand curve for their exported goods is much greater than one

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the income elasticity for many of their exports is much less than one so they are subject to much fluctuations in their export receipts but their debts contracted for purchase of capital goods are fixed

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technical advances have increased the raw-material content of many products

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their exported products are highly competitive

Crowdly

Trade cannot be an engine of growth for some developing nations at this time bec...

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