A Review of the Strength of Trade Polices of Emerging Economies and their Goal of Sustainable Economic Development
DOI:
https://doi.org/10.47067/reads.v8i2.461Keywords:
EPZs, Growth Theories, Economic Difficulties, Trade Policies, Sustainable Economic Growth, Developing NationsAbstract
Developing nations are trying to handle the economic problems by applying different strategies, on the other hand they are highly impressed with the infant-industry idea, that is belong to classic growth theory of traditional trade. Which is not a worldwide valid idea. According to many economists and scholars the infant-industry proposal stops the emerging countries to enter into international business market. The Nations who embrace this idea could not enjoy the competitive advantages in the global market and who decide not to enter into the international market, they have to face high cost of business, inefficient production and decease in jobs opportunities. This study has explored that many firm want to grow their business all over the world at present-day and they are seeking reliable international suppliers and freedom of movement in operating their investment units. To attract the foreign and local investors the emerging nations have to enhance the corporate image of their FTZ/EPZs setup, which is protected by the both endogenous and exogenous growth theories. In its performance and functions, it has the significance and power to increase the capacity of trade and industry which in turn cause to create business opportunities and provide the path of economic growth, therefore this study has suggested to spend much time and efforts on R&D not only to update the trade strategies and macroeconomic policies but to improve the supply chain system also in the regions.
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