The Following Are All Problems Faced by Developing Countries in Their

question 49

Multiple Choice

The following are all problems faced by developing countries in their business contract relationships with wealthier nations except:

• A) Lack of trained professionals to assist their governments in contract negotiations.
• B) Lack of natural resources to use as collateral for credit.
• C) Lack of economic bargaining power in dealing with more powerful multinationals.
• D) Lack of sophisticated legal mechanisms for dealing with contract disputes.

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Definitions:

Textile Products

Goods made by converting natural or synthetic fibers into yarn, which is then woven, knitted, or bonded to produce fabrics used in clothing, furnishings, and industrial applications.

Trade Restrictions

Government-imposed limitations on the free exchange of goods and services between countries, including tariffs, quotas, and embargoes, often to protect domestic industries.

American Employment

Refers to the state of having a job or occupation within the United States, often analyzed in terms of employment rates, job creation, and labor market trends.

Importation

The process of bringing goods or services into one country from another for the purpose of trade.