The impact of deteriorating TOT for LEDCs (HL only)

IB Economics: The impact of deteriorating TOT for LEDCs (HL only)

This lesson looks at the impact of a deteriorating terms of trade for LEDCs. Many non OPEC developing countries have suffered from a worsening of their terms of trade over several decades. Former Jamaican President, Michael Marley, described the situation affecting many developing nations as being akin to expect a person to "walk up the down escalator".How do changes in the long term terms of trade result in a global...

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