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International Trade and Development

The current consensus is that trade, development, and poverty reduction are intimately linked. Sustained economic growth over longer periods is associated with poverty reduction, while trade and growth are linked. Countries that develop invariably increase their integration with the global economy, while export-led growth has been a key part of many countries’ successful development strategies. The prudent use of trade can boost a country's development and create absolute gains for the trading partners involved. Trade has been touted as an important tool in the path to development by prominent economists.