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An unequal relationship exists between primary and secondary producers in global industry. How does this imbalance affect countries' development?Key facts
- Poorer countries of the world provide wealthy countries with resources and raw materials at a low price.
- Wealthy countries refine raw material and produce higher value goods that are sold on for profit.
- A trade deficit occurs as a result of a country importing a higher value of goods than they export.
- A trade surplus occurs as a result of a country exporting a higher value of goods than they import.
Transcript
We might not give it a lot of thought at the supermarket, but many of the fruits, vegetables, and goods we buy can be traced back to the world's impoverished areas.
No one country has the full range of raw materials it needs to make every product it uses.
So, in …
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