1 Answers
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<li>Increased economic growth: International trade allows countries to specialize in the production of goods and services in which they have a comparative advantage, leading to increased efficiency and productivity. This can result in higher economic growth for the country.</li>
<li>Access to a wider market: International trade allows countries to access a larger market for their goods and services, which can lead to increased sales and profits for businesses.</li>
<li>Greater competition: International trade exposes domestic firms to competition from foreign companies, which can drive innovation and improve the overall efficiency and competitiveness of the domestic economy.</li>
<li>Increased cultural exchange: International trade can also lead to increased cultural exchange as people from different countries interact with each other through business and travel. This can lead to increased understanding and cooperation between countries.</li>
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