A study of the challenges faced in the industrialization of the Smaller Pacific Island countries and territories; established import markets
Abstract
The economic reality is that some nations are emerging and developing whilst others have achieved a comparable level of development and industrialization. The benefits of international trade, globalization, and interconnectivity of nations allow the purchase of supplementary goods and services from other economies. With time, markets are created and established for the export and import that facilitates this supplementary consumption. On the basis of innovation, research, and advancement, a majority of the export is done by the economies that have made advances in technology, industrialization, and factories. Thus the Developing and emerging nations' markets serve as an income source for developing nations which then introduces the problem of matching the level of their industrialization with their counterparts. The article provides insights into the role of the level of industrialization within the Smaller Pacific Island countries and territories. It also provides theoretical conclusions on the impact of industrialization on the established markets.
How to Cite This Article
Michael Yemoh, Vicky Yemoh (2022). A study of the challenges faced in the industrialization of the Smaller Pacific Island countries and territories; established import markets . International Journal of Multidisciplinary Research and Growth Evaluation (IJMRGE), 3(4), 310-313.