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How has economic integration affected developing countries compared to developed countries?

Libbie Yankeev

Economic integration is when countries work together to do business and trade with each other. This can have different effects on developing countries (ones that are not as rich) compared to developed countries (ones that are very rich).

For developing countries, economic integration can be a good thing because it can bring in more money and opportunities. When they do business with other countries, they can sell their products and services to more people. This can also help them to create new jobs and grow their economies.

However, there are also some risks for developing countries with economic integration. Sometimes, bigger and richer countries can take advantage of them and make unfair deals. This can hurt the smaller country's economy and make it harder for them to compete.

For developed countries, economic integration can also have benefits and risks. Since they are already rich, doing business with other countries can help them to keep growing their economy. They can also get products and services that they might not be able to make themselves.

But there are also some risks for developed countries with economic integration. Sometimes, other countries can compete with them and take away their businesses. This can hurt the developed country's economy and make it harder for them to keep growing.

In general, economic integration can have good and bad effects on both developing countries and developed countries. It is important for countries to work together fairly and find ways to benefit everyone.