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2. Discuss the origins of the debt crisis and explain why it is difficult for debtor
countries to service their debts. If it is so difficult to service debts fir these
countries, why did anybody lend to them in the first place?
3. Discuss the economic arguments for and against aid from the rich countries
to the poor countries. Be sure to include a discussion of the view that what is
needed is “trade, not aid” .
4. Use the theory of comparative advantage to explain why LDCs have been
particularly successful as exporters of textiles, clothing, and leather footwear.
