First, rising concerns that some developing countries, mainly in Africa and Latin America, which possessed some industrial production capacity relatively early may also have been adversely affected by imports of manufactured goods, including from low-wage economies (as shown in chart 4.4). An additional change in the nature of the trade-inequality relationship relates to the greater tendency to complement trade with financial integration. Financial integration may have a substantial effect on the exchange rate, which in turn can have an impact on a country’s trade performance.