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The change in the mean value of labor is small with only 2.5% of annual growth rate. As for the trade volume, the mean values of both imports and exports jumped twofold, indicating Chinaâs increasing participation in international trade.
According to them developing countries, which have followed trade liberalization policies, have experienced all the favorable effects of globalization and international trade. China and India are regarded as the trend-setters in this case. There is no denying that international trade is beneficial for the countries involved in trade, if practiced properly. International trade opens up the opportunities of global market to the entrepreneurs of the developing nations.