Assess The Benefits Of Outward-Oriented Policy

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In order for a country to have a sound GDP and economic growth they must participate in free trade such as outward-oriented policies unlike inward-oriented policies that can hinder a countries success. Outward-oriented polices help “promote integration with the world economy” while inward-oriented polices “aim to raise living standards by avoiding interaction with other countries.” Outward-oriented policies are beneficial to a countries economic growth due to the fact their exports will be higher or equal to their amount of imports creating a surplus of net exports. When a country decides to open their economy, it allows for them to develop competitive advantages in manufacturing products used around the word allowing for their exports to

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