International Trade; aimed at improving economies through export trade and import trade; further it improves the B.O.P of countries.
Emerging trends under international trade include;
1. Globalization; carrying out trade globally / worldwide.
Aims; _ build economies especially of the L.D.Cs by the DCs
_supplement shortages in terms of goods and services
_create political cooperation between countries
2. Economic intergration: is the coming together of different countries with common interest purposefully to trade in order to improve the B.O.Ps of their members e.g. ECOWAS, PTA etc.
Aims: _ expand trade
_Expand the markets
_Develop infrastructures e.g. roads, communication networks e.t.c
Export processing zones
Development of strategic approaches to economic growth and development e.g.
- Millennium development goals to achieve universal growth and development through their implementation and accomplishment
- Economic recovery strategies e.g. 2002 NARC government ERSP i.e. it outlines the path to economic growth through specific strategies
- 2030 vision paper; developed to help us achieve a middle-based economy by the year 2030
- Kazi Kwa vijana programmes to create employment opportunities for the youths.
- AGOA summits & its goals towards achieving development in Africa generally e.t.c.
Development planning – the government draws up development plans (i.e. short-term, middle-term &long-term plans aimed at directing the economy towards achieving economic growth and development through their formulation and implementation.
Labour movements/Trade unions; establishment of workers unions/organizations aimed at improving the working environment &welfare of workers for the betterment of their standards of living.
Industrialization strategies; these are aimed at achieving industrialized economies especially by the LDCs e.g. EPs (Export promotion strategies) &ISS (import substitution strategy)
Population control measures aimed at attaining optimum population for efficient &effective utilization of resources in order to obtain optimum output e.g. the adoption of family planning measures e.t.c
Education/training programmes; these have been tailored towards science &technology based programs to match world-economic changing trends& requirements in production.
Manpower planning; aimed at solving the problems of labour shortages & supplies. This is an important measure towards solving unemployment &development of irrelevant skills in the labourforce
Switch from subsistence production to market-oriented production accompanied with the adoption of irrigated agriculture rather than rained agriculture.
Credit facilities programs; aimed at availing finance to potential investors &entrepreneurs to invest in economic activities. In Kenya, the government has created various financial kitties e.g. youth enterprise development funds, women development funds e.t.c
