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This document discusses the "vent-for-surplus" theory of international trade. It explains that this theory, developed by economists like Professor Williams, provides an explanation for how colonial underdeveloped countries entered foreign trade by exporting surpluses. Specifically: 1) These countries often had unused resources or surpluses of commodities like primary products after satisfying domestic demand. 2) Exporting these surpluses provided an "outlet" or "vent" for unused resources, increasing the

Author

carolsaviapeters

Language

EN