Problem Description

The author emphasizes the changes in the global economy and global trade due to a more
integrated economy. The author explores the changes in the global economy and their effects on
the international trade scene. He mentioned that the integration of low-income and middle-
income economies has resulted in a shift in terms of international trade. This phenomenon has
been examined by comparing and analyzing the growth and trade between developing countries
(South-South) and developed countries developing countries (North-South) to the growth and
trade in developed countries (North-North). He uses China and India's (booming economies
during the span of the study) economies to examine these changes. He pointed out that low and
middle-income countries have gained the power to dictate the movement, flow, and changes in
terms of production and distribution of trade gains across trading countries.

Conclusion
The research result showed that the inclusion of low and middle-income economies in the global
economy has resulted in changes and transitions in production, distribution, and international
trade. It includes global export and import, supply, and trade growth. By analyzing China and
Indian economies, the author observed that the aggressive/rapid growth of these countries and
other low and middle countries combined have dominated and out-performs those high-
performing countries such as the US, European Union, and Japan. The GDP and annual growth
of these low and middle-income countries have massively increased. The study also gave
emphasis on the comparative advantage which tackles different ways in which these countries
boost their economic capabilities. Specialization was the most evident. Significant information
gaps regarding the fundamental empirical drivers of export specialization, the dynamics of
specialization patterns, and the differences between South-South and North-North trade are
revealed by the development of low- and middle-income nations in trade.

Critique
The paper was relevant, especially today when trade and other related activities have rapidly
progressed and shown significant growth over the years. The author has achieved his goal in
making the paper where he wanted to examine how the inclusion of low- and middle-income
nations has affected changes in international commerce. The paper clearly states terminologies
that are relevant to the study and it has shown data that supports its claims. Moreover, the author
has given his thoughts about the rise of emerging economies by observing and examining the
economic situation in China and India. All in all the paper has achieved its main goal, though it
successfully fulfilled its goal, upon reading it we’ve also seen the limitation of the study.

Future research that is interesting to study in this area would help in understanding the
emergence of a low-middle-income economy. A study exploring export specialization would be
great for it will explain how different countries with low to high-income economies uses their
own specialization in terms of trade. A study that will reveal and have a comparative analysis of
why and how South-South trade differs from North-North trade. Lastly, A study exploring the
effects of emergence in the standard of living in a low and middle-income economy. For it will
also explore the microeconomics and social situation inside a low and middle-income country.

PROS
 The paper was qualitative based research, which provides accuracy to its results.
 Insightful, the author has given relevant points and ideas about the different topics and
aspects that are relevant to the study. 
Explored the return of comparative advantage and explained international specialization 
 Supported by credible related studies. 
CONS
 The research methodology and the research limitations were not clearly identified by the
author.
 The significance of the study was not clearly elaborated and explained.
 The author proceeds with the effects of the emerging market on global trade without
defining what an emerging market is. The author assumed that it is already known what it
is.