Examine the impact of global trading patterns on one developing economy you have studied. - Leaving Cert Geography - Question 8B - 2020

One significant impact of global trading patterns on Brazil has been trade liberalization. Brazil has dramatically reduced tariffs and engaged in numerous trade agreements, leading to increased foreign investment and trade volumes.

Trade liberalization has facilitated Brazil's access to international markets, promoting exports of agricultural products like soybeans and coffee. This has improved Brazil's economic standing. However, it has also exposed local industries to foreign competition, leading to challenges for small businesses.

Moreover, the influx of foreign investment has driven growth in sectors such as technology and manufacturing, leading to job creation. Yet, the reliance on commodities can make Brazil vulnerable to global price fluctuations.

In addition, increased competition from imports has sometimes resulted in trade imbalances. Therefore, while trade liberalization has generally been beneficial, its impacts are mixed and need careful management to ensure sustained development.