 So, in last few lectures, we have seen how trade has affected developing countries. And there was a thesis that trade has affected developing countries in a negative way. And it has proved to be beneficial for the developed countries. But is it okay that developing countries can survive without trade? No. Obviously. Trade has some important role to play, and it has played an important role to the development of developing countries. Like according to Hebbler, trade can lead to the full utilization of domestic resources. Principally, what we have seen so far has been established, and currently we can see that developing countries are producing more agricultural goods. And here, one thing that trade facilitates to developing countries is that it provides a big market. The concept of microeconomics is the production possibility frontier. And there, if there is any country production in the production possibility frontier, that means it comes under the utilization of resources. So, trade is providing larger markets and then efficient use of domestic resources. So, full utilization of resources, either in the form of capital, either in the form of labor. So, the countries can produce for themselves and for the rest of the world. So, first point, that trade is facilitating developing countries in capturing new markets where they can produce goods and services at a larger scale and send them to those countries. Further, this is linked to the idea of economies of scale. We have learned about that, that when you produce more production, produce on a large scale, then countries get economies there, or they are saved. So, what do developing countries do? When they produce on a larger scale, then in that case, they can properly divide labor in the production of goods and services. And the efficient labor for a production of a certain commodity will be used in that place. And the skills for other commodities will be produced there. So, here it can be said that because of trade, because developing countries are able to produce on a large scale, then you have economies of scale coming to developing countries. Next point is new ideas, new technology and new managerial and other skills. Now interestingly, if we talk about the last 6 to 7 decades, particularly after World War II, then one thing is seen on the world level that you have technology that has been transformed from developed countries to developing countries. And ultimately, it has helped developing countries to grow faster. Here, many cases will be seen, if we talk about Asian countries, then multiple cases are there like India, China, Malaysia, Indonesia, Taiwan, Hong Kong. So, there are many countries who have increased their skills, efficiency over the period of time with the help of technology. And by structure, this world level is well acknowledged. And it is understood that all the research innovations are mostly in developing countries. You can see this as an example. If you look at a simple scale, then you can see the world top universities. From where you have students graduating and ultimately in the line of research, they are doing new innovations through research. You will mostly get that in developing countries. So, there is a transformation of skills. When through trade, we had an idea from the tariff factory, that particularly we talked about Europe, how Europe developed over the period of time. And then through Europe, we talked about U.S.C. development. So, in the same way, when new production units are needed, technology transfers from developing countries to developing countries. So, there you have improved the skills of labour. You get the opportunity to work with a better skilled worker. So, you can learn a lot from him. In the same way, the concept of through trade, the tariff factories, plays a very prominent role for the development. If we look at it presently, then many developing countries are making special economic zones. Or they are giving facilities through which developed countries come to developing countries and invest. And along with that investment, there is a movement of capital, from developed to developing countries. So, there you have a lot of positive externalities, other than you have investment and capital. There, your economic indicators start getting better. So, if you talk about the classical cases of developing countries, you will see that the role of foreign direct investment is in the development of India and China. Interestingly, there is the largest recipient. Or you can say that where the most productive comes, the most productive, these two countries will see you. So, in this way, you get investment, capital comes from developed country to developing country, so that even in this case, developed countries come interestingly for their benefit, because they get cheap labor, they get tax rebates. But along with that, developing countries also help. And they also get a significant positive impact in the form of employment generation, in the form of technology transfer, in the form of capital movement, revenue generation. So, a lot of positive things come to developing countries. And then, what we were talking about is monopoly. Monopoly is a situation where you have a supplier, who exploits the market because he is a single supplier or producer for a certain commodity. But if trade comes, and trade obviously is a movement of goods from one place to another place, one country to another country. For that reasons, you get a lot of help in breaking the domestic monopolies. When the producer knows that he has to face a competition, not from the domestic market, but from the rest of the world, then he will also go towards efficiency, he will also go towards innovations. So, a positive impact comes. A healthy environment is created. So, in this case, developing countries have better utilization of resources there. Obviously, what we have developed over the period of time, which has a lot of negative aspects, in which we have discussed that agriculture, the sector, its demand, supply-side factors, have a lot of effect on developing countries. And because of that, growth is not possible. And particularly, developing countries, you will get something like that in the last 3-4 decades, which cannot grow properly. And if growth is being done, then it is not in the real sense. That we had a difference between economic growth and economic development. So, economic growth may be there, but economic development has no speed in certain developing countries. But still, some positive aspects that we have discussed in the form of technology, in the form of economies of scale, in the form of skills, cannot be seen. And in this case, the best example of China will come to you, which has transformed from a big agriculture country to an all-together heavy industrial base. And interestingly, in the last 4-5 decades, they are taking the highest growth rate in the world. And their economy is growing very fast. So, in a nutshell, we can say that it is not always the case that trade has hurt developing countries. Obviously, developing countries have grown in the last few years, and trade has been a main facilitator for certain countries. In which, if China's example is there, it will be very prominent for you.