Final answer:
The form of exporting to less-developed countries is known as countertrade. This enables trade without the need for hard currency, allowing small economies to engage globally. Outsourcing by multinational corporations can lead to job shifts and economic changes.
Step-by-step explanation:
The form of exporting to less-developed countries is called countertrade. This practice involves non-monetary exchange of goods and services and is often used when traditional means of payment may be difficult. Countertrade allows less-developed countries to engage in international trade even when their financial resources are limited, facilitating mutual benefits without necessitating the exchange of hard currencies.
When considering the historical context, many low- and middle-income countries in the 1950s through to the 1970s held a negative view of global trade due to fears of exploitation by high-income countries and the potential loss of political control to multinational corporations. Despite such concerns, modern international trade can be beneficial for small economies. It enables them to achieve economies of scale by tapping into larger markets, thereby reducing costs and improving efficiency. Moreover, it fosters competition and provides consumers with more choices.
Additionally, it's important to note that the movement of multinational corporations to seek lower cost operations overseas, known as outsourcing, can lead to job losses in developed countries, as companies may close factories in these countries and open new ones in places with lower labor costs. An example of this is the shift of clothing manufacturing from the United States to China.