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Reasons for Industrial Change
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LEDC’s have begun to play a dominant part in world markets due to good access to raw materials and the ability to charge less for products.
People in LEDC’s are willing to work for less money so industries are able to charge less for their products. Large multinational companies, many from MEDCs, have now begun to locate their industries in LEDC’s for the same reasons as above and this has ensured that the gap between MEDC’s and LEDC’s in terms of development has remained consistent.
