The Vax 101 was truly innovative for its time and became the best-selling vacuum cleaner in the UK in less than 8 years.
After cleaning up the UK market, Vax started to take its business overseas.
Before you export your products, you need to check for any changes to regulatory or commercial requirements.
All your feedback is used by our Product Designers to create even better products for you.The notion that foreign aid increases economic performance and generates economic growth is based on Chenery and Strout's Dual Gap Model(Isse 129).Chenerya and Strout (1966) claimed that foreign aid promotes development by adding to domestic savings as well as to foreign exchange availability, this helping to close either the savings-investment gap or the export-import gap. Carol Lancaster defines foreign aid as "a voluntary transfer of public resources, from a government to another independent government, to an NGO, or to an international organization (such as the World Bank or the UN Development Program) with at least a 25 percent grant element, one goal of which is to better the human condition in the country receiving the aid." Lancaster also states that for much of the period of her study (World War Two to the present) "foreign aid was used for four main purposes: diplomatic [including military/security and political interests abroad], developmental, humanitarian relief and commercial." Most official development assistance (ODA) comes from the 28 members of the Development Assistance Committee (DAC), or about 5 billion in 2013.The Development Assistance Committee of the Organisation for Economic Co-operation and Development defines its aid measure, Official Development Assistance (ODA), as follows: "ODA consists of flows to developing countries and multilateral institutions provided by official agencies, including state and local governments, or by their executive agencies, each transaction of which meets the following test: a) it is administered with the promotion of the economic development and welfare of developing countries as its main objective, and b) it is concessional in character and contains a grant element of at least 25% (calculated at a rate of discount of 10%)." (OECD, The DAC in Dates, 2006.Section, "1972".) Foreign aid has increased since 1950's and 1960's (Isse 129).