In
most countries, it represents a significant share
of GDP. While international trade has been present
throughout much of history (see Silk Road, Amber Road),
its economic, social, and political importance has
been on the rise in recent centuries. Industrialization,
advanced transportation, globalization, multinational
corporations, and outsourcing are all having a major
impact. Increasing international trade is the usually
primary meaning of "globalization". International
trade is also a branch of economics, which, together
with international finance, forms the larger branch
of international economics.
Traditionally trade was regulated through bilateral
treaties between two nations. For centuries under
the belief in Mercantilism most nations had high tariffs
and many restrictions on international trade. In the
19th century, especially in Britain, a belief in free
trade became paramount and this view has dominated
thinking among western nations for most of the time
since then. In the years since the Second World War
multilateral treaties like the GATT and World Trade
Organization have attempted to create a globally regulated
trade structure. |
|
Welcome...
Download Programs Here!
