International Trade and Globalisation

International trade has an important share in GDP in different countries. The increase of international trade over the years has been a result of the globalization process. Globalization refers to the interdependence between countries arising from the integration of different aspects of the economy, such as trade. International trade can stimulate economic growth of countries that are now so interconnected. Currently, globalization cannot be ignored by businesses, due to the opportunities offered by foreign markets

International Trade and Globalisation

Dr. Charles Smith

Anforme Ltdger

2010

Abstract

'International Trade and Globalisation' and further consideration was given to the role of globalisation in modern economic activity. With respect to trade, if not with respect to power politics and militarism, this phenomenon now appears to be rather less synonymous with 'Americanisation', and must now take account of the remarkable developments taking place elsewhere, in countries like China and India. While the world moves on rapidly, it also moves in great circles.This book has chapters about: What is international trade. Why does trade take place? What is happening to the UK balance of payments? How is trade affected by demand-side policy? How is trade affected by supply-side policy? Why are exchange rates important? Should Britain join the 'euro'? Globalisation: what is it ? Globalisation: who needs it ? What are the choices in trade policy? Free trade 'good', protection 'bad'? Globalisation and inward investment: false friends? Why are some countries in debt? Why is trade better than a id ? Industry and environment: market forces or government action? Why is everyone talking about China? The credit crunch and world recession: what happened? Where are we going? in Chapter 11 referring to the economic collapse of the so-called 'Tiger' economies in 1997. the Credit Crunch of 2008 and the ensuing recession, according to some politicians and economists came from nowhere, was unprecedented, and totally unexpected. It affected large economies like the USA, medium sized economies like the UK, small countries like Iceland, and even shook the 'Celtic Tiger' of Ireland to its very foundations. A brief stroll round the average supermarket is enough to convince even the most casual observer that society is becoming more and more internationalised. Products that just ten or fifteen years ago were unheard of in this country are now commonplace. Items that once were expensive luxuries are now regarded as basic necessities.

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Dr. Charles Smith, International Trade and Globalisation, Anforme Ltd, 2010

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