International Trade in USA

Technological advancements and innovations have been dictating the turn of the present modern civilization. The current setting at present upholds an environment that answers to the global needs of the world. Collectivism in the concept of global community has been the popular ideal for the last couple of years wherein development and progress of nations are becoming more and more dependent to each other. Internationalization of industries is now the current trend amongst business organizations in its aim to increase market share and accumulate larger profit.

However, this is not always the case especially among nations with poor living quality which at present cannot go hand in hand with the more economically progressive and developed nations. Countries living in the poverty line have long been exhausting means and resources to alleviate the living conditions of its people. Third world countries in particular have been in the hopes of gaining economic stability that will assure the future of the descendants of today’s population.

These nations at present place their stakes in the market entrance of foreign investors that provide capital for local business ventures that will employ the people in the locality. In the past decades, most especially after the Tsunami disaster and hitherto Dafur crisis, we have seen a new agitation and concern by the international communities to come to the aid of poverty striking communities and/or countries by increasing foreign aid and debt cancellation.

The aftermath of this disaster has brought to the fore the need for all the stakeholders in the globalized world to act to restore confidence and stability in the world system. International Trade is the business of buying and selling commodities beyond national borders. International trade is complex and cannot be explained as a simple preference for free trade or protectionism. International trade is defined as trade between two or more partners from different countries (an exporter and an importer).

Early international trade consisted mostly of barter transactions. International trade is also a branch of economics. Traditionally, international trade is justified in economics by comparative advantage theory. New developments include in patterns of international trade: the integration of countries into trade blocs (e. g. , European Union, NAFTA, EFTA, CEFTA) and globalization. International Trade Law Trade liberalization can be a positive sum game: everyone can gain.

The movement to lower trade barriers and open world trade has undoubtedly increased world growth in goods and services; it has increased incomes and raised standards of living globally, which doesn't mean, unfortunately, for each individual. Originally the globalization of trade involved, principally, trade in goods; but now we have an explosion of trade in services, telecommunications, financial services, computer and information technologies, creating industries and frequently better paid jobs of a nature and on a scale undreamt of twenty years ago which can benefit all workers internationally.