The world exchange

The world exchange

The world exchange


International trade, an activity that promotes the exchange of goods, services, capital and technologies between countries, is today the most representative component of the world’s wealth and power.
International trade began to show its true dimension with the appearance of the Nation-States (the beginning of today’s countries) in the 17th century, consolidating in the 18th and 19th centuries, since the rulers agreed that by promoting it they could increase the wealth and, therefore, the power of their nation against that of other nations. During the 20th century, trade grew to the point of becoming the most important resource in the world economy. It can be said, then, that the growing interdependence of trade between countries will continue in the 21st century and that due to the tendency to create regional economic blocs, some countries will be more dependent than others.
…. Finally, the importance that international trade has achieved in the fulfillment of its scope has had, has and will have permanent and profound repercussions on the international relations of countries in the economic, financial, commercial, political and social fields of the entire planet.

Teorías del comercio internacional pdf

Arizio, O. P., & Curioni, A. O. (2014). Intercambio mundial y regional de especias en términos de valor, 1992-2011. Revista Colombiana De Ciencias Hortícolas, 8(1), 142-154.
Asociación Americana de Comercio de Especias (ASTA). 2011. Guía de la Asociación Americana de Comercio de Especias. En:; consulta: julio de 2013.
Organización Internacional de Asociaciones de Comercio de Especias. 2013. Directrices generales de buenas prácticas agrícolas sobre especias y hierbas culinarias. En IOSTA,; consulta: julio de 2013.

International trade

International trade involves the purchase, sale or exchange of goods and services in different currencies and forms of payment. These exchanges between different countries or different geographical areas have been increasing thanks to trade liberalization and the elimination of tariff and non-tariff barriers.
Economies that participate in international trade are known as open economies. Open economies are those regions or nations whose trade is open to the outside world. This means that they buy goods and services from abroad (imports) and sell goods and services outside their borders (exports).
Within open economies there are different degrees of protectionism. Those whose tariffs are lower are closer to free trade. On the contrary, those that impose high tariffs are known as protectionist.
The opposite of open economies are closed economies. Closed economies do not trade with the outside world and therefore do not participate in international trade. An example of a closed economy is autarky. It ensures that foreign trade is minimal and, of course, does not import anything (it is self-sufficient).

Advantages of international trade

However, in many other countries, particularly in Africa and the Middle East, progress has not been as rapid. The poorest have lost a substantial share in world trade and risk being further marginalized if they do not reduce their own barriers. This is the case for about 75 developing and transition economies, including almost all the least developed countries. Unlike those that have successfully integrated, these countries are disproportionately dependent on the production and export of traditional commodities. The reasons for this marginalization are complex and include deep-seated structural problems, weak institutions and policy frameworks, and internal and external protectionist structures.
Often, those most favored by trade liberalization are the poor. The generous implicit subsidies provided by trade protection – in many cases to limited privileged interests – have no place in developing countries. Moreover, the stimulus to growth provided by trade openness usually increases the income of the poor by about the same proportion as that of the population as a whole6. New jobs are created for unskilled workers, allowing them to join the middle class. Overall, the inequality gap between countries has been narrowing since 1990 thanks to faster economic growth in developing countries, one of the products of trade liberalization7.

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