Trade and globalisation

In this entry we analysis available data and research on international trade patterns including the determination and consequences of globalisation last couple of decades.From a historical perception their has been two waves of globalisation .The first wave starts from 19th century ,cames to an end with an beginning of the first world war .Trade transaction includes both goods and services (tangible product that are physically shipped )and the services (intangible commoditys,such as tourism and financial services ). The production chains for these goods and services are becoming increasingly complex and global. According to recent estimate ,about 30% of the value of global exports comes from foreign input.Globalisation includes 4 main factors.Free flow of capital.Free flow of technology.Free flow of goods and services.Free flow of finance.Today trade is a fundamental part economic activity everywhere.In today ‘s global economic system,country exchange not only financial products ,but also intermediate input. This creates an intricate network of economic interaction that covers whole world.

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