International Trade

Introduction

This research paper is based on International Trade. International trade involves the study of trade in goods and services between nations. The globalization process that integrates the world in the economic, political and cultural life has been a favorable environment for the expansion of international trade, with increasing participation of the different economies and economic actors in the global market. Thus, the world becomes the object of study of international trade professionals. Trade between nations has implications for decisions of the different actors involved in it, as the state that in order to achieve economic development and welfare of the population, an economic policy designed in the field of trade, exchange, fiscal, monetary and other, so the theoretical aspects which justify the exchange between nations and the design of trade policy become the basic foundation that guides the study of International Trade (Oatley, pp. 15-20).

Throughout history, nations have aimed to control the flow of trade through tariffs and other restrictions. By the second half of the 20th century, however, industrialized nations began to reduce trade barriers in order to increase foreign trade and cooperation. The U.S. has been at the forefront of that movement. During the 1990s, the U.S. pushed for expanded free trade across the globe, and free trade spread worldwide as economists and policy makers touted the benefits of globalization. In 1995, that trend led to the formation of an international organization, the World Trade Organization (WTO), which aims to reduce barriers to free trade around the world.

Discussion and Analysis

International trade policy is a government order to maximize their own interests, to promote their rapid economic development, achieve equitable distribution of national income taken to restrict or to encourage free-trade policies. Theories of international trade and liberalization of international trade policy have long been dominated; however, this is a world in which implementation of free trade policies have not been implemented yet. Most of them are to take all the trade restrictions or protectionist policies. Theories of international trade and liberalization of international trade policy have long been dominated; however, this is a world in which implementation of free trade policies have not been implemented yet. Most of them are to take all the trade restrictions or protectionist policies.

When it occurs across national borders, trade serves to create international economic ties. As a result, international trade statistics provide some of the best data available about the actual economic ...