international trade

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international trade

the sale or exchange of goods and services between countries. According to the law of comparative advantage, proposed by the 19th-century political economist Ricardo, a country will ideally produce only those goods and services in the production of which it possesses such advantage that it can produce these more cheaply than other producers. In theory at least, therefore, the international division of labour that results should benefit all nations. However, the extent to which each country benefits depends on the favourableness or otherwise of the TERMS OF TRADE which operate for the commodities and services which it imports and exports. Thus, in recent years many developing nations have experienced adverse and often worsening terms of trade, especially as a result of declining relative prices for food and agricultural raw materials in situations where, in the short run at least, they are unable to shift their output to other areas of production. See DEPENDENCY THEORY, UNEQUAL EXCHANGE, IMPERIALISM.

International Trade

 

the aggregate of the foreign trade of the different countries of the world. International trade arose with the birth of the world market (16th to 18th centuries) and the international division of labor. The development of international trade is closely bound up with the establishment of the capitalist method of production.

References in periodicals archive ?
SAP SE today announced that independent analyst firm ARC Advisory Group has positioned SAP as the market leader in global trade management systems.
17 /PRNewswire/ -- Integration Point(TM) announced that it is first to market with a real time global trade management(TM) (Real Time GTM (TM)) solution.
Management Dynamics, a leading provider of global trade management solutions, today announced that Ingersoll Rand Company Limited (NYSE:IR), a leading diversified industrial company, has launched a worldwide deployment of Management Dynamics' Global Trade Compliance solution suite.
To complement the powerful and flexible global trade management capabilities of Oracle Global Trade Management 6.
Global Trade Platform Enables Consumer Electronics Retailer to Optimize Cash Flow and Facilitate Growth
Global Trade Platform and SourceView[TM] Suite will Automate Processes, Reduce Transaction Costs and Extend Supply Chain Visibility
Management Dynamics, a leading provider of global trade management solutions, today announced that it has appointed Narasimhan "Paddy" Padmanabhan to the role of Chief Executive Officer of its wholly-owned subsidiary, Management Dynamics India, Ltd.
New Global Trade Management Solution from Kewill TradePoint Allows Carriers Real-time Access to Clearance Status to Ensure Timely and Compliant Border Crossing
TradeCard supports global trade transactions for more than 2000 members, reaching suppliers in over 40 countries and speaking 32 languages.
Management Dynamics, a leading provider of global trade management solutions, today announced that its president and CEO, Jim Preuninger, has been named as a "Provider Pro" in the "2006 Pros to Know" listing by Supply & Demand Chain Executive Magazine, a leading supply chain solutions magazine.
The Global Trade Management (GTM) solutions market grew to about $222 million in 2005.
E[acute accent]Management Dynamics, a leading provider of global trade management solutions, today announced that its customer, Haworth Inc.

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