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 ?
Before that, he spent two years as a Managing Director at Deutsche Bank, directing the firm's international trading desk, and prior to that, 10 years at ABN AMRO and its affiliates, first heading its Asian trading desk in Hong Kong and later its international trading desk in New York.
Xinjida is engaged in the international trading business concentrating primarily in chemical and medical industries.
Although we have our own international trading division now, our plan is to use both companies to create distribution channels worldwide and enhance both our domestic and international trading business.
Strongly endorsed and supported by Bank of China, China International Trading Committee and China Railroad Express and other organizations, Treasure Island Mall is becoming the brand and model for China's explosive e-commerce market.
These services allow eBay users to receive automated and customized answers to their international trading questions.
The newly established Arch International Trading (Shanghai) Company office will also oversee Arch Chemicals' existing office in Suzhou as well as other offices.
a company with more than 25 years of international trading experience and significant real estate holdings with more than $30 million U.
Through its solution and partnerships with recognized worldwide providers of trading services, vLinx automates all aspects of the international trading process.
We are disappointed by the North Dakota Wheat Commission's attempts to discredit a trading agency that has been proven time and again to be operating above board and within international trading rules," said Minister Pettigrew.
com trading platform ultimately will streamline the international trading process with China by providing a complete and comprehensive e-commerce solution.
NYSE:WWW) is bolstering its strong presence in the Japanese market with the appointment of International Trading Corporation as exclusive distributor for Harley-Davidson footwear in Japan.
As a result of the acquisition of Megahel and Mill-Agro, the new company will direct all of its resources toward international trading and shipping which has been the core business of the newly acquired companies.

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