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Brief Review on International Trade

Journal: International Journal of Mechanical and Production Engineering Research and Development (IJMPERD ) (Vol.10, No. 3)

Publication Date:

Authors : ; ;

Page : 9369-9376

Keywords : Competition Market; Economic Growth; Emerging Market Economies; International Trade; Investment;

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In a country economy and the global economy, foreign trade is a crucial factor. In general, trade barriers in foreign policy are toughest to enforce, but they play a major role in the business sector and their rival's International trade has significantly contributed to the global economic system. The International Trade Policy has influenced many countries in the world to pursue international economic policies encouraging greater trade and investment. Economic policies were introduced in the Emerging Market Economies (EME).BRIC's acronym means that the leaders of these emerging-market economies are Brazil, Russia, India and China. The growth and prosperity of these countries was underpinned by international trade. This report offers facts and figures on foreign trade activities and how their rise and development in emerging market economies are promoted. Several foreign trade hypotheses have been used to justify these trade practices. This includes Heckscher-Ohlin, Rechardian and Foreign trade gravity models. The researchers criticize emerging-market economies for these great positions played by foreign trade and make practical recommendations to them. Most markets today are dominated by big corporations and sometimes controlled. Others are the only (monopoly) supplier or in general one of the few (oligopoly) suppliers not only on a regional level but also on a global level. In Western Europe, the development of capitalism and its beginnings during the 19th century is generally attributed to the expansion of free trade and free markets.

Last modified: 2020-11-18 19:03:31