Question

How would you characterize the major international trade flows unfolding in today’s global economy???

Answer 1

The characteristics of major international trade flows in today's economy perspective are multi-lateral agreement and based on mutual needs,  with equal or better terms where the each economy gives due consideration to other economies. Here, goods with lower labor cost, is supplied from developing nations and goods having high end technology is provided by the developed countries. Now, most of the economies in the world, understand the benefits and flaws of the international trade and what should be done to maximize the benefits of the international trade. It makes them bring regulatory framework in place so that international trade works, but without exploitation. It is the characteristic of today's international trade flows. Further, international trade flow has become more strategic in nature where the partners become international allies as well at different international platforms such as WTO, so that their best interests are jointly taken care off. It is also a characteristic of international trade flow, these days.