Question

Write a summary on chapter “International Trade” in your own words ONLY. 700 Words

Answer 1

We can divide international trade as follows

:1)International trade before the Renaissance: The trade before the Renaissance was mainly related to the agricultural sector and the main center of its trade was around the Indian Ocean.The Roman emperor, the Ottoman Empire, was traded in the Indian Ocean with India, with China and with Malay Peninsula, Sri Lanka, etc. and with African countries.These regions contribute a lot to the GDP and prosperity of the world.

after the Renaissance and before the Industrial revolilution:After the Renaissance period, various sea routes were discovered and trade with countries in other regions of the world also started, in which the invention of steam engine was known as a major revolution and thus the Indian Ocean countries on trade Not dominated . During this era, where colonialism began in the world, in which Portuguese Sweden was French England, who discovered the sea route, along with India in their respective colonies Indian Ocean Region, Malay Peninsula, Sri Lanka, African countries, america Start with. At this time, the trade of spices under the main trade, the trade of cotton silk and other agricultural related products started moving from the area to European countries.At this time, the installation of direction indicator device and trade with the movement of Indian monsoon would also facilitate

from the Industrial Revolution to and after liberalization:Industrial Revolution which was started by the UK country of Europe. He gave new dimensions to the trade and these countries became importers of raw materials and exporters of finished goods and cheap goods from Indian Ocean regions and other colonial countries, which led to their prosperity and other countries which were colonies suffered because Their domestic market failed.

The slave trade was also done to cultivate tea and coffee rubber plantations. To trade tea coffee rubber plantations, slaves were also traded, under which slaves traded from Africa and from Indian region by the British, Spanish, Portuguese etc.

On the trade of this world some of the main countries like European and American were domination.

post-liberalization:After the establishment of WTO and GATE, the process of liberalization started in the world. Under it, the rules of trade were simplified which led to the liberalization of trade along various dimensions in which technical, skill, capital was main.With the integration of the global economy, privatization and liberalization reform was main in encouraging globalization.Liberalization of trade began to appear in bilateral and multilateral trade agreements such as safta, nafta, rcep, free trade agreements.At this time various dimensions were added to the trade of goods and services, that is.. E-commerce has also given new dimensions to this business in which Amazon, alibaba etc are main giant.

After Covidisation period :

After Kovid-19, the role of protectionism in trade on the world stage is seen to be predominant, which seems to have already started, which was started by big countries like US China.The main reason for this is to secure the domestic market. In addition to providing jobs to the citizens of our country and controlling the jobs being snatched by foreign people.

Kovid-19 has witnessed a worldwide increase in trade as the lockdown and social distancing established by Kovid-19 prompted countries to cease their trade activities and other economic activities.