In: Economics
What are the main reasons for the rapid development of World Trade since the Second World War? In addition to the factors listed in this chapter, what do you add?
World trade has increased significantly after second world war. Second world war devastated world economies deeply. it was learning lesson for whole world. After world war 2, economic well beings were stressed upon and it was agreed upon, that welfare can be increased through trade and commerce. Competition would reduces prices and increase quantity produced. Following factors gave rise to world trade: