GMS 723 Chapter Notes - Chapter 1: World Trade Centers Association, World Trade Organization, International Monetary Fund
17 Oct 2013
School
Department
Course
Professor
Document Summary
International trade is the exchange of goods and services across national boundaries. Exports are the merchandise individuals or nations sell. Imports are the goods individuals or nations purchase. International trade is a game which everyone wins. Twentieth century have had significant effect on international trade. Globalization has brought on worldwide distribution, internet, satellite communications and speedy transportation. National governments have a large stake in its outcome because this change affects their societies. The need for harmonizing interstate laws to become more serious business must constantly adjust. 1975 chronic deficits of the history of american trade. Us is at or near the top of the list in merchandise trade and commercial services. America has the largest surpluses and deficits of any nation in the world. If you own or work for a manufacturer of an exportable product, your company can create and organize its own export department. Today, manufacturers outsource their functions to import/export companies.
