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| Description
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| After the 1970s, international trade including goods and services between countries,
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| experienced a notable growth. The volume of exchanged goods and services between nations is
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| taking significant part in the generation of wealth. By 2003, international trade was
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| accounting for about 15% of the global GDP, a twofold increase since 1950.
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| Enablers
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| The more flexible and embedded production systems encourages exchanges of commodities and
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| services.
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| Transport costs declined greatly due to the innovation processes and a growth of the
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| efficiency of modes and infrastructures. As a result, the transferability of commodities has
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| improved.
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| Integration processes such as the emergence of economic blocks and the decrease of tariffs
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| at a global scale, promoted trade. The higher the level of economic integration, the more
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| likely the concerned elements are to trade. The transactional capacity is consequently
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| facilitated with the development of transportation networks and the adjustment of trade
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| flows that follows increased integration.
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| Inhibitors
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| The fear of too specialized and unfairness of the local governments may lead them to legislate laws preventing international trade.
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| High tariffs, quotas, and other public policy interventions.
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| Paradigms
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| The World Trade Organization (WTO) operates with the broad goal of reducing or abolishing international trade barriers, which can largely increase the international trade.
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| Experts
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| Timing
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| Web sources
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| World Trade Organisation. (2004e). Understanding the WTO - members (http://www.wto.org/english/thewto_e/whatis_e/tif_e/org6_e.htm). Retrieved Dec 12, 2004.
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| General Articles on International Trade and Development: http://www.globalpolicy.org/socecon/trade/indexgen.htm
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| Globalization: http://www.itcilo.it/english/actrav/telearn/global/ilo/globe/new_page.htm#Trade
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