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Encyclopedia > Trade policy
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Trade is the voluntary exchange of goods, services, or both. Trade is also called commerce. A mechanism that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and services. Modern traders instead generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade. Image File history File links Please see the file description page for further information. ... This article or section does not cite any references or sources. ... Trade usually refers to economic exchange See also Fair trade (disambiguation) Trade can refer to non-economic exchange, or to a sequence of equivalent actions, such as trading blows Trade can refer to a particular occupation or profession (for example: trade fair or trade school) It can refer to the... Image File history File links Download high resolution version (536x800, 131 KB) subject:Store in Paris photographer:unknown licence: marked libres des droits on French site and fr. ... Image File history File links Download high resolution version (536x800, 131 KB) subject:Store in Paris photographer:unknown licence: marked libres des droits on French site and fr. ... Good (accounting) - Wikipedia /**/ @import /skins-1. ... Wikibooks has more about this subject: Marketing In economics and marketing, a service is the non-material equivalent of a good. ... This article or section does not cite any references or sources. ... Look up Market in Wiktionary, the free dictionary. ... Barter is a type of trade that do not use any medium of exchange, in which goods or services are exchanged for other goods and/or services. ... This article needs additional references or sources to facilitate its verification. ... In classical economics and all micro-economics labour is one of three factors of production, the others being land and capital. ...


Trade exists for many reasons. Due to specialisation and division of labor, most people concentrate on a small aspect of production, trading for other products. Trade exists between regions because different regions have a comparative advantage in the production of some tradable commodity, or because different regions' size allows for the benefits of mass production. As such, trade at market prices between locations benefits both locations. In economics, the theory of comparative advantage explains why it can be beneficial for two parties (countries, regions, individuals and so on) to trade if one has a lower relative cost of producing some good. ... Mass production is the production of large amounts of standardised products on production lines. ... Market price is an economic concept with commonplace familiarity; it is the price that a good or service is offered at, or will fetch, in the marketplace; it is of interest mainly in the study of microeconomics. ...


Trading can also refer to the action performed by traders and other market agents in the financial markets. In finance, a trader is someone who buys and sells financial instruments such as stocks, bonds and derivatives. ... In finance, financial markets facilitate: The raising of capital (in the capital markets); The transfer of risk (in the derivatives markets); and International trade (in the currency markets). ...

Contents

History of trade

Main articles: History of trade and Trade route

Trade originated with the start of communication in prehistoric times. Trading was the main facility of prehistoric people, who bartered goods and services from each other when there was no such thing as the modern day currency. Peter Watson dates the history of long-distance commerce from circa 150,000 years ago.[1] Look up Trade in Wiktionary, the free dictionary Trade centers on the exchange of goods and/or services. ... A trade route is the sequence of pathways and stopping places used for the commercial transport of cargo. ... The history of communication dates back to the earliest signs of life. ... Prehistory (Greek words προ = before and ιστορία = history) is the period of human history prior to the advent of writing (which marks the beginning of recorded history). ... Peter Watson is a business writer and intellectual historian from London, England. ... The history of international trade chronicles the way that the flow of trade over long distances has shaped, and been shaped by history. ... Look up Circa on Wiktionary, the free dictionary The Latin word circa, literally meaning about, is often used to describe various dates (often birth and death dates) that are uncertain. ...


Trade is believed to have taken place throughout much of recorded human history. There is evidence of the exchange of obsidian and flint during the stone age. Materials used for creating jewelry were traded with Egypt since 3000 BC. Long-range trade routes first appeared in the 3rd millennium BC, when Sumerians in Mesopotamia traded with the Harappan civilization of the Indus Valley. The Phoenicians were noted sea traders, travelling across the Mediterranean Sea, and as far north as Britain for sources of tin to manufacture bronze. For this purpose they established trade colonies the Greeks called emporia. Trading is important to the global economy From the beginning of Greek civilization until the fall of the Roman empire in the 5th century, a financially lucrative trade brought valuable spice to Europe from the far east, including China. Roman commerce allowed their empire to flourish and endure. Their widespread empire produced a stable and secure transportation network that enabled the shipment of trade goods without fear of significant piracy. Obsidian from Lake County, Oregon Counterclockwise from top: obsidian, pumice and rhyolite (light color) Obsidian is a rock which is a type of naturally occurring glass, produced by volcanoes (igneous origin) when a felsic lava cools rapidly and freezes without sufficient time for crystal growth (see glass transition temperature). ... A flint nodule from the Onondaga limestone layer, Buffalo, New York. ... Stone Age fishing hook. ... Jewelry (the American spelling; spelled jewellery in Commonwealth English) consists of ornamental devices worn by persons, typically made with gems and precious metals. ... (31st century BC - 30th century BC - 29th century BC - other centuries) (4th millennium BC - 3rd millennium BC - 2nd millennium BC) Events 2925 - 2776 BC - First Dynasty wars in Egypt 2900 BC - Beginning of the Early Dynastic Period I in Mesopotamia. ... The 3rd millennium BC spans the Early to Middle Bronze Age. ... Sumer (or Shumer, Sumeria, Shinar, native ki-en-gir) formed the southern part of Mesopotamia from the time of settlement by the Sumerians until the time of Babylonia. ... Mesopotamia refers to the region now occupied by modern Iraq, and parts of eastern Syria, southeastern Turkey, and southwest Iran. ... Excavated ruins of Mohenjo-daro. ... Satellite image of the Indus River basin. ... Phoenicia was an ancient civilization in the north of ancient Canaan, with its heartland along the coastal plain of what is now Lebanon and Syria. ... Composite satellite image of the Mediterranean Sea. ... General Name, Symbol, Number tin, Sn, 50 Chemical series poor metals Group, Period, Block 14, 5, p Appearance silvery lustrous gray Standard atomic weight 118. ... Assorted ancient Bronze castings found as part of a cache, probably intended for recycling. ... Emporia was an Ancient Greek term relating to the various Phoenician city-states and trade outposts in Northern Africa. ... Cities are a major hallmark of human civilization. ... Motto Senatus Populusque Romanus (SPQR) The Roman Empire at its greatest extent. ... Europe in 450 The 5th century is the period from 401 - 500 in accordance with the Julian calendar in the Christian Era. ... For other uses, see Spice (disambiguation). ... Roman commerce was the engine that drove the growth of the Roman Empire. ... The flag of 18th-century pirate Calico Jack Piracy is a robbery committed at sea, or sometimes on the shore, by an agent without a commission from a sovereign nation. ...


The fall of the Roman empire, and the succeeding Dark Ages brought instability to Western Europe and a near collapse of the trade network. Nevertheless some trade did occur. For instance, Radhanites were a medieval guild or group (the precise meaning of the word is lost to history) of Jewish merchants who traded between the Christians in Europe and the Muslims of the Near East. Petrarch, who conceived the idea of a European Dark Age. From Cycle of Famous Men and Women, Andrea di Bartolo di Bargillac, c. ... The borders of Western Europe were largely defined by the Cold War. ...     The Radhanites (also Radanites, Hebrew sing. ... For other uses, see Jew (disambiguation). ... This article or section does not cite any references or sources. ... World map showing the location of Europe. ... There is also a collection of Hadith called Sahih Muslim A Muslim (Arabic: مسلم, Persian: Mosalman or Mosalmon Urdu: مسلمان, Turkish: Müslüman, Albanian: Mysliman, Bosnian: Musliman) is an adherent of the religion of Islam. ... The Near East is a term commonly used by archaeologists, geographers and historians, less commonly by journalists and commentators, to refer to the region encompassing the Levant (modern Israel, Jordan, Syria and Lebanon), Turkey, Mesopotamia (Iraq and eastern Syria). ...


From the 8th to the 11th century, the Vikings and Varangians traded as they sailed from and to Scandinavia. Vikings sailed to Western Europe, while Varangians to Russia. The Hanseatic League was an alliance of trading cities that maintained a trade monopoly over most of Northern Europe and the Baltic, between the 13th and 17th centuries. (7th century — 8th century — 9th century — other centuries) Events The Iberian peninsula is taken by Arab and Berber Muslims, thus ending the Visigothic rule, and starting almost 8 centuries of Muslim presence there. ... As a means of recording the passage of time, the 11th century was that century which lasted from 1001 to 1100. ... The term Viking commonly denotes the ship-born Norsemen (literally, men from the north) warriors and traders of who originated in Scandinavia and raided the coasts of the British Isles and mainland Europe as far east as the Volga River in Russia from the late 8th–11th century. ... Varangian Guardsmen, an illumination from the 11th century chronicle of John Skylitzes. ... Scandinavia is a historical and geographical region centered on the Scandinavian Peninsula in Northern Europe and includes the three kingdoms of Denmark, Norway and Sweden. ... Northern Europe is marked in dark blue Northern Europe is a name of the northern part of the European continent. ... Population density in the wider Baltic region. ...

The tales of Marco Polo's travels to the far east sparked an interest in the spice trade.

Vasco da Gama restarted the European Spice trade in 1498. Prior to his sailing around Africa, the flow of spice into Europe was controlled by Islamic powers, especially Egypt. The spice trade was of major economic importance and helped spur the Age of Exploration. Spices brought to Europe from distant lands were some of the most valuable commodities for their weight, sometimes rivaling gold. The two-dimensional work of art depicted in this image is in the public domain in the United States and in those countries with a copyright term of life of the author plus 100 years. ... The two-dimensional work of art depicted in this image is in the public domain in the United States and in those countries with a copyright term of life of the author plus 100 years. ... Marco Polo (September 15, 1254 – January 8, 1324) was a Venetian trader and explorer who gained fame for his worldwide travels, recorded in the book Il Milione (The Million or The Travels of Marco Polo). ... Vasco da Gama Dom Vasco da Gama, 1st count da Vidigueira (IPA: (Sines or Vidigueira, Alentejo, Portugal, ca. ... Spices at the central market of Agadir, Morocco in May 2005 The spice trade has been of major economic importance throughout human history and it particularly helped spur the Age of Exploration. ... 1498 was a common year starting on Saturday (see link for calendar) of the Gregorian calendar. ... A world map showing the continent of Africa Africa is the worlds second-largest and second most-populous continent, after Asia. ... The so-called Age of Exploration was a period from the early 15th century and continuing into the early 17th century, during which European ships were traveled around the world to search for new trading routes and partners to feed burgeoning capitalism in Europe. ... For other uses, see Spice (disambiguation). ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ...


In the 16th century, Holland was the centre of free trade, imposing no exchange controls, and advocating the free movement of goods. Holland is a region in the central-western part of the Netherlands with a population of 6. ... Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents or on the purchase/sale of local currency by nonresidents. ...


Trade in the East Indies was dominated by Portugal in the 16th century, the Netherlands in the 17th century, and the British in the 18th century. The Indies, on the display globe of the Field Museum, Chicago The Indies or East Indies (or East India) is a term used to describe lands of South and South-East Asia, occupying all of the former British India, the present Indian Union, Pakistan, Bangladesh, Myanmar, Sri Lanka, Maldives, and... (15th century - 16th century - 17th century - more centuries) As a means of recording the passage of time, the 16th century was that century which lasted from 1501 to 1600. ... (16th century - 17th century - 18th century - more centuries) As a means of recording the passage of time, the 17th century was that century which lasted from 1601-1700. ... (17th century - 18th century - 19th century - more centuries) As a means of recording the passage of time, the 18th century refers to the century that lasted from 1701 through 1800. ...


In 1776, Adam Smith published the paper An Inquiry into the Nature and Causes of the Wealth of Nations. It criticised Mercantilism, and argued that economic specialisation could benefit nations just as much as firms. Since the division of labour was restricted by the size of the market, he said that countries having access to larger markets would be able to divide labour more efficiently and thereby become more productive. Smith said that he considered all rationalisations of import and export controls "dupery", which hurt the trading nation at the expense of specific industries. Year 1776 (MDCCLXXVI) was a leap year starting on Monday (link will display the full calendar) of the Gregorian calendar (or a leap year starting on Thursday of the 11-day slower Julian calendar). ... Adam Smith FRSE (baptised June 5, 1723 O.S. / June 16 N.S. – July 17, 1790) was a Scottish moral philosopher and a pioneering political economist. ... An Inquiry into the Nature and Causes of the Wealth of Nations is the magnum opus of Adam Smith, published in 1776. ... A painting of a French seaport from 1638, at the height of mercantilism. ... Economics (deriving from the Greek words οίκω [okos], house, and νέμω [nemo], rules hence household management) is the social science that studies the allocation of scarce resources to satisfy unlimited wants. ... Specialization is an important way to generate propositional knowledge, by applying general knowledge, such as the theory of gravity, to specific instances, such as when I release this apple, it will fall to the floor. Specialization is the opposite of generalization. ... Division of labour is the specialisation of cooperative labour in specific, circumscribed tasks and roles, intended to increase efficiency of output. ...


In 1799, the Dutch East India Company, formerly the world's largest company, became bankrupt, partly due to the rise of competitive free trade. 1799 was a common year starting on Tuesday (see link for calendar). ... This article needs additional references or sources to facilitate its verification. ... Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. ...


In 1817, David Ricardo, James Mill and Robert Torrens showed that free trade might benefit the industrially weak as well as the strong, in the famous theory of comparative advantage. In Principles of Political Economy and Taxation Ricardo advanced the doctrine still considered the most counterintuitive in economics: 1817 was a common year starting on Wednesday (see link for calendar). ... David Ricardo (18th April, 1772–11th September, 1823), a political economist, is often credited with systematizing economics, and was one of the most influential of the classical economists, along with Thomas Malthus and Adam Smith. ... James Mill James Mill (April 6, 1773 - June 23, 1836), Scottish historian, economist and philosopher, was born at Northwater Bridge, in the parish of Logie-Pert, Angus, Scotland, the son of James Mill, a shoemaker. ... Sir Robert Richard Torrens (1814 – 1884) was an Australian politician and one of the earliest Premiers of South Australia. ... In economics, the theory of comparative advantage explains why it can be beneficial for two parties (countries, regions, individuals and so on) to trade if one has a lower relative cost of producing some good. ... Principles of Political Economy and Taxation is the title of a book by David Ricardo on ecomonics. ... This article needs additional references or sources for verification. ...

When an inefficient producer sends the merchandise it produces best to a country able to produce it more efficiently, both countries benefit.

The ascendancy of free trade was primarily based on national advantage in the mid 19th century. That is, the calculation made was whether it was in any particular country's self-interest to open its borders to imports. Alternative meaning: Nineteenth Century (periodical) (18th century — 19th century — 20th century — more centuries) As a means of recording the passage of time, the 19th century was that century which lasted from 1801-1900 in the sense of the Gregorian calendar. ...


John Stuart Mill proved that a country with monopoly pricing power on the international market could manipulate the terms of trade through maintaining tariffs, and that the response to this might be reciprocity in trade policy. Ricardo and others had suggested this earlier. This was taken as evidence against the universal doctrine of free trade, as it was believed that more of the economic surplus of trade would accrue to a country following reciprocal, rather than completely free, trade policies. John Stuart Mill (20th May 1806 – 8th May 1873), a British philosopher and political economist, was an influential liberal thinker of the 19th century. ... A monopoly (from the Greek language monos, one + polein, to sell) is defined as a persistent market situation where there is only one provider of a product or service, in other words a firm that has no competitors in its industry. ... A tariff is a tax on foreign goods. ... This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... The term surplus is used in economics for several related quantities. ...


This was followed within a few years by the infant industry scenario developed by Mill anticipated New Trade Theory by promoting the theory that government had the "duty" to protect young industries, although only for a time necessary for them to develop full capacity. This became the policy in many countries attempting to industrialise and out-compete English exporters. The infant industry argument is an economic reason for protectionism. ... This article does not cite any references or sources. ... Protectionism is the economic policy of restraining trade between nations, through methods such as high tariffs on imported goods, restrictive quotas, a variety of restrictive government regulations designed to discourage imports, and anti-dumping laws in an attempt to protect domestic industries in a particular nation from foreign take-over... Industrialisation (or industrialization) or an industrial revolution (in general, with lowercase letters) is a process of social and economic change whereby a human society is transformed from a pre-industrial to an industrial state . ... Motto (French) God and my right Anthem God Save the Queen England() – on the European continent() – in the United Kingdom() Capital (and largest city) London (de facto) Official languages English (de facto) Unified  -  by Athelstan 967 AD  Area  -  Total 130,395 km²  50,346 sq mi  Population  -  2007 estimate 50...


The Great Depression was a major economic recession that ran from 1929 to the late 1930s. During this period, there was a great drop in trade and other economic indicators. The Great Depression was a time of economic down turn, which started after the stock market crash on October 29, 1929, known as Black Tuesday. ... Year 1929 (MCMXXIX) was a common year starting on Tuesday (link will display the full calendar) of the Gregorian calendar. ...


The lack of free trade was considered by many as a principal cause of the depression. Only during the World War II the recession ended in United States. Also during the war, in 1944, 44 countries signed the Bretton Woods Agreement, intended to prevent national trade barriers, to avoid depressions. It set up rules and institutions to regulate the international political economy: the International Monetary Fund and the International Bank for Reconstruction and Development (later divided into the World Bank and Bank for International Settlements). These organisations became operational in 1946 after enough countries ratified the agreement. In 1947, 23 countries agreed to the General Agreement on Tariffs and Trade to promote free trade. Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... 1944 (MCMXLIV) was a leap year starting on Saturday. ... 1947 (MCMXLVII) was a common year starting on Wednesday (the link is to a full 1947 calendar). ... The General Agreement on Tariffs and Trade (typically abbreviated GATT) was originally created by the Bretton Woods Conference as part of a larger plan for economic recovery after World War II. The GATTs main purpose was to reduce barriers to international trade. ...


Free trade advanced further in the late 20th century and early 2000s: (19th century - 20th century - 21st century - more centuries) Decades: 1900s 1910s 1920s 1930s 1940s 1950s 1960s 1970s 1980s 1990s As a means of recording the passage of time, the 20th century was that century which lasted from 1901–2000 in the sense of the Gregorian calendar (1900–1999... The 2000s are the current decade, spanning from 2000 to 2009. ...

Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ... Good (accounting) - Wikipedia /**/ @import /skins-1. ... In classical economics and all micro-economics labour is a measure of the work done by human beings and is one of three factors of production, the others being land and capital. ... January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by United Nations. ... Nafta or NAFTA may refer to: an acronym for the North American Free Trade Agreement an acronym for the New Zealand Australia Free Trade Agreement the town/Tokyo of Nafta, Tunisia This is a disambiguation page: a list of articles associated with the same title. ... 1994 (MCMXCIV) was a common year starting on Saturday of the Gregorian calendar, and was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by United Nations. ... The Marrakesh Agreement, signed in Marrakech, Morocco, on April 15, 1994, established the World Trade Organization, which came into being upon its entry into force on January 1, 1995. ... January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... Year 1995 (MCMXCV) was a common year starting on Sunday (link will display full 1995 Gregorian calendar). ... This article does not cite any references or sources. ... Free trade is an economic concept referring to the selling of products between countries without tariffs or other trade barriers. ... Most favoured nation (MFN), also called normal trade relations in the United States, is a status accorded by one nation to another in international trade. ... The Central American Free Trade Agreement (CAFTA) is a free trade agreement between the United States and the Central American countries of Guatemala, Honduras, and Canada, and Mexico. ...

Development of money

Main article: History of money The history of money is a story spanning thousands of years. ...


The first instances of money were objects with intrinsic value. This is called commodity money and includes any commonly-available commodity that has intrinsic value; historical examples include pigs, rare seashells, whale's teeth, and (often) cattle. In medieval Iraq, bread was used as an early form of money. In Mexico under Montezuma cocoa beans were money. [1] Commodity money is money whose value comes from a commodity out of which it is made. ... Montezuma is the name of a mythological deity, as well as the common English spelling of the name of two Aztec emperors. ...

Currency was introduced as a standardised money to facilitate a wider exchange of goods and services. This first stage of currency, where metals were used to represent stored value, and symbols to represent commodities, formed the basis of trade in the Fertile Crescent for over 1500 years. Maximinus denarius that I scanned. ... Maximinus denarius that I scanned. ... Ancient Rome was a civilization that grew from a small agricultural community founded on the Italian Peninsula circa the 9th century BC to a massive empire straddling the Mediterranean Sea. ... First row : c. ... This article needs additional references or sources to facilitate its verification. ...


Numismatists have examples of coins from the earliest large-scale societies, although these were initially unmarked lumps of precious metal.[2] This article needs cleanup. ... A gold nugget A precious metal is a rare metallic chemical element of high economic value. ...


Ancient Sparta minted coins from iron to discourage its citizens from engaging in foreign trade. This article is about monetary coins. ...


The system of commodity money in many instances evolved into a system of representative money. In this system, the material that constitutes the money itself had very little intrinsic value, but none the less such money achieves significant market value through scarcity or controlled supply. Representative money refers to money that consists of a token or certificate that can be exchanged for a fixed quantity of a commodity such as gold, silver or potentially water, oil or food. ...


See also

Saran Seker Silent Trade is a method by which people with no common language could barter goods. ...

Look up Trade in
Wiktionary, the free dictionary.

Roman commerce was the engine that drove the growth of the Roman Empire. ... The Silk Road (Traditional Chinese: 絲綢之路; Simplified Chinese: 丝绸之路; pinyin: sī chóu zhī lù) was an interconnected series of routes through Southern Asia traversed by caravan and ocean vessel, and connecting Changan, China with Antioch, Syria, as well as other... The Amber Road (in Lithuanian: Gintaro kelias; Polish: Szlak Bursztynowy, Jantarowy Szlak; in German: Bernsteinstraße; in Hungarian: Borostyán út, in Russian: Янтарный путь) was an ancient trade route for the transfer of amber. ... A trade route is the sequence of pathways and stopping places used for the commercial transport of cargo. ... This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... An Alberta fur trader in the 1890s. ... Stockfish Cod has been an important economic commodity in an international market since the Viking period (around 1000 AC). ... For other uses, see Bank (disambiguation). ... The history of international trade chronicles the way that the flow of trade over long distances has shaped, and been shaped by history. ... A joint stock company is a special kind of partnership. ... The British East India Company, sometimes referred to as John Company, was the first joint-stock company (the Dutch East India Company was the first to issue public stock). ... Ivan IV of Russia demonstrates his treasures to the English ambassador (1875) Muscovy Company (also called Russian Company or Muscovy Trading Company, Polish Kompania Moskiewska, Russian: Московская компания), was a trading company chartered in 1555. ... The 1606 grants by James I to the London and Plymouth companies. ... The Hudsons Bay Company (HBC; Compagnie de la Baie dHudson in French) is the oldest commercial corporation in North America and is one of the oldest in the world. ... A painting of a French seaport from 1638, at the height of mercantilism. ... A Watt steam engine. ... The Second Industrial Revolution (1865–1900) is a phrase used by some historians to describe an assumed second phase of the Industrial Revolution. ... Capitalism generally refers to an economic system in which the means of production are mostly privately[1] owned and operated for profit, and in which investments, distribution, income, production and pricing of goods and services are determined through the operation of a free market. ... It has been suggested that Benign colonialism be merged into this article or section. ... Neo Colonialism is the belife that former colonies of European powers have never recieved economic freedom from their former rulers. ... The word commodity has a different meaning in business than in Marxian political economy. ... In marketing, a product is anything that can be offered to a market that might satisfy a want or need (Kotler et al. ... For the 2006 film, see Intellectual Property (film). ... Electronic commerce, EC, e-commerce or ecommerce consists primarily of the distributing, buying, selling, marketing, and servicing of products or services over electronic systems such as the Internet and other computer networks. ... A KFC franchise in Kuwait. ... Wikipedia does not have an article with this exact name. ... Wiktionary (a portmanteau of wiki and dictionary) is a multilingual, Web-based project to create a free content dictionary, available in over 150 languages. ...

Current trends

Doha rounds

Main article: Doha round

The Doha round of World Trade Organization negotiations aims to lower barriers to trade around the world, with a focus on making trade fairer for developing countries. Talks have been hung over a divide between the rich, developed countries, and the major developing countries (represented by the G20). Agricultural subsidies are the most significant issue upon which agreement has been hardest to negotiate. By contrast, there was much agreement on trade facilitation and capacity building. The Doha Development Round of World Trade Organization negotiations aims to lower trade barriers around the world, permitting free trade between countries of varying prosperity. ... This article does not cite any references or sources. ... A trade barrier is general term that describes any government policy or regulation that restricts international trade, the barriers can take many forms, including: Import duties Import licenses Export licenses Quotas Tariffs Subsidies Non-tariff barriers to trade Most trade barriers work on the same principle: the imposition of some... Certified Fair trade quinoa producers in Ecuador. ... A developing country is a country with low average income compared to the world average. ... A developed country is a country that has achieved (currently or historically) a high degree of industrialization, and which enjoys the higher standards of living which wealth and technology make possible. ... G20 has several possible meanings: G20 developing nations, a trade bloc of 20 countries. ... An agricultural subsidy is a governmental subsidy paid to farmers to supplement their income, help manage the supply of agricultural commodities, and bolster the market price of commodities. ... Trade facilitation looks at how procedures and controls governing the movement of goods across national borders can be improved to reduce associated cost burdens and maximise efficiency while safeguarding legitimate regulatory objectives. ...


The Doha round began in Doha, Qatar, and negotiations have subsequently continued in: Cancún, Mexico; Geneva, Switzerland; and Paris, France and Hong Kong. Doha (Arabic: , transliteration: or ), population 400,051 (2005 census), is the capital of Qatar and is at , on the Persian Gulf. ... Giant Mexican flag in the Hotel Zone Cancún (pronounced can-koon) is a coastal city in Mexicos easternmost state, Quintana Roo. ... Geneva (pronunciation //; French: Genève //, German:   //, Italian: Ginevra //, Romansh: Genevra) is the second most populous city in Switzerland (after Zürich), and is the most populous city of Romandy (the French-speaking part of Switzerland). ... City flag City coat of arms Motto: Fluctuat nec mergitur (Latin: Tossed by the waves, she does not sink) Paris Eiffel tower as seen from the esplanade du Trocadéro. ...


China

Beginning around 1978, the government of the People's Republic of China (PRC) began an experiment in economic reform. Previously the Communist nation had employed the Soviet-style centrally planned economy, with limited results. They would now utilise a more market-oriented economy, particularly in the so-called Special Economic Zones located in the Guangdong, Fujian, and Hainan. This reform has been spectacularly successful. By 2004, the GDP of the nation has quadrupled since 1978 and foreign trade exceeded $1 trillion US. As of 2005, China had become the 3rd largest exporter behind Germany and the United States. This occurred in spite of the backlash from the shootings following Tiananmen Square protests of 1989. The PRC maintains a $29 billion trade surplus, and is rapidly becoming a leader in industrial manufacturing. Year 1978 (MCMLXXVIII) was a common year starting on Sunday (link displays the 1978 Gregorian calendar). ... This article is about communism as a form of society and as a political movement. ... State motto (Russian): Пролетарии всех стран, соединяйтесь! (Transliterated: Proletarii vsekh stran, soedinyaytes!) (Translated: Workers of the world, unite!) Capital Moscow Official language None; Russian (de facto) Government Federation of Soviet republics Area  - Total  - % water 1st before collapse 22,402,200 km² Approx. ... A planned economy is an economic system in which economic decisions are made by centralized planners, who determine what sorts of goods and services to produce, and how they are to be priced and allocated. ... A market economy is a term used to describe an economy where economic decisions, such as pricing of goods and services, are made in a decentralized manner by the economys participants and manifested by trade. ... A Special Economic Zone (SEZ) is a geographical region that has economic laws different from a countrys typical economic laws. ... Guangdong, often spelt as Kwangtung, is a province on the south coast of the Peoples Republic of China. ...   (Chinese: ; pinyin: ; Wade-Giles: Fu-chien; Postal map spelling: Fukien, Foukien; local transliteration Hokkien from Min Nan Hok-kiàn) is one of the provinces on the southeast coast of the Peoples Republic of China. ... This article does not cite its references or sources. ... shelby was here 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... The Tiananmen Square protests of 1989 were a series of demonstrations led by students, intellectuals, and labour activists in the Peoples Republic of China (PRC) between April 15, 1989 and June 4, 1989. ...


In 1991 the PRC joined the Asia-Pacific Economic Cooperation group, a free-trade organisation. More recently, in 2001 they also joined the World Trade Organization. Year 1991 (MCMXCI) was a common year starting on Tuesday (link will display the 1991 Gregorian calendar). ... The Asia-Pacific Economic Cooperation (APEC) is an economic forum for a group of Pacific Rim countries to discuss matters on regional economy, cooperation, trade and investment. ... Year 2001 (MMI) was a common year starting on Monday of the Gregorian calendar. ... This article does not cite any references or sources. ...


See also: Economy of the People's Republic of China The economy of the Peoples Republic of China is the fourth largest in the world when measured by nominal GDP. Its economic output for 2006 was $2. ...


International trade

Main article: International trade
Trade Series  v  d  e 
International trade
History of international trade
Free trade
Protectionism
Trade pact
Trade bloc
Preferential trading area
Free trade area
Customs union
Trade creation
Trade diversion
Monetary union
Common market
Economic and monetary union

International trade is the exchange of goods and services across national borders. In most countries, it represents a significant part of GDP. While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance have increased in recent centuries, mainly because of Industrialisation, advanced transportation, globalisation, multinational corporations, and outsourcing. In fact, it is probably the increasing prevalence of international trade that is usually meant by the term "globalisation". International trade is the exchange of goods and services across international boundaries or territories. ... International trade is the exchange of goods and services across international boundaries or territories. ... The history of international trade chronicles the way that the flow of trade over long distances has shaped, and been shaped by history. ... Free trade is an economic concept referring to the selling of products between countries without tariffs or other trade barriers. ... Protectionism is the economic policy of restraining trade between nations, through methods such as high tariffs on imported goods, restrictive quotas, a variety of restrictive government regulations designed to discourage imports, and anti-dumping laws in an attempt to protect domestic industries in a particular nation from foreign take-over... A trade pact is a wide ranging tax, tariff and trade pact that usually also includes investment guarantees. ... A trade bloc is a large free trade area or free trade area formed by one or more tax, tariff and trade agreements. ... Preferential Trade Area is a trading bloc which gives preferential access to certain products from certain countries. ... A free trade area is a designated group of countries that have agreed to eliminate tariffs, quotas and preferences on most (if not all) goods between them. ... A customs union is a free trade area with a Common External Tariff. ... Trade creation is an economic term related to international economics in which trade is created by the formation of a customs union. ... Trade diversion is an economic term related to international economics in which trade is diverted by the formation of a customs union. ... In economics, a monetary union is a situation where several countries have agreed to share a single currency (also known as a unitary or common currency) among them, for example, the East Caribbean dollar. ... A single market is a customs union with common policies on product regulation, and freedom of movement of all the four factors of production (land, enterprise, capital and labour). ... This article covers the general information on the topic. ... The Silk Road Silk Route redirects here. ... The Amber Road (in Lithuanian: Gintaro kelias; Polish: Szlak Bursztynowy, Jantarowy Szlak; in German: Bernsteinstraße; in Hungarian: Borostyán út, in Russian: Янтарный путь) was an ancient trade route for the transfer of amber. ... Industrialisation (or industrialization) or an industrial revolution (in general, with lowercase letters) is a process of social and economic change whereby a human society is transformed from a pre-industrial to an industrial state . ... A KFC franchise in Kuwait. ... A multinational corporation (MNC) is a corporation or enterprise that manages production establishments or delivers services in at least two countries. ... Outsourcing became part of the business lexicon during the 1980s and often refers to the delegation of non-core operations from internal production to an external entity specializing in the management of that operation. ...


Empirical evidence for the success of trade can be seen in the contrast between countries such as South Korea, which adopted a policy of export-oriented industrialisation, and India, which historically had a more closed policy (although it has begun to open its economy, as of 2005). South Korea has done much better by economic criteria than India over the past fifty years, though its success also has to do with effective state institutions. Export-oriented Industrialization is a trade and economic policy aiming to speed-up the industrialization process of a country through exporting goods for which the nation has a comparative advantage. ... 2005 is a common year starting on Saturday of the Gregorian calendar. ... This article needs additional references or sources for verification. ...


Trade sanctions against a specific country are sometimes imposed, in order to punish that country for some action. An embargo, a severe form of externally imposed isolation, is a blockade of all trade by one country on another. For example, the United States has had an embargo against Cuba for over 40 years. Trade sanctions are trade penalties imposed by one or more countries on one or more other countries. ... For delayed access after publication, see Embargo (academic publishing). ... Billboards carrying messages attacking the United States government (this one compares it with fascism) can be seen all over Cuba. ...


Although there are usually few trade restrictions within countries, international trade is usually regulated by governmental quotas and restrictions, and often taxed by tariffs. Tariffs are usually on imports, but sometimes countries may impose export tariffs or subsidies. All of these are called trade barriers. If a government removes all trade barriers, a condition of free trade exists. A government that implements a protectionist policy establishes trade barriers. A tariff is a tax on foreign goods. ... In economics, a subsidy is generally a monetary grant given by a government to lower the price faced by producers or consumers of a good, generally because it is considered to be in the public interest. ... A trade barrier is general term that describes any government policy or regulation that restricts international trade, the barriers can take many forms, including: Import duties Import licenses Export licenses Quotas Tariffs Subsidies Non-tariff barriers to trade Most trade barriers work on the same principle: the imposition of some... Free trade is an economic concept referring to the selling of products between countries without tariffs or other trade barriers. ... Protectionism is the economic policy of restraining trade between nations, through methods such as high tariffs on imported goods, restrictive quotas, a variety of restrictive government regulations designed to discourage imports, and anti-dumping laws in an attempt to protect domestic industries in a particular nation from foreign take-over...


The fair trade movement, also known as the trade justice movement, promotes the use of labour, environmental and social standards for the production of commodities, particularly those exported from the Third and Second Worlds to the First World. Manual labour (or manual labor) is physical work done with the hands, especially in an unskilled job such as fruit and vegetable picking, road building, or any other field where the work may be considered physically arduous, and which has as a profitable objective, usually the production of goods. ... The environmental movement (a term that sometimes includes the conservation and green movements) is a diverse scientific, social, and political movement. ... Although the term social is a crucial category in social science and often used in public discourse, its meaning is often vague, suggesting that it is a fuzzy concept. ... The word commodity has a different meaning in business than in Marxian political economy. ... For the Jamaican reggae band, see Third World (band). ... A map of countries often considered to have made up the Second World from the 1950s through the 1980s. ... The terms First World, Second World, and Third World were used to divide the nations of Earth into three broad categories. ...

Leading IMPORTERS in world trade
in merchandise, data from WTO, 2004
Rank Country Value
bn US$
Share % annual %
change
1  United States 1525,5 16,1 17
2  Germany 716,9 7,6 19
3  China 561,2 5,9 36
4  France 465,5 4,9 17
5  United Kingdom 463,5 4,9 18
6  Japan 454,5 4,8 19
7  Italy 351,0 3,7 18
8  Netherlands 319,3 3,4 21
9  Belgium 285,5 3,0 22
10  Canada 279,8 2,9 14
Leading EXPORTERS in world trade
in merchandise, data from WTO, 2004
Rank Country Value
bn US$
Share % annual %
change
1  Germany 912,3 10,0 21
2  United States 818,8 8,9 13
3  China 593,3 6,5 35
4  Japan 565,8 6,2 20
5  France 448,7 4,9 14
6  Netherlands 358,2 3,9 21
7  Italy 349,2 3,8 17
8  United Kingdom 346,9 3,8 13
9  Canada 316,5 3,5 16
10  Belgium 306,5 3,3 20

Standards may be voluntarily adhered to by importing firms, or enforced by governments through a combination of employment and commercial law. Proposed and practiced fair trade policies vary widely, ranging from the commonly adhered to prohibition of goods made using slave labour to minimum price support schemes such as those for coffee in the 1980s. Non-governmental organizations also play a role in promoting fair trade standards by serving as independent monitors of compliance with fairtrade labelling requirements. For other uses of the initials WTO, see WTO (disambiguation). ... Image File history File links No higher resolution available. ... Image File history File links Flag_of_Germany. ... Image File history File links Flag_of_the_Peoples_Republic_of_China. ... Image File history File links This is a lossless scalable vector image. ... Image File history File links Flag_of_the_United_Kingdom. ... Image File history File links Flag_of_Japan. ... Image File history File links Flag_of_Italy. ... Image File history File links Flag_of_the_Netherlands. ... Image File history File links Flag_of_Belgium_(civil). ... Image File history File links Flag_of_Canada. ... For other uses of the initials WTO, see WTO (disambiguation). ... Image File history File links Flag_of_Germany. ... Image File history File links No higher resolution available. ... Image File history File links Flag_of_the_Peoples_Republic_of_China. ... Image File history File links Flag_of_Japan. ... Image File history File links This is a lossless scalable vector image. ... Image File history File links Flag_of_the_Netherlands. ... Image File history File links Flag_of_Italy. ... Image File history File links Flag_of_the_United_Kingdom. ... Image File history File links Flag_of_Canada. ... Image File history File links Flag_of_Belgium_(civil). ... Employment law is the branch of the law that deals with employment related issues. ... Commercial law or business law is the body of law which governs business and commerce and is often considered to be a branch of civil law and deals both with issues of private law and public law. ... A good in economics is any physical object (natural or man-made) or service that, upon consumption, increases utility, and therefore can be sold at a price in a market. ... Slavery is any of a number of related conditions involving control of a person against his or her will, enforced by violence or other clear forms of coercion. ... In economics, a price support may be either a subsidy or a price control, both with the intended effect of keeping the market price of a good higher than the competitive equilibrium level. ... The term non-governmental organization (NGO) is used in a variety of ways all over the world and, depending on the context in which it is used, can refer to many different types of organizations. ... International Fairtrade Certification Mark Fairtrade labelling (usually simply Fairtrade or Fair Trade Certified in the United States) is a product certification system designed to allow consumers to identify products (especially agricultural products such as coffee) which meet agreed standards. ...


Organisation of trade

Patterns of organising and administering trade include:

A state is a political association with effective dominion over a geographic area. ... A tariff is a tax placed on imported and/or exported goods, sometimes called a customs duty. ... For the 2006 film, see Intellectual Property (film). ... In economics, dumping can refer to any kind of predatory pricing, and is by most definitions a form of price discrimination. ... A guild is an association of craftspeople in a particular trade. ... Plato is credited with the inception of academia: the body of knowledge, its development and transmission across generations. ... Look up engineer in Wiktionary, the free dictionary. ... A lawyer, according to Blacks Law Dictionary, is a person learned in the law; as an attorney, counsel or solicitor; a person licensed to practice law. ... For the band, see The Police. ... The Doctor by Luke Fildes This article is about the term physician, one type of doctor; for other uses of the word doctor see Doctor. ... This article or section does not cite any references or sources. ... A degree is any of a wide range of awards made by institutions of higher education, such as universities, normally as the result of successfully completing a program of study. ... To license or grant license is to give permission. ... Free Enterprise is am economic system characterized by private or corporate ownership of capital goods; investments that are determined by private decision rather than by state control; and determined in a free market. ... For other uses, see Bank (disambiguation). ... A stock market is a market for the trading of company stock, and derivatives of same; both of these are securities listed on a stock exchange as well as those only traded privately. ... By the mid 20th century humans had achieved a mastery of technology sufficient to leave the surface of the Earth for the first time and explore space. ... This article or section cites very few or no references or sources. ... A vending machine is a machine that provides various snacks, beverages and other products to consumers. ...

International organisations

The European Community (EC), most important of three European Communities, was originally founded on March 25, 1957 by the signing of the Treaty of Rome under the name of European Economic Community. ... General Agreement on Tariffs and Trade (usually abbreviated GATT) functions as the foundation of the WTO trading system, and remains in force, although the 1995 Agreement contains an updated version of it to replace the original 1947 one. ... The General Agreement on Tariffs and Trade (typically abbreviated GATT) was originally created by the Bretton Woods Conference as part of a larger plan for economic recovery after World War II. The GATTs main purpose was to reduce barriers to international trade. ... The Group of Eight (G8) is an international forum for the governments of Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States. ... This article needs additional references or sources to facilitate its verification. ... OPEC Logo The Organization of the Petroleum Exporting Countries (OPEC) is an international organization made up of Iraq, Indonesia, Iran, Kuwait, Libya, Angola, Algeria, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. ...

Free trade areas

Free trade is an economic concept referring to the selling of products between countries without tariffs or other trade barriers. ... A free trade area is a designated group of countries that have agreed to eliminate tariffs, quotas and preferences on most (if not all) goods between them. ... The European Free Trade Association (EFTA) was established on May 3, 1960 as an alternative for European states that were not allowed or did not wish to join the European Community (now the European Union). ... This article or section needs to be updated. ... Nafta or NAFTA may refer to: an acronym for the North American Free Trade Agreement an acronym for the New Zealand Australia Free Trade Agreement the town/Tokyo of Nafta, Tunisia This is a disambiguation page: a list of articles associated with the same title. ... Pro Tempore Secretariat Brasília Official languages 4 Spanish Portuguese English Dutch Member states 12 Argentina Bolivia Brazil Chile Colombia Ecuador Guyana Paraguay Peru Suriname Uruguay Venezuela Leaders  -  President Rodrigo Borja  -  Tempore Secretary Jorge Taunay Filho Formation  -  Cuzco Declaration 8 December 2004  Area  -  Total 17,715,335 km² (1st2)  sq...

United Nations umbrella

The United Nations Conference on Trade and Development (UNCTAD) was established in 1963 as a permanent intergovernmental body, UNCTAD is the principal organ of the United Nations General Assembly dealing with trade, investment and development issues. ... This article does not cite any references or sources. ... The International Trade Centre (ITC) is the technical cooperation agency of the United Nations Conference on Trade and Development (UNCTAD) and the World Trade Organization (WTO) for operational, enterprise-oriented aspects of trade development. ...

Types of trade

The word commodity has a different meaning in business than in Marxian political economy. ... This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... International trade is the exchange of goods and services across international boundaries or territories. ... The arms industry is a massive global industry. ... Wholesaling consists of the sale of goods/merchandise to retailers, to industrial, commercial, institutional, or other professional business users or to other wholesalers and related subordinated services. ... A drawing of a self-service store Retailing consists of the sale of goods/merchandise for personal or household consumption either from a fixed location such as a department store or kiosk, or away from a fixed location and related subordinated services (Definition of the WTO (last page). ... Certified Fair trade quinoa producers in Ecuador. ...

Support for trade

The tower of a personal computer. ... Electronic commerce, EC, e-commerce or ecommerce consists primarily of the distributing, buying, selling, marketing, and servicing of products or services over electronic systems such as the Internet and other computer networks. ... Google search is the worlds most popular search engine. ... Critical infrastructure is a term used in the USAs National Strategy for Homeland Security, which was issued in July 2002; it is defined as those systems and assets, whether physical or virtual, so vital to the United States that the incapacity or destruction of such systems and assets would... It has been suggested that Accounting scholarship be merged into this article or section. ... For other uses, see Bank (disambiguation). ... Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ... Public services is a term usually used to mean services provided by government to its citizens, either directly (through the public sector) or by financing private provision of services. ... For the band, see The Police. ... A British pillar box The postal system is a system by which written documents typically enclosed in envelopes, and also small packages containing other matter, are delivered to destinations around the world. ... A public utility is a company that maintains the infrastructure for a public service. ... This article or section includes a list of works cited or a list of external links, but its sources remain unclear because it lacks in-text citations. ... A Samsung fax machine Fax (short for facsimile, from Latin fac simile, make similar, i. ... Moscow phone book, 1930. ... Look up translate in Wiktionary, the free dictionary. ... A highway is a major road within a city, or linking several cities together. ... This is the top-level page of WikiProject trains Rail tracks Rail transport refers to the land transport of passengers and goods along railways or railroads. ... A container ship // “Water transport” redirects here. ...

See also

Look up trade in
Wiktionary, the free dictionary.

Notes

  1. ^ Watson, Peter (2005). Ideas : A History of Thought and Invention from Fire to Freud. HarperCollins. ISBN 0-06-621064-X.  Introduction.
  2. ^ Gold was an especially common form of early money, as described in Origins of Money and of Banking Davies, Glyn (2002). Ideas : A history of money from ancient times to the present day. University of Wales Press. ISBN 0-7083-1717-0. 

GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ...

References

External links


  Results from FactBites:
 
Review 6: Trade Protection in the United States (832 words)
President Carter observed that the policy influence of special interest lobbies in the United States is almost unbelievable and he argued that ultimately "something will have to be done to control the influence of the special interests" (p.88).
Trade protectionism redistributes income away from consumers toward special producer interests and this can be viewed as a violation of the basic economic freedom of citizens.
It debunks common myths associated with trade policy and does a nice job of explaining the powers of and incentives facing Congress, the presidency, and the federal bureaucracy, and their role in trade policy formation.
WTO | Trade policy review - Norway 2004 (414 words)
Norway’s trade policy regime remains generally open with the principal exception of agriculture where high tariffs contrast with an almost duty free regime for industrial goods, according to a report on the trade policies and practices of Norway released on October 13 by the WTO Secretariat.
The WTO report, along with a policy statement by the Government of Norway, will be the basis for the fourth Trade Policy Review (TPR) of Norway by the Trade Policy Review Body of the WTO on 11 and 13 October 2004.
Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries’ trade and related policies are examined and evaluated at regular intervals.
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