International Trade and Globalization: Theories and Impacts

Posted by on Jan 20, 2025 in Agricultural Engineering | 0 comments

Globalization and International Trade

Globalization is the process of social, political, economic, cultural, and technological integration among countries worldwide. Several regulatory associations exist, including the WTO, NAFTA, FTAA, EFTA, ASEAN, and Mercosur.

World Trade Organization (WTO)

The WTO is a rule-based organization with negotiated agreements that:

  1. Cover goods, services, and intellectual property.
  2. Spell out the principles of liberalization and permitted exceptions.
  3. Include individual countries’
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