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International trade (imports, exports), free capital flow, all this was stopped thanks to the serious conflicts between states during both wars. In the end of WWII politics try to prevent from mistakes made after WWI (fail of gold standard and enormous inflation), that is why in July 1944 in Bretton Woods (US) president F...
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Roosevelt with delegations from 44 countries discussed financial problems, which can occur after war. One of the decisions was to create two institutions: International Monetary Fund and World Bank. Nowadays institutions mentioned above, enormous human mobility, bank's international expansion and privatisation (all this started in early 90's) helped globalisation spread even more...
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Discuss the advantages and disadvantages, to the participating countries and the rest of the world, of forming a free trade arrangement. China, Japan and Korea are now undertaking preliminary research into the formation of a free trade area. Withi...
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Explain why the theory of comparative advantage is the basis for international trade (mutual benefit from trade).
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