For me International trade is also a central driving force behind globalisation, a process of integration among countries and people. According to economic theory, as technological development drives down transaction costs (communication, transport), cross-border trade and investment will increase.
Globalization, a process of integrating nations and people, is also primarily driven by international trade. Economic theory predicts that cross-border trade and investment will rise as technological advancement lowers transaction costs (communication, transportation).
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Answer:
For me International trade is also a central driving force behind globalisation, a process of integration among countries and people. According to economic theory, as technological development drives down transaction costs (communication, transport), cross-border trade and investment will increase.
Answer:
Globalization, a process of integrating nations and people, is also primarily driven by international trade. Economic theory predicts that cross-border trade and investment will rise as technological advancement lowers transaction costs (communication, transportation).