1. Globalization
"The importance to most countries of a relatively free flow of international trade has led them to transfer powers over trade restrictions to super national bodies " (Dunning 93). ... The ongoing trend of free trade agreements initially started by the GATT and then transformed into the WTO, shows how beneficial free trade could be. ... The question is for whom is the free trade really beneficial? H-O theory argues that free trade is beneficial for both developed and developing countries. ... This free trade notion lead to a new division in the world which is the economic blocks. ...
- Word Count: 2119
- Approx Pages: 8
- Grade Level: High School