1. International Trade and Economic Growth
By 1870, the advent of railroads and steamships, and reduction of tariffs and other trade restrictions by most of the world's nations, had increased trade to about 5% of the world's output. ... Without resources there can be basically no production and no growth. 5) Trade stimulates competition between companies and again there is more effectiveness in the economy. 6) If there was no (possibility of) trade, many companies would not invest abroad. ... Indications of nationalistic sentiment with regard to trade issues have been apparent during this year. 3.1 21st Century Policy I...
- Word Count: 1844
- Approx Pages: 7
- Grade Level: Undergraduate