Video: The international economy today
2024 Author: Henry Conors | [email protected]. Last modified: 2024-02-12 02:43
Economic ties between different states are formed and developed for a long time. Today, many people, from students to retirees, easily operate with the terms "international economy", "crisis", "gross domestic product". However, there were times when all these concepts and definitions did not exist. Economic cooperation between countries was reduced to a simple exchange of goods. Silk fabrics were produced in China, and cotton fabrics in Central Asia. In Europe, silver was mined and other metals were smelted. The fastest sailing ships were also built here, which were used both for trade with "overseas countries" and for conducting military operations.
At a certain stage in the development of human civilization, it was believed that the international economy is a certain number of national economic systems that exchange marketable products with each other. Spain supplied England with wine and fruit, and in return received looms and steam engines. Gamesexchange”, as one well-known researcher of the development of trade relations calls this process, originated in ancient times and continue to operate at the present time. Of course, the modern international economy is a complex and multifaceted system that is nothing like its progenitor.
In this context, it should be noted that some fundamental principles have been preserved. Only the exchange of commodities now takes place in the most varied ways. Today, any citizen of the European Union has the opportunity to purchase the item he needs or a complex household product directly from the manufacturer, which is geographically located in China. This internationalization of the economy has become possible due to the emergence and rapid development of information technology. To this, it should be added that this term does not only mean the trade in goods, patents, machines or financial resources.
A characteristic feature that distinguishes the current situation is the opportunity for any person not only to acquire goods in this way, but also to find a job outside the state of which he is a citizen. The international economy of the individual has never provided mechanisms of this kind in history. There is reason to say that processes of this kind are undermining the foundations of nation-states. But, on the other hand, they have the opportunity to acquire new technologies, upgrade existing enterprises and createnew ones, thereby raising the standard of living of its citizens.
Joint ventures are common these days. At the same time, the emergence of transnational corporations was recorded more than a hundred years ago. The peculiarity of such a company is that its nationality cannot be determined. Its structural divisions are located, figuratively speaking, on all continents. And the above examples do not exhaust the list of characteristic features that the international economy has acquired today. The process of its development will continue in the future.
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