International Trade and Wages

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We are in a fast changing technologically advanced world. Each day new innovations and inventions come up. Many more discoveries have been carried out in different parts of the world. People are still excavating new ideas, new products, new life style, new trends, new designs, new business tactics, new motives, new policies, new customers, new expectations, new demands, etc. Trade makes way for all these to happen. Moreover, International trade does make a valuable contribution in making a new world- a new outlook. People are mesmerised with the availability of things in the market and they don’t mind in shelling out their money on these products, amenities and luxuries of life. Here we would be analysing on the impact trade has done on the society. More specifically, we would be investigating on the approach of International Trade and Wages, what relationship it has with each other, how they are interlinked, how economy is directed by them, how growth is taking place, how economic welfare is taking place, what are the feasible factors with regard to this international trade and growth, what are trade barriers, how to resolve these trade barriers in the view of International trade, etc. Let us proceed further in analysing the International trade and growth in the economy. The International trade and wages are interlinked. The impact of foreign trade is enormous. Foreign trade and economic trade have a vis-à-vis relationship and it does make an impact on the developmental approach in the societal economy. The market expands and grows rapidly because of the foreign trade and thus promotes demand and supply in the economic growth of a country. It does affect the whole of economy every second. There are umpteen number of ways the ... ... middle of paper ... ...ng the Dynamic Gains from Trade Author(s): Romain Wacziarg Source: The World Bank Economic Review, Vol. 15, No. 3 (2001), pp. 393-429 Published by: Oxford University Press Stable. 14. North-South Trade, Knowledge Spillovers and Growth Author(s): Rod Falvey, Neil Foster and David Greenway Source: Journal of Economic Integration, Vol. 17, No. 4 (December 2002), pp. 650-670 Published by: Center for Economic Integration, Sejong University Stable. 15. Comparative Advantage and Long-Run Growth Author(s): Gene M. Grossman and Elhanan Helpman Source: The American Economic Review, Vol. 80, No. 4 (Sep., 1990), pp. 796-815 Published by: American Economic Association.

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