Write a 500 to 750 word paper in APA format conveying the salient points of this reading material. Comment on the current state of international trade based on this material and offer observations based on current affairs.
Stark, J. (2010). Is the global economy headed for a lost decade? A European Perspective. Business Economics, 45(3), 147-151
Capling, A., & Higgott, R. (2009). Introduction: The future of the multilateral trade system-what role for the world trade organization? Global Governance, 15(3), 313-325
Bishop, T., Reinke, J., & Adams, T. (2011). Globalization: Trends and perspectives. Journal of International Business Research, 10(1), 117-130
Weiss, J. (2010). Changing Trade Structure and its Implications for Growth. World Economy, 33(10), 1269-1279
Answer preview
The benefits of international trade in the face of most countries remain unclear as they tend to lose more than they gain. Some nations, especially unfavorable terms of trade, tend to tighten their trade measures, limiting the number of imports. According to Weiss (2010), the current state of international trade is not promising. International trade has experienced a dramatic decline as countries are threatening to adopt or even adopt trade-restrictive measures to protect domestic businesses and jobs. For instance, governments opt to increase tariff, new import requirements, among others. Also, the financial crisis inhibits international trade as it reduces the liquidity rate and increases the cost of trade, particularly for exporters.
[628 Words]