The International Trade in Global Economy

Ion Botescu
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Ion Botescu: Universitatea Ovidius, Constanta

Theoretical and Applied Economics, 2007, vol. 5(510), issue 5(510), 45-48

Abstract: The intensification of the globalization of the world economy is the result of the amplification and diversification without precedent of the material, financial and human flows between the world’s states. The international commerce has known in the last period o strong expansion, almost uninterrupted, surpassing the industrial production growth and PIB on a world scale. Among the PIB evolution and the evolution of the world commerce there is a strong relationship of correlation, fact shown by the linear correlation coefficient. The structure on exports of country categories confirms the fact that the process of globalization has been fully completed in the world. Romania, through its achieved economic opening, has boosted its participation to the international economic trades. In this way there is a chance for Romania’s economy in the future to become more competitive, even though in the present our country faces serious problems concerning the strong deficit of the foreign trade balance.

Keywords: global economy; linear correlation coefficient; competitiveness; trade balance; economic opening. (search for similar items in EconPapers)
Date: 2007
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