Globalization and Trade: An Unfortunate Tangle

Sorin Burnete
Additional contact information
Sorin Burnete: Lucian Blaga University of Sibiu, Romania

Expert Journal of Economics, 2019, vol. 7, issue 2, 75-82

Abstract: Globalization disrupted the seemingly solid construction emerged in the aftermath of WW II, called the international trade system. For over fifty years, the system grew constantly thanks to the increasing number of countries that joint it as well as to its ubiquitously-accepted rules. For better and for worse the system has worked according to traditional theory principles, whose core credo was that all participating countries would gain more if engaged in trade than if in autarchy. Globalization has muddied the waters. The contemporary order in which multinational companies make the rules has made these predictions look elusive. One serious implication is today’s unorthodox approach of trade policy, free trade being sacrificed in favor of managed trade, with the whole string of good and bad consequences that derive from states’ intervention.

JEL-codes: B11 B12 B13 B17 B27 F11 F12 F13 F15 F60 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://economics.expertjournals.com/ark:/16759/EJE_706burnete73-82.pdf (application/pdf)
http://economics.expertjournals.com/23597704-706 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:exp:econcs:v:7:y:2019:i:2:p:75-82

Access Statistics for this article

More articles in Expert Journal of Economics from Sprint Investify
Bibliographic data for series maintained by Alin Opreana ( this e-mail address is bad, please contact ).