TRADE IN SERVICES AND EMPLOYMENT: HARNESSING OPPORTUNITIES AND ADDRESSING CHALLENGES

Georgeta Ilie ()
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Georgeta Ilie: Institute for World Economy, Romanian Academy 13, Calea 13 Septembrie, 6th district, Bucharest ROMANIA

Global Economic Observer, 2025, vol. 13, issue 1, 63-77

Abstract: Since the beginning of time, the world's economies have been interconnected. These connections have ranged from simple partnerships to complex exchanges of resources. Throughout human history, no country has ever possessed all the resources it needed, making international connections essential. People, trade, capital, and information have always been the key flows driving global interaction, although their evolution varies depending on the global context. In an ever-changing international system shaped by economic, political, and social factors, these flows shift in scale and direction but consistently remain the forces that keep states connected. Economic flows are reflected in the export and import of goods and services, migration (i.e., the movement of people), technology transfer, information exchange, innovation, foreign direct investment, and the operations of transnational corporations. Without these components, the global economy cannot function effectively, increasing the risk of widening gaps between countries or even their isolation. Therefore, international economic flows are essential for global growth, the development of partnerships, diversification of supply sources, market expansion, and job creation. They are the engine of growth and development. This article aims to identify the defining features of each type of flow and to demonstrate the importance of the global economic circuit they create. By analysing trade, migration, capital, and technology flows, the paper will justify their critical role in the economies of all countries, regardless of their level of development.

Keywords: trade in services; employment; modes of supply; digital services; artificial intelligence (search for similar items in EconPapers)
JEL-codes: F13 F23 J24 L8 O11 O24 (search for similar items in EconPapers)
Date: 2025-06
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