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International Trade, E-commerce, Inequalities in Trade, Trade Alliances,…
International Trade, E-commerce, Inequalities in Trade, Trade Alliances, Protectionism
E-commerce:
E-commerce, short for electronic commerce, refers to buying and selling goods and services online.
E-commerce has grown rapidly with the advancement of technology and offers convenience and accessibility to consumers and businesses.
It encompasses various models such as B2C (business-to-consumer), B2B (business-to-business), and C2C (consumer-to-consumer).
Inequalities in Trade:
Inequalities in trade refer to disparities and imbalances in the distribution of benefits and opportunities resulting from international trade.
Developing countries often face challenges in competing with developed nations due to factors such as limited resources, technology gaps, and trade barriers.
Trade Alliances:
Trade alliances are agreements between countries aimed at promoting and facilitating trade among member nations.
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Trade alliances typically involve the reduction or elimination of trade barriers such as tariffs and quotas.
Protectionism:
Protectionism refers to the use of trade barriers and policies to protect domestic industries from foreign competition.
It includes measures like tariffs, import quotas, subsidies, and trade regulations.
Protectionism aims to shield domestic industries, preserve jobs, and reduce reliance on foreign goods.
International Trade:
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International trade fosters economic interdependence and can lead to economic growth and development.