Abstract
Perhaps the most significant feature of globalization is its reliance on trade. Fueled by technological advances, world trade is not only intensifying but is fast transforming the social and cultural fabric of even the remotest of nations. Each year, $7.3 trillion dollars worth of manufactured goods and $1.8 trillion dollars worth of commercial services are exported. In 2003, the real merchandise growth was 4.5 percent and in 2004, it is recorded as a solid 8.5 percent. Elites in countries with mutual trading interests have formed trade regimes as a way to facilitate growth and enhance their role in the global trade market. Table 5.1 indicates a significant increase in trade in 2003 in countries participating in major trade regimes.
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© 2007 O.P. Dwivedi, R. Khator, J. Nef
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Dwivedi, O.P., Khator, R., Nef, J. (2007). Trade, Labor, and Human Rights in a Global Context. In: Managing Development in a Global Context. Palgrave Macmillan, London. https://doi.org/10.1057/9780230627390_6
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DOI: https://doi.org/10.1057/9780230627390_6
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