What Is Trade?

What is Trade?

Trade, as described by the Oxford English Dictionary, is the transaction of a security or a commodity. Trade today is more generally termed as commerce. In our modern era, international trade (or world commerce) has had an important political role. Nations today often use trade to either solidify old political ties, or create new ones. In most nations, international trade also accounts for a significant percentage of the GDP (Gross Domestic Product). It has only been recently that the economic, social, and political importance of trade have increased, this is mainly because of the creation of advanced transportation, multinational corporations, globalization, and outsourcing. Geographically regions like Europe have formed regional trade blocs. In less geographical terms, agreements and organizations such as the General Agreement on Tariffs and Trade (GATT) and its successor, the World Trade Organization (WTO), have also arisen to promote the importance of international trade.

What does Trade Pattern mean?

Trade pattern essentially means the history and change of a nations exchange in securities and (or) commodities. However, in the modern setting, the entirety of an international trade pattern of even a single nation is indeed very hard to grasp. Many professionals in the field have spent many years of their lives simply charting a single nation’s trade pattern. As said earlier, trade has had an increasing effect on many divisions of society. With that, we can learn many things and maybe even foresee the near future and policies of a nation through its trade pattern.

Recent Trade Pattern of Cambodia:

Cambodia is a country that has been beset by turmoil from then till now. A coalition government was formed amidst peaceful elections in July 2003, but it took one year of negotiations between opposing parties to reach this peaceful outcome. Like any developing nation, Cambodia faces a rather daunting challenge to not only develop its economy, but...