This chapter builds on Chapter 8 by looking at the specific subject of trade. It begins with a review of the global trading picture, and of the recent and rapid rise in trade volume. It then looks at the changes that have come to the global trading system since 1945, before reviewing the qualities of the global trading regime, including the role of the World Trade Organization, the implications of changes in technology, and the rise of multinational corporations and global cities. The chapter ends with a discussion about free trade, comparing different levels of trade cooperation and the pros and cons of free trade.
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