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traditional international trade theories

What are some of the traditional international trade theories that support the concept of globalization?

List the major drivers of globalization and give three examples of each.

Please provide at least two references.

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The concept of "free trade" is one of the of the major theories that support the concept of globalization. In fact, it is one of the most important drivers of globalization as removal of restrictions and trade liberalization, as established by free trade between nations, allows increased bilateral trade between nations and thus, encourage globalization. A striking example in this regard will be emerging nations like India where liberalized trade practices and increased incentives from the government to foreign investors has resulted in strong foreign direct investment in the country and strongly boosted the trade with developed countries like USA.

Another important international trade theory supporting globalization has been the "theory of comparative advantage". Organizations, in today's competitive arena, are seeking constant opportunities to cut down costs of production and ...

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What are some of the traditional international trade theories that support the concept of globalization?

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