Category International Trade and Global Economic Processes

International Trade and Global Economic Processes

Customs Unions

Reading Time: 4 minutesCustoms unions are arrangements among countries in which participating states agree to eliminate tariffs on trade among themselves while adopting a common external tariff on imports from the rest of the world. These two features distinguish customs unions from other forms of regional trade agreements. Free trade areas, for example, remove tariffs among members but […]

International Trade and Global Economic Processes

Commodity Chains

Reading Time: 4 minutesCommodity chains describe the interconnected set of activities involved in the design, production, distribution, and consumption of goods and services in the global economy. These chains often span multiple countries and regions, linking firms, workers, and institutions through complex networks of economic relationships. Such relationships may include ownership structures, subcontracting arrangements, joint ventures, and strategic […]