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What has happened to international trade over the past 75 years, and especially since 1970? Why has this change happened?

User Rum
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Final answer:

International trade has seen significant growth and interconnectedness over the past 75 years, especially since 1970. This change is largely due to the reduction of trade barriers and advancements in technology that have made trade more efficient.

Step-by-step explanation:

Over the past 75 years, international trade has experienced a significant increase and has become more interconnected than ever before. Since 1970, there has been a dramatic reduction in trade barriers, such as tariffs and import quotas, due to international agreements and negotiations. Additionally, technological advancements in transportation, communication, and information management have made international trade easier and more efficient.

Two main factors have contributed to the rise in international trade. First, advances in transportation and communication have greatly reduced the costs of moving goods globally. For example, the development of shipping containerization in 1956 significantly decreased transportation costs by as much as 90%. Second, trade barriers between countries have been progressively lowered, promoting greater economic integration.

Overall, these changes in international trade have resulted in increased economic activity and prosperity for many countries around the world.

User AlBlue
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