Global Trading
Global trading refers to the exchange of goods and services between countries around the world. This process allows nations to specialize in producing certain products, which can lead to increased efficiency and lower prices for consumers. By trading, countries can access resources and products that may not be available domestically, fostering economic growth and international relationships.
The global trading system is supported by various agreements and organizations, such as the World Trade Organization (WTO), which helps regulate trade practices and resolve disputes. Additionally, advancements in technology and transportation have made it easier for businesses to connect with international markets, further enhancing global commerce.