World Trade Dynamics and Development
Classified in Geography
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Importance of World Trade
International trade is important because of the unequal distribution of natural resources, the differences between the economies of different states, and the interests of large companies in capturing part of the world market.
Key Global Trading Regions
- USA: The world's main importer and the second largest exporter. Its production is higher than any other country.
- EU: The world's largest trading bloc. Member states are small but wealthy, and they import and export a great many products.
- Australia: Does a lot of trade in the Pacific and with East Asian countries.
- Africa: Contributes little to international trade because of its level of poverty.
- Middle Eastern Countries (Saudi Arabia): Primarily export oil.
- Southeast Asia: Do