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Chapter1.Internationaltradeintheglobaleconomy
leadstotheriseofacommonglobal-scaleeconomicsystem,i.e.aglobaleconomy.
Itsmaincomponentsshouldhavetheinstitutional,organizational,technicaland
technologicalcapacitytofunctionasawholeinalastingandcoordinatedmanner.
Globalizationinvolvestwofundamentalareasofchange:(1)technicalandtech-
nologicaland(2)political.Transformationsoccurintheeconomy,makingitmore
opentotheconceptofaliberalmarketeconomy.Teseprocessesareunderpinned
bytheinternationaldivisionoflabour,i.e.specializationofcountriesintheproduc-
tionandexchangeofspecificgoodsandservices.Tedifferenceintheindividual
countries’productionpotential,whichdeterminesthevolumeandstructureofpro-
ductionaswellasinternationalspecialization,formsthebasisforinternationalcom-
mercialexchange.Also,itdeterminesthedynamics,directionsandstructureofex-
change,and–asaconsequence–thecharacter,durationandintensityofeconomic
relationsbetweencountriesandgroupsofcountries.Internationalcommercialex-
changeallowsaccesstoawiderrangeofgoodsandservices,usingthesamemeans
ofproduction.Benefitsarealsopresentinacommercialexchangewhenonecoun-
trymayprovidegoodsandservicesmorecheaplythanitspotentialcompetitors.Te
manner,inwhichsuchbenefitsarise,isexplainedbythebasictheoriesofinterna-
tionaltrade,i.e.thetheoryofabsolutecostsandthetheoryofcomparativecosts5.
Teinternationaldivisionoflabourunderliesglobalcommercialexchangeand
leadsnotonlytoproductiongrowth,butalsoallowsthesocietytobettersatisfy
itsconsumptiondemandwithregardtovolumeandassortment.Teresultingin-
creaseintheimportanceofforeigntradefortheeconomyisconfirmed,inasynthet-
icway,bythefactoroftheglobaleconomy’sopennesstointernationalcommercial
exchangemeasuredastheratioofglobalexportstogrossworldproduct.Techang-
esinthatfactorhavebeenpresentedinalong-termperspective(1870–2014)inFig-
ure1.Selectedyearshavebeenusedtoillustratetheinterdependenceofeconomic
opennessandground-breakingeventsintheworld’spoliticalandeconomichisto-
ry,amongthembeginningoftheindustrialrevolution(1870),ayearprecedingthe
outbreakoftheFirstWorldWar(1913),beginningofstabilizationaftertheSecond
WorldWar(1950),firstoilcrisis(1973),endoftheAsianfinancialcrisis(1998)and
beginningofthecrisisoftheglobalizationoftheworldeconomy(2008).
Internationaltradeisthetotaloftradeingoodsandservices,equallingexports
andimportsforcountrieswhichparticipateinsuchtrade.Exportmeansapaidsale
ofdomesticgoodsabroadorprovidingservicestoentitieslocatedinadifferentcus-
tomsarea.Fromadomesticeconomyperspective,foreignbuyersofexportscre-
ateadditionaldemandforgoodsand/orservices,whichmaybeproducedathome
inquantitiesexceedinglocaldemand.Oncethelocaldemandbarrierisbroken,do-
mesticmanufacturersmayexpandproduction,whichimprovestheefficiencyindi-
catorsoftheirbusinesses.Agrowthinexportallowscreatingadditionaljobsinthe
5See:C.Arkolakis,A.Costinot,A.Rodríguez-Clare,NewTradeModels,SameOldGains?,uAmericanEco-
nomicReview”2012,Vol.102,No.1,pp.94–130;J.Misala,Wymianamiędzynarodowaigospodarkaświatowa.
Teoriaimechanizmyfunkcjonowania,OficynaWydawniczaWyższejSzkołyGłównejHandlowej,Warszawa
2005,pp.15–47.
