DOI link for International trade
International trade book
Globalisation is the process through which the world becomes increasingly interconnected through the international expansion of markets. This happens along four axes:
1 International trade in goods and services: imports and exports; 2 International capital flows with foreign direct investments and portfolio investments; 3 International labour migration, for example within trade unions such as the European
Union or through undocumented migrant workers without official residence permits; 4 Internationalisation of production processes in global value chains through the produc-
tion facilities of multinational companies and subcontracting (outsourcing).