A readily measurable aspect of globalization is the increasing exchange of capital, products and services across national boundaries, spurred by expanded use of container shipping and other technological improvements as well as falling barrier. The interdependence is most apparent with global supply chains, as manufactured goods like vehicles and electronics are assembled with components produced around the world, and it’s increasingly rare for any country to be the sole source of any one complex product. Countries aim to increase exports but worry about too many imports and trade imbalances, even as their consumers pursue low prices. Disagreements on subsidies, tariffs, quotas or unfair practices are debated by the World Trade Organization.

Ukraine Says Russia Shuts Down All Gas Supplies to Europe

An entire continent is caught in the middle of a dispute that may go beyond gas payments
David Jolly
January 7, 2009

Made in America

“Buy American” provisions may provide job security to some, but protectionism will stunt global trade
Nayan Chanda
February 6, 2009

The Forgotten Virtues of Free Trade

Students of history understand the dangers of protectionism
Frank Trentmann
December 1, 2008

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