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Factors Influencing International Trade

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1 Introduction
According to the World Trade Organisations’s World Trade Report (2013), the future of economic growth and international trade is being affected by a number of factors, i.e. demography, investment, technology, energy and other natural resources, transportation costs and the institutional framework.
However, since it has been proven that free trade agreements positively affect export and employment rates, technological development, living standards, and other economic factors, one could argue that they are, in fact, the most important factor.
Therefore, this paper’s purpose is to show that Free Trade Agreements are highly beneficial to the participating nations as long as the necessary regulations are put in place. The implementation …show more content…

While many believe that globalisation is a modern phenomenon - a trend of the twenty-first century - Steger (2009) explains that its origins can be traced back to the prehistoric period (10000 BCE - 3500 BCE). He defines globalisation as “the expansion and intensification of social relations and consciousness across world-time and world-space” which found its beginnings about 12000 years ago when small groups of hunters and gatherers reached the southern tip of South America ending the long process of settling all five …show more content…

However, the differences between the US and European systems can become a big challenge for regulatory bodies,
For example, Barbee and Lester (2014) state that while the US is pushing for more trade liberalisation and, therefore, global regulations, its great point of content concerns financial regulations as the US government believes that these financial rules could undermine its ability to regulate domestic markets. However, Heckles (2016) argues that exception clauses will enable both the EU and the US to maintain control and take actions that would usually be inconsistent with TTIP regulations as long as they are connected to a permissible objective.
While the US may be discontent with the financial regulations, many European countries are unhappy about the possibility of importing foods from the US that do not meet the European standards. However, this is an issue that can be easily overcome if the negotiators pay attention to the needs of each

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