6Importance of Global Commerce for Innovation
Developing global commerce and international trade in goods and services among countries and regions has been essential to human development and improving the quality of life. Both exports and imports are equally important and have significantly contributed to sharing economic growth in all countries over the centuries. International trade has replaced the absence or shortages of goods and services for developed and developing countries. For early immigrants to the Americas, imports of basic necessities were essential for survival. As the colonies crossed the survival threshold, they learned of their comparative advantages and began exporting to pay for imports. International ...
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