International Trade, or Modern Mercantilism

The world today operates as a global village, where individuals and establishments are connected by communications and travel. This has intriguing implications on the world economy; it no longer is the question of ‘wealth of nations’ but ‘wealth of other nations’. Communications and travels spread out the assets, labour, goods, services as well as the invisible hand that drives the market of demand and supply, of one country to the others. If one considers the international trade as one global system, obviously it can have serious brunt on the ecology of the planet, since controls are now decentralised.