1) Some of the visible signs reflect the current increased economic interdependence among countries is setting up general agreements on tariffs and trade allowing free trade among nations and lowering barriers, some of these trade agreements include Normal Trade Relations, and the World Trade Organization. Some reasons for this growth and interdependence and for the rise in global integration is the need for growth in providing international goods and services, there has also been a growth in international finical flows, investments and new currencies that have made international trade not only easier but necessary for economic growth.
2) The General Agreements on Tariffs and Trade was created to regulate trade between countries. The organization is responsible for removing barriers between countries in order to increase the flow of international trade and to encourage countries to trade beyond their own boarders.
3) The World Trade Organization is different from the General Tariffs and Trade in that the World Trade Organization is responsible for overseeing international trade, they also regulate trade and the services related to trade. The World Trade Organization also settles disputes among nations and ensures that all transactions are completed legally. The General Agreements on Tariffs and Trade differs from the World Trade organization in that GATT provided a forum for multilateral discussion among countries to reduce trade barriers, the nations included in GATT would meet periodically to discuss barriers and would mutually agree on them.
4) In the past decade United States foreign direct investment and trade patterns have changed with financial flows and international trade barriers becoming lower and lower. Foreign investment has grown and is reshaping not only the United States’ global landscape but the countries it invests in as well.
5) NAFTA is a