International Trade in East Asia
Introduction The practice of international trade underwent massive changes in the world trading communities over the last 20 years. Upon the formation of World Trade Organization (WTO), the sole regulatory body for the international trade and business, international trade has increased significantly. Until the 1970s, most of the countries relied more on domestic products than imported goods. Almost all the large global economies like France, the UK, Germany, the USA, and Italy were fulfilling their demands from domestic production. However, from the 1980s onwards, bilateral trades have seen a huge upturn. For instance, in the 1980s, Japanese export to ...
