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Principles of International Trade (Import-Export): the First Step Toward Globalization
No country is completely self-sufficient. No country can produce all products it needs, nor is blessed with all natural resources necessary to maintain its economic growth. THe resulting interdependence of nations is becoming more important as the world economy is being globalized and businesses are expanding their markets beyond their countries' borders. Import is a business activity that brings foreing goods and services into the country where the business is located. On the other hand, export is a business activity sending goods and services beyond a nation's border. Import and export are also called international trade or foreign trade.
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