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Running head: MICRO-ECONOMICS
Basically, international trade is generally defined as the exchange of such things like goods,
services and capital across the borders or maybe different territories. This kind of trade in some
countries represents a certain important share of the GDP of different countries. This form of trade
happens in a number of different component or elements for that case, and which are the
transaction costs, which refer to the costs associated to the economic exchange and the trade, there
is also both the tariffs and non-tariff related costs and which are basically levied by the responsible
authorities on the realization of the trade flow (Feenstra, 2015). The other components involved in
international exchange are the transport cost and the cost of times consumed during the entire
period of trade. In this case therefore, we are going to consider and discuss an article relating to
how global cities have basically changed and also how they are changing the international trade.
The geographic diversification related to broad issue of international trade and also
investments has basically become greatly a public policy goal to many different countries all across
the world. Policymakers in this case are also increasingly raising a number of concerns and that
relate to the possible risks and which are largely on political bases, which raise as a result of too
much concentration to trade and investment on small numbers of trading partners (McGovern,
2018). Trade related services however may continue offering better opportunities in connection to
the broad issue of trade diversification all across the world. Fa...
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