New Realities for International Trade and Political Implications for the Emerging Economies

This paper analyses the current global economic trends and explores the new realities for international trade in the current set of economic parameters. While there are encouraging positive economic trends and further liberalisation of international trade is in order, the overall trade system still imposes many barriers to the developing countries including many emerging markets. Thus, based on the deliberate economic trend analysis and anatomy of the current trading system, the paper draws a number of implications for firms in emerging markets to internationalise their operations and for government policy makers in those countries to design strategic policies to respond to new economic and trade realities and the need of their domestic businesses to expand abroad.