World trade in services has recently been a little under $US2 trillion, about a quarter of world trade in goods. That …

world. The commodity distributionof trade has moved toward being in large part an exchange of U.S. manufactured goods for ….S.share of world trade which began around 1950 has slowed down or evenstopped, as has the fall in the terms of trade of the …

about 4.5% of world output in 1970 to over 7% in 1995. The importance of internationalized output fell substantially in … 1995. Outside of petroleum and manufacturing, internationalized production was of little importance. For the world as a …