Trade in intermediate goods as one possible link between rising trade and foreign direct investment is examined. To explain growing intermediate goods trade, three hypotheses are brought forward: outsourcing, global sourcing and the increasing importance of MNE networks. These hypotheses are...

"Hans Holbein's Triumphs (1532-1534), commissioned for the headquarters of the Hanseatic League in London and Kano Naizen's The Portuguese namban ('foreigners') painted in Japan in 1543 are representations of worlds of trade, where wealth, speculation, exploitation, poverty, curiosity,...