Question

What might account for the dramatic increase in international trade over the past 50 years?

Short answer

Technological development, improvement in transportation

Step-by-step solution

Step 1. Introduction 

International trade refers to the inflow and outflow of goods, services, and resources between countries. Trade benefits both the participants involved.

Step 2. Explanation

International trade has grown significantly in the past 50 years as the advancement in technology has made it easier for products as well as people to move between countries. Not only that, innovation has brought the world closer. Development in communication and information technology has made it significantly easier for information to travel anywhere in the world. Consumers in a country are much more aware of products from other countries.

Such developments are also accompanied by a reduction in trade barriers. International treaties and agreements have contributed to a reduction in trade barriers. Thus, easing the flow of trade.