ON DIRECTIONS FOR DEVELOPMENT OF FOREIGN TRADE AND DEGREE OF INTERNATIONAL TRADE INTEGRATION IN THE COMING YEARS

Abstract

The financial crisis brought the world economy to a deep recession. Global trade, after years of stable development and acting as a dynamic of the world economic growth, went down drastically because of negative effects by market price and demand. Countries suffering from falls in their export and import include Japan falling by 36% in August (the 11^th successive month), Thailand 23.5% (the 10^th successive month), South Korea 20.6% (the 10^th successive month), and China 23% (the 8^th successive month).