NCERT Solutions for Class 10 Social Science Geography Chapter 7
Social Science Class 10 Geography
Lifelines Of National Economy 7
Important NCERT Questions Based on new NCERT Books for Session 2022-2023
Questions No: 3 Part: II
Write a note on the changing nature of the international trade in the last fifteen years.
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Over the last fifteen years, international trade has undergone significant changes. Globalization expanded supply chains, fostering complex networks across countries. E-commerce growth revolutionized trade patterns, allowing businesses to access global markets easily. Emerging economies like China, India, and Brazil emerged as key trade players, altering global dynamics. Trade alliances and agreements aimed at redefining trade terms were formed, while policy changes and tariff disputes between major economies led to trade tensions. Technological advancements boosted trade efficiency, while a growing emphasis on sustainability reshaped practices.
The COVID-19 pandemic disrupted trade, exposing supply chain vulnerabilities and accelerating digital transformation. These changes reflect a shift in global trade dynamics, impacting trade patterns, policies, and the importance of adaptability and resilience in the evolving international trade landscape.
Some of the changes in the international trade in the last fifteen years are as follows:
a). Bulk imports as a group registered a growth accounting for 39.09 per cent of total imports. This group includes fertilizers (67.01 per cent), cereals (25.23 per cent), edible oils (7.94 per cent) and newsprint (5.51 per cent).
b). International trade has under gone a sea change in the last fifteen years. Exchange of commodities and goods have been superseded by the exchange of information and knowledge.
c). India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.
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