About Trading - Trading
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"I want nine out of ten people from my Ummah (nation) as traders" and "Trader, who did trading in truth, and sold the right quantity and quality of goods, he will stand along Prophets and Martyrs, on Judgment day".
Also during the war, in 1944, 44 countries signed the Bretton Woods Agreement, intended to prevent national trade barriers, to avoid depressions.
An embargo, a severe form of externally imposed isolation, is a blockade of all trade by one country on another.
Brown - Hermes the Thief: The Evolution of a Myth SteinerBooks, 1 Mar 1990 ISBN 0940262266 Retrieved 2012-06-25
By trade the whole society get benefits but interest makes the rich richer and the poor poorer.
Empires of the Silk Road: A History of Central Eurasia from the Bronze Age to the Present.
For instance, Radhanites were a medieval guild or group (the precise meaning of the word is lost to history) of Jewish merchants who traded between the Christians in Europe and the Muslims of the Near East.
Free trade between states was stifled by the need for strict internal controls (via taxation) to maintain security within the treasury of the sovereign, which never-the-less enabled the maintenance of a modicum of civility within the structures of functional community life.
From the beginning of Greek civilization until the fall of the Roman empire in the 5th century, a financially lucrative trade brought valuable spice to Europe from the far east, including India and China.
In 1947, 23 countries agreed to the General Agreement on Tariffs and Trade to promote free trade.
In Principles of Political Economy and Taxation Ricardo advanced the doctrine still considered the most counterintuitive in economics:
In contrast to the previous Soviet-style centrally planned economy, the new measures progressively relaxed restrictions on farming, agricultural distribution and, several years later, urban enterprises and labor.
In fact, it is probably the increasing prevalence of international trade that is usually meant by the term "globalization".
In real terms, the economy doubled in size between 1978 and 1986, doubled again by 1994, and again by 2003.
It criticised Mercantilism, and argued that economic specialisation could benefit nations just as much as firms.
It set up rules and institutions to regulate the international political economy: the International Monetary Fund and the International Bank for Reconstruction and Development (later divided into the World Bank and Bank for International Settlements).
Later one side of the barter were the metals, precious metals (poles, coins), bill, paper money.
Long-range trade routes first appeared in the 3rd millennium BC, when Sumerians in Mesopotamia traded with the Harappan civilization of the Indus Valley.
Mackenzie - Myths of Crete and Pre-Hellenic Europe - published 1917 - ISBN 1605063754 Retrieved 2012-06-09
Milton Friedman later continued this vein of thought, showing that in a few circumstances tariffs might be beneficial to the host country; but never for the world at large.
Non-governmental organizations also play a role in promoting fair trade standards by serving as independent monitors of compliance with fair trade labeling requirements.
On a real per capita basis, doubling from the 1978 base took place in 1987, 1996 and 2006.
One feature was the establishment of four (later five) Special Economic Zones located along the South-east coast.
Prior to this, the flow of spice into Europe from India was controlled by Islamic powers, especially Egypt.
Proposed and practiced fair trade policies vary widely, ranging from the common prohibition of goods made using slave labour to minimum price support schemes such as those for coffee in the 1980s.
Protectionist policies were particularly prevalent in the 1930s, between the great depression and the onset of World War II.
Rice - Filled With the Spirit Sword of the Lord Publishers, 1 Aug 2000 ISBN 087398255X Retrieved 2012-06-25
Since the division of labour was restricted by the size of the market, he said that countries having access to larger markets would be able to divide labour more efficiently and thereby become more productive.
Smith said that he considered all rationalisations of import and export controls "dupery", which hurt the trading nation as a whole for the benefit of specific industries.
South Korea has done much better by economic criteria than India over the past fifty years, though its success also has to do with effective state institutions.
Spices brought to Europe from the Eastern world were some of the most valuable commodities for their weight, sometimes rivaling gold.
Such ideas have also sparked a debate on whether trade itself should be codified as a human right.
Talks have been hung over a divide between the rich developed countries, represented by the G20, and the major developing countries.
That is, the calculation made was whether it was in any particular country's self-interest to open its borders to imports.
The Hanseatic League was an alliance of trading cities that maintained a trade monopoly over most of Northern Europe and the Baltic, between the 13th and 17th centuries.
The Phoenicians were noted sea traders, traveling across the Mediterranean Sea, and as far north as Britain for sources of tin to manufacture bronze.
The Roman empire produced a stable and secure transportation network that enabled the shipment of trade goods without fear of significant piracy.
The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade.
The more market-oriented approach reduced inefficiencies and stimulated private investment, particularly by farmers, that led to increased productivity and output.
The spice trade was of major economic importance and helped spur the Age of Discovery in Europe.
This first stage of currency, where metals were used to represent stored value, and symbols to represent commodities, formed the basis of trade in the Fertile Crescent for over 1500 years.
This is called commodity money and includes any commonly available commodity that has intrinsic value; historical examples include pigs, rare seashells, whale's teeth, and (often) cattle.
This was followed within a few years by the infant industry scenario developed by Mill promoting the theory that government had the "duty" to protect young industries, although only for a time necessary for them to develop full capacity.
This was taken as evidence against the universal doctrine of free trade, as it was believed that more of the economic surplus of trade would accrue to a country following reciprocal, rather than completely free, trade policies.
Total two-way trade in January 1998 exceeded that for all of 1978; in the first quarter of 2009, trade exceeded the full-year 1998 level.
Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade.
Trade exists between regions because different regions have a comparative advantage in the production of some tradable commodity, or because different regions' size allows for the benefits of mass production.
Trade however continued to flourish among the kingdoms of Africa, Middle East, India, China and Southeast Asia.
Trade in the East Indies was dominated by Portugal in the 16th century, Holland in the 17th century, and the British in the 18th century.
Trading was the main facility of prehistoric people, who bartered goods and services from each other before the innovation of the modern day currency.
While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance have increased in recent centuries, mainly because of Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing.
2005, the Central American Free Trade Agreement was signed; It includes the United States and the Dominican Republic.
Although there are usually few trade restrictions within countries, international trade is usually regulated by governmental quotas and restrictions, and often taxed by tariffs.
Archaeological evidence (Greenberg 1951) of the first use of trade-marks are from China dated about 2700 BC.
Archaeological evidence of obsidian use provides data on how this material was increasingly the preferred choice rather than chert from the late Mesolithic to Neolithic, requiring exchange as deposits of obsidian are rare in the Mediterranean region.
Beginning around 1978, the government of the People's Republic of China (PRC) began an experiment in economic reform.
Currency was introduced as a standardised money to facilitate a wider exchange of goods and services.
During the early years of the Cold-war, the United States of America and the then Soviet USSR were engaged in talks to exchange two captured military personnel, a "trade" carried out during 1962 (Polmar p.
EC was transformed into the European Union, which accomplished the Economic and Monnetary Union (EMU) in 2002, through introducing the Euro, and creating this way a real single market between 13 member states as of January 1, 2007.
Ebla was a prominent trading centre during the third millennia, with a network reaching into Anatolia and north Mesopotamia.
Empirical evidence for the success of trade can be seen in the contrast between countries such as South Korea, which adopted a policy of export-oriented industrialization, and India, which historically had a more closed policy (although it has begun to open its economy, as of 2005).
From the 8th to the 11th century, the Vikings and Varangians traded as they sailed from and to Scandinavia.
Importing firms voluntarily adhere to fair trade standards or governments may enforce them through a combination of employment and commercial law.
In 1776, Adam Smith published the paper An Inquiry into the Nature and Causes of the Wealth of Nations.
In 1799, the Dutch East India Company, formerly the world's largest company, became bankrupt, partly due to the rise of competitive free trade.
In 1817, David Ricardo, James Mill and Robert Torrens showed that free trade would benefit the industrially weak as well as the strong, in the famous theory of comparative advantage.
In ancient Greece Hermes was the god of trade (commerce) and weights and measures, for Romans Mercurius also god of merchants, whose festival was celebrated by traders on the 25th day of the fifth month.
In the mediterranean region the earliest contact between cultures were of members of the species homo sapiens principally using the Danube river, at a time beginning 35-30,000 BC.
In the sixteenth century, the Seventeen Provinces were the centre of free trade, imposing no exchange controls, and advocating the free movement of goods.
January 1, 1995 World Trade Organization was created to facilitate free trade, by mandating mutual most favoured nation trading status between all signatories.
John Stuart Mill proved that a country with monopoly pricing power on the international market could manipulate the terms of trade through maintaining tariffs, and that the response to this might be reciprocity in trade policy.
Numismatists have examples of coins from the earliest large-scale societies, although these were initially unmarked lumps of precious metal.
Obsidian is thought to have provided the material to make cutting utensils or tools, although since other more easily obtainable material were available, use was found exclusive to the higher status of the tribe using "the rich man's flint".
Protectionism is the policy of restraining and discouraging trade between states and contrasts with the policy of free trade.
Retail trade consists of the sale of goods or merchandise from a very fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser.
The Doha round began in Doha, Qatar, and negotiations have subsequently continued in: Cancún, Mexico; Geneva, Switzerland; and Paris, France and Hong Kong.
The Doha round of World Trade Organization negotiations aims to lower barriers to trade around the world, with a focus on making trade fairer for developing countries.
The Great Depression was a major economic recession that ran from 1929 to the late 1930s.
The ascendancy of free trade was primarily based on national advantage in the mid 19th century.
The earliest use of obsidian in the Near East dates to the Lower and Middle paleolithic.
The emergence of exchange networks in the primitive societies of and near to Mexico are known to have occurred within recent years before and after 1500 BC.
The fair trade movement, also known as the trade justice movement, promotes the use of labour, environmental and social standards for the production of commodities, particularly those exported from the Third and Second Worlds to the First World.
The fall of the Roman empire, and the succeeding Dark Ages brought instability to Western Europe and a near collapse of the trade network in the western world.
The lack of free trade was considered by many as a principal cause of the depression.
Trade exists for man due to specialization and division of labor, most people concentrate on a small aspect of production, trading for other products.
Trade is the transfer of ownership of goods and services from one person or entity to another by getting something in exchange from the buyer.
Trade sanctions against a specific country are sometimes imposed, in order to punish that country for some action.
Trading can also refer to the action performed by traders and other market agents in the financial markets.
Vasco da Gama pioneered the European Spice trade in 1498 when he reached Calicut after sailing around the Cape of Good Hope at the southern tip of the African continent.
When an inefficient producer sends the merchandise it produces best to a country able to produce it more efficiently, both countries benefit.
 Networks were in existence at around 12,000 BCE Anatolia was the source primarily for trade with the Levant, Iran and Egypt according to Zarins study of 1990.
 Wholesale trade is defined as the sale of goods or merchandise to retailers, to industrial, commercial, institutional, or other professional business users, or to other wholesalers and related subordinated services.
 Melos and Lipari sources produced among the most widespread trading in the Mediterranean region as known to archaeology.
 The material was most largely traded during the Kassite period of Babylonia beginning 1595 BCE.
 The concept of free trade was an antithesis to the will and economic direction of the sovereigns of the ancient Greek states.
 The Sogdians dominated the East-West trade route known as the Silk Road after the 4th century AD up to the 8th century AD, with Suyab and Talas ranking among their main centers in the north.
^ "O ye who believe! Eat not up your property among yourselves in vanities; but let there be among you traffic and trade by mutual good-will.
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^ N Polmar - Spyplane: The U-2 History Declassified Zenith Imprint, 14 Apr 2001 ISBN 0760309574 Retrieved 2012-06-28
^ P D Curtin - Cross-Cultural Trade in World History Cambridge University Press, 25 May 1984 ISBN 0521269318 Retrieved 2012-06-25
^ P Goldberg, V T Holliday, C Reid Ferring - Earth Sciences and Archaeology Springer, 2001 ISBN 0306462796 Retrieved 2012-06-28
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^ V Stefansson -Great Adventures and Explorations: From the Earliest Times to the Present As Told by the Explorers Themselves Kessinger Publishing, 30 May 2005 ISBN 1417990902 Retrieved 2012-06-26
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^ a b E Blake, A B Knapp, The Archaeology Of Mediterranean Prehistory, John Wiley & Sons, 21 Feb 2005, ISBN 0631232680, http://books.
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^ a b R L Smith, Premodern Trade in World History, Taylor & Francis, 2009, ISBN 0415424763, http://books.
^ secondary - P Singh Neolithic cultures of western Asia →  Seminar Press, 20 Aug 1974