Title: Why is trade so important to the world today? - Quora
Headings: Why is trade so important to the world today?
Why is trade so important to the world today?
Anonymous

Content: It allows countries, communities and individuals to specialize in something and become increasingly productive. If Chinese economy didn't have some specific technology or know-how to build a product and US has it then trade allows China to purchase those goods made by US companies. Similarly if labour related to specific industry is expensive in US and the same labour is available abundantly and cheaply in China, then it makes sense for companies to hire people in China because that will bring down the cost and will result in inexpensive goods for US and Chinese consumers. International trade allows for the best and most productive allocation of resources. In the absence of trade French wine industry would collapse and so would Indian IT industry. Angel Lam
, Communications at World Bank Group
Answered 3 years ago · Author has 137 answers and 893.5K answer views
Trade is important because all countries have limited resources to respond to their people's needs. So countries trade with one another to complete each other's needs. It became more important to the world today because the needs have since not just evolved, but also increased. People desire more. As trading in the traditional sense such as barter was phased out, trading by way of doing business and transacting with real money kicked in.