Globalization and Economic Partnerships Effects on International Trade with Reference to Sudan
Development Economics Journal, Vol. 3, No. 74, April 14, 2011
22 Pages Posted: 1 Apr 2011 Last revised: 9 Jul 2014
There are 2 versions of this paper
Globalization and Economic Partnerships Effects on International Trade with Reference to Sudan
Date Written: March 30, 2011
Abstract
Obvious contradictions and inconformity are manifested in two different worlds: a rich wealthy world, and a poor impoverished one. Economic inconformity is assured by many proving that the minority rich does not exceed 20% of the world population that retains the remaining 80% of the world economic resources and wealth. That leaves rest majority population less than 20% of resources and wealth. On the other hand the new global economic system deepens that economic variation not only between countries, but even between persons and communities. Global economic imbalance result from resources conflicts and wars generated by disparities and threatens necessary stability for feasible development. Advanced industrialize countries have responsibilities with international economic relations. However, that is an accumulated of trade imbalanced relations between various humanitarian communities. The situation creates economic imbalance that make a loser side of developing countries. They take the burden of seeking a solution and efforts in this race by first getting rid of the political and economic conflicts. The required diversification necessitates forming economic relations between themselves, hence themselves and advanced countries. The diversifications result in a complete change of different communities through international economic relations and move forward to form multilateral economic relation instead, establishing common markets and regional economic bodies. With the new millennium the international economy entered complicated stages that huge economic alliances, global financial markets, and monetary financial union such as European Union were set up. The analysis of economic relationships and their forms is carried out in order to reveal impacts on aggregate international economy and explore economic engines that can deepen the interdependence between all international economic combinations and how to conform a better way between the common interest of different countries. The case study on Sudan stands to embody the model of economic alliance between developing and rich countries and answer which is better. International economic relations apply to the regional economic gathering system as an amalgamated economic unions or bilateral economic partnership. The basic question of imploring possibilities to make conformity economic partnership between developing and rich countries is presented and how the international economy look on the long run whether such partnership can be established or not.
Note: Downloadable document is in Arabic.
Keywords: International Trade, Globalization, Disparities, Developing Countries, Economic Partnerships
JEL Classification: F00, F1, F2, F10, F11, F12, F13, F14, F17, F18, F30, F40, F41, F42
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