Rapid Changes of International Trade Flows Geography. An Approach Grounded on the Knowledge-Based Economy Concept
Author:Silviu Neguţ
JEL:A12, A23, F10, F16
DOI:
Keywords:international trade, international trade flows, competitiveness, knowledgebased
economy.
Abstract:
After the Second World War international merchandise trade has known an impressive
rising trend: from 121 bn. USD in 1948 to 25.172 bn. USD in 2009, which means a rise by
210 times, being therefore the economic sector with the most spectacular development.
International trade – considered to be the right indicator of a country’s economy – has
become one of the major factors of economic development mainly due to the knowledgebased
economy. Except for the economic development (translated into high levels of
production and productivity, expressed by high figures of GDP), the effect of knowledge
has been registered by exports, by their dynamics and high level of foreign markets
penetration. It is therefore relevant that three small countries and provinces (the
Netherlands, Hong Kong – province of Peoples Republic of China and Singapore) in terms
of territory and population are among the first fifteen global exporters (with a percentage of
exports ranging from 2,2% and 4%), in contrast with larger countries in terms of surface
and population, which play an insignificant role in international trade. These small
countries/provinces represent relevant models of using information technology and modern
communication, fundamental elements of a knowledge-based economy. Thus, they are very
competitive on the global market (the key factor of success). In this paper we argue that
humankind is in a transitory phase from industrial economy to knowledge-based economy
(in this sense the oil trade is a very good example, as the most traded merchandise).