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TheChangeStructureofWorldOutputandTradeSincetheendoftheWWⅡ,theworldhasexperiencedaperiodofextremelyrapideconomicgrowth.Onaverage,worldoutputhasgrownatafasterratethaninanyotherperiodofhistory.Amajorcauseofthegrowthinoutputhasbeentherapidgrowthofworldtrade.Throughoutthisperiod,worldtradeconsistentlygrewfasterthanworldoutput.Thisfasterexpansionoftraderelativetooutputhasthreeimplications.1.Thetradehasbeengrowingfasterthanoutputimpliesanincreaseinthedegreeofinternationalspecializationbetweencountries.2.Italsoimpliesthatthosecountriesthathavesharedintheprocesshavebecomeincreasinglyinterdependent.“shocks”fromoneparttootherparts3.Atthesametime,thegrowthofworldtradehasbroughtimportantchangesinthestructureorcompositionofworldtrade.-----Firsttherearesomeimportantchangesinthegeographicalcompositionofworldtrade.Thisshowstheshareofworldtradeaccountedforbyadifferentcountriesorregions.------Second,structuralshiftshavealsotakenplaceinthecommoditycompositionofworldtrade.------Third,thegrowthofservicetradehasbeenrapid.LearningGoalsKeyWordsFinishedmanufacturesThefinalproductswhichhaveundertakenthecompleteprocessofproductionSemi-finishedmanufacturesTheproductswhichhavebeensubjecttoadegreeofprocessingbutwhichmustpassthroughfurtherstagesofmanufacturingbeforethegoodisinaconditionforsaletotheultimatebuyerIntermediategoodsTheproductswhichareusedtoenterintotheproductionofothergoods.Featuresofthepost-warworldoutputandtradeInternationalTradeReasonsbehindfastgrowthofworldtradeEventsCausedFluctuation
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