Textbook: Hill, Charles, W. L. & Hult. G. T. (2019). International business: Competing in the international marketplace (13th ed.).
Chapter Six: International Trade Theory.
Global trade theory tells us that the best exports for countries are those commodities they product the cheapest and in the greatest abundance. With technology constantly changing, this would include services as well as products. Governments play a big part in controlling their global trade, including maintaining a stable currency, favorable import duties, growing market demand, and supportive government regulation.
