International trade has been part of the world economy for thousands of years. Despite this long history, the importance of foreign trade was modest until the beginning of the 19th century—the sum of worldwide exports and imports never exceeded 10% of global output before 1800. Then around 1820 started to change quickly. Around that time, technological advances and political liberalism triggered what we know today as the ‘first wave of globalization.         This first wave of globalization came to an end with the beginning of the First World War, when the decline of liberalism and the rise of nationalism led to a collapse in international trade. But this was temporary, and trade started growing again after the Second World War. This second wave of globalization, which continues today, has seen international trade grow faster than ever before. Today, around 60% of all goods and services produced in the world are shipped across country borders. In just a few generations, globalization completely changed the world economy.           Nowadays, The

          Foreign Direct Investment (FDI) is a scheme used when any individual or company holds at least a 10% share of any foreign company. It is also described that the investment made by any individual or firm in countries apart from the country of their origin. FDIs are distinct from portfolio investments as they involve a long-term relationship and control of the investee’s company. Multinational corporations (MNCs) and multinational enterprises (MNEs) are two common names for foreign direct investors.           The main purpose of FDIs is to gain new markets and access to natural resources, labor, and technology. By investing directly in another country, companies are able to avoid the tariffs and other trade barriers between their home country and the target market. Additionally, FDI allows companies to benefit from the lower costs associated with production in developing countries. FDIs can be made through various mechanisms, such as setting up a new subsidiary or joint venture, acquiring an existing company, or investing in real estate.           In accordance with

     A public weary of virus precautions pushed up consumption of goods and services, but the longer-term picture is uncertain as the global economy weakens. Shoppers have poured back onto Tokyo’s streets in recent months.      TOKYO — Restaurants are full. Malls are teeming. People are traveling. And Japan’s economy has begun to grow again as consumers, fatigued from more than two years of the pandemic, moved away from precautions that have kept coronavirus infections at among the lowest levels of any wealthy country.      Lockdowns in China, soaring inflation, and brutally high energy prices could not suppress Japan’s economic expansion as domestic consumption of goods and services shot up in the second three months of the year. The country’s economy, the third largest after the United States and China, grew at an annualized rate of 2.2 percent during that period, government data showed on Monday. The second-quarter result followed the growth of 0 percent — revised from an initial reading of a 1 percent decline — during the first three months of the year when consumers

What is savings?           Saving is income not spent or deferred consumption. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or cash. Consumer spending is what households spend to fulfill everyday needs. This private consumption includes both goods and services. Saving is closely related to physical investment, in that the former provides a source of funds for the latter.           Economics is divided on the role of savings. Many economists believe that saving is a personal virtue but social vice. This is because if all the people start saving, the expenditure will go down. Since the current system measures GDP and economic growth based on expenditure, a higher savings rate makes it appear like the economy is not growing. In fact, it may appear like the economy is about to enter a recession. On the other hand, many economists do acknowledge that this GDP-based view of savings is incorrect. They refer to unanimity in all of economic history. No country in

        The U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday.           Gross domestic product fell 0.9% at an annualized pace for the period, according to the advance estimate. That follows a 1.6% decline in the first quarter and was worse than the Dow Jones estimate for a gain of 0.3%.         Officially, the National Bureau of Economic Research declares recessions and expansions, and likely won’t make a judgment on the period in question for months if not longer. But a second straight negative GDP reading meets a long-held basic view of recession, despite the unusual circumstances of the decline and regardless of what the NBER decides. GDP is the broadest measure of the economy and encompasses the total level of goods and services produced during the period. Quarterly change in U.S. gross domestic product  “We’re not in recession, but it’s clear the economy’s growth is slowing,” said Mark Zandi,

          Nowadays, Payment gateways have been used to accept purchases from customers, potentially growing the merchant business. It is a tool used by merchants to receive payments from customers which is cloud-based and it helps merchants receive online payments from customers. Moreover, a brick-and-mortar retail store’s payment gateway is a point-of-sale (POS) system. Globalization drives businesses to transact more frequently across borders. Consumers are also transacting more globally buying from foreign eCommerce sites and traveling, living, and working abroad. E-commerce and other online transactions are growing even more rapidly since the beginning of the COVID-19 pandemic, with particularly strong trends across many emerging markets. What is a payment gateway?           A payment gateway is a technology used by merchants to accept any payment method from customers provided by an e-commerce application service provider to which a merchant’s website or a physical point-of-sale POS system is connected. A payment gateway often connects several acquiring banks and payment methods under one system. It transmits transaction information virtually through web payment services and APIs or

          In early December 2021, Laos inaugurated the Boten-Vientiane railway, a 414-kilometer (km) electrified high-speed railway that runs between the capital Vientiane and the town of Boten through the Laos-China border of which the railway is built on a single track with passing loops and is electrified to China’s first Class trunk railway standards, suitable for 160 km/h passenger and 120 km/h freight trains, making Laos the first country to connect to the Chinese railway network using Chinese technology. An expectation of this project is, A railway link through Laos would greatly reduce cargo transit times and transportation costs between Laos and China. However, The cost of the railway has contributed to a $480 million increase in Lao debt to the Chinese Export-Import Bank. This has led to concern that Laos could fall into default on its debts.           This US$6 billion project (equivalent to one-third of Laos’ GDP) is backed by China as part of its Belt and Road Initiative (BRI) and is a sign of the deepening ties between the