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buying or selling securities or commodities
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Wikipedia
Trade is the voluntary exchange of goods, services, or both. Trade is also called commerce. A mechanism that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and services. Modern traders instead generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade.Trade exists for many reasons. Due to specialization and division of labor, most people concentrate on a small aspect of production, trading for other products. Trade exists between regions because different regions have a comparative advantage in the production of some tradable commodity, or because different regions' size allows for the benefits of mass production. As such, trade at market prices between locations benefits both locations. History of trade - main History of trade Trade originated with the start of communication in prehistoric times. Trading was the main facility of prehistoric people, who bartered goods and services from each other. Peter Watson dates the History of international tradehistory of long-distance commerce from circa 150,000 years ago.mnIdeas1501 Trade is believed to have taken place throughout much of recorded human history. There is evidence of the exchange of obsidian and flint during the stone age. Materials used for creating jewelry were traded with Egypt since 3000 BCE The Phoenicians were noted sea traders, travelling across the Mediterranean Sea, and as far north as Britain for sources of tin to manufacture bronze. For this purpose they established trade colonies the Greeks called Emporia (ancient Greek term)emporia.From the beginning of GreeceGreek civilization until the fall of the Roman empire in the 5th century, a financially lucrative trade brought valuable spice to Europe from the far east, including China. Roman commerce allowed their empire to flourish and endure. Their widespread empire produced a stable and secure transportation network that enabled the shipment of trade goods without fear of significant piracy.The fall of the Roman empire, and the succeeding dark ages brought instability to western europe and a near collapse of the trade network. Nevertheless some trade did occur. The Radhanites were a medieval guild of Jewish merchants who allowed trade between the Christians in Europe and the Muslims of the near east.From the 8th8th century to the 11th11th century centuries, the Vikings and Varangians traded as they sailed from and to Scandinavia. Vikings sailed to Western Europe, while Varangians to Russia. The Hanseatic League was an alliance of trading cities that maintained a trade monopoly over most of Northern Europe and the Baltic regionBaltic, between the 13th and 17th centuries. 's travels to the far east sparked an interest in the spice trade.]]Vasco da Gama started the Spice trade in 1498. The spice trade was of major economic importance and helped spur the Age of Exploration. Spices brought to Europe from distant lands were some of the most valuable commodities for their weight, sometimes rivaling gold. In the 16th century, Holland was the centre of free trade, imposing no exchange controls, and advocating the free movement of goods. Trade in the East Indies was dominated by Portugal in the 16th century, the Netherlands in the 17th century, and the BritainBritish in the 18th century. In 1776, Adam Smith published the paper ''An Inquiry into the Nature and Causes of the Wealth of Nations''. It criticised Mercantilism, and argued that economic specialization could benefit nations just as much as firms. Since the division of labour was restricted by the size of the market, he said that countries having access to larger markets would be able to divide labour more efficiently and thereby become more productive. Smith said that he considered all rationalizations of import and export controls "dupery", which hurt the trading nation at the expense of specific industries.In 1799, the Dutch East India Company, formerly the world's largest company, became bankrupt, partly due to the rise of competitive free trade.In 1817, David Ricardo, James Mill and Robert Torrens showed that free trade might benefit the industrially weak as well as the strong, in the famous theory of comparative advantage. In Principles of Political Economy Ricardo advanced the doctrine still considered the most counterintuitive in economics:: When an inefficient producer sends the merchandise it produces best to a country able to produce it more efficiently, both countries benefit.The ascendancy of free trade was primarily based on national advantage in the mid 19th century. That is, the calculation made was whether it was in any particular country's self-interest to open its borders to imports. John Stuart Mill proved that a country with monopoly pricing power on the international market could manipulate the terms of trade through maintaining tariffs, and that the response to this might be reciprocity in trade policy. Ricardo and others had suggested this earlier. This was taken as evidence against the universal doctrine of free trade, as it was believed that more of the economic surplus of trade would accrue to a country following ''reciprocal'', rather than completely free, trade policies.This was followed within a few years by the infant industry scenario developed by Mill anticipated New Trade Theory by promoting the theory that government had the "duty" to protectionismprotect young industries, although only for a time necessary for them to develop full capacity. This became the policy in many countries attempting to industrialize and out-compete EnglandEnglish exporters.The Great Depression was a major economic recession that ran from 1929 to 1941. During this period, there was a great drop in trade and other economic indicators.The lack of free trade was considered by many as a principal cause of the depression, and World War II. During the war, in 1944, 44 countries signed the Bretton Woods Agreement, intended to prevent national trade barriers, to avoid depressions. It set up rules and institutions to regulate the international political economy: the International Monetary Fund and the International Bank for Reconstruction and Development (later divided into the World Bank and Bank for International Settlements). These organizations became operational in 1946 after a enough countries ratified the agreement. In 1947, 23 countries agreed to the General Agreement on Tariffs and Trade to promote free trade.Free trade advanced further in the late 20th century and early 2000s: 1992 European Union lifted barriers to internal trade in goods and labour. January 11994 NAFTA took effect 1994 The GATT Marrakech Agreement specified formation of the WTO. January 11995 World Trade Organization was created to facilitate free trade, by mandating mutual most favoured nation trading status between all signatories. As of mid-2005, there is a proposal for a Central American Free Trade Agreement, which would also include the United States and the Domincan Republic.
Development of money - cleanup-section ''Main article: History of money''The first instances of money were objects with intrinsic value. This is called commodity money and includes any commonly-available commodity that has intrinsic value; historical examples include pigs, rare seashells, whale's teeth, and (often) cattle. In medieval Iraq, bread was used as an early form of money. denarius]]Currency was introduced as a standardized money to facilitate a wider exchange of goods and services. This first stage of currency, where metals were used to represent stored value, and symbols to represent commodities, formed the basis of trade in the Fertile Crescent for over 1500 years. Numismatists have examples of coins from the earliest large-scale societies, although these were initially unmarked lumps of precious metalmnOriginsOfMoney2 . Ancient Sparta minted coins from iron to discourage its citizens from engaging in foreign trade. The system of commodity money in many instances evolved into a system of representative money. In this system, the material that constitutes the money itself had very little intrinsic value, but none the less such money achieves significant market value through being scarce as an artifact.
See also - Silent trade Roman commerce The Silk Route, Amber Road and other trade routes slave trade, fur trade, cod trade The rise of banking History of international trade Merchant adventurers and trading companytrading companies: British East India Company, Muscovy Company, Virginia Company, Hudson's Bay Company and others Mercantilism Industrial Revolution, Second Industrial Revolution Capitalism Innovations in transport Colonialism and neo-colonialism Commodities, goods and intellectual property E-commerce Globalization Categories* en.wikipedia.org - Category:CurrencyWiktionary
Current trends -
Doha rounds - mainDoha round The Doha round of World Trade Organization negotiations aims to lower trade barrierbarriers to trade around the world, with a focus on making fair tradetrade fairer for developing countries. Talks have been hung over a divide between the rich, developed countries, and the major developing countries (represented by the G20). Agricultural subsidies are the most significant issue upon which agreement has been hardest to negotiate.The Doha round began in Doha, Qatar, and negotiations have subsequently continued in: Cancun, Mexico; Geneva, Switzerland; and Paris, France.
China - Beginning around 1978, the government of the People's Republic of China (PRC) began an experiment in economic reform. Previously the Communist nation had employed the USSRSoviet-style centrally planned economy, with limited results. They would now utilize a more market-oriented economy, particularly in the so-called Special Economic Zones located in the Guangdong, Fujian, and Hainan.The results of this reform has been spectacularly successful. By 2004, the GDP of the nation has quadrupled since 1978 and foreign trade exceeded $1 Trillion US. This occurred in spite of the backlash from the Tiananmen Square Massacre. The PRC maintains a $30 billion trade surplus, and is rapidly becoming a leader in industrial manufacturing.In 1991 the PRC joined the Asia-Pacific Economic Cooperation group, a free-trade organization. More recently, in 1999 they also joined the World Trade Organization.''See also Economy of the People's Republic of China
International trade - trade bloc International trade is the exchange of goods and services across national borders. In most countries, it represents a significant part of Gross Domestic ProductGDP. While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance have increased in recent centuries, mainly because of Industrialization, advanced transporttransportation, globalization, multinational corporations, and outsourcing. In fact, it is probably the increasing prevalence of international trade that is usually meant by the term !"globalization".Empi rical? evidence for the success of trade can be seen in the contrast between countries such as South Korea, which adopted a policy of export-oriented industrialization, and India, which historically had a more closed policy (although it has begun to open its economy, as of 2005). South Korea has done much better by economics economic criteria than India over the past fifty years, though its success also has to do with effective state institutions.Trade Sanctionssanctions against specific country are sometimes imposed, in order to punish that country for some action. An embargo, a severe form of externally imposed isolation, is a blockade of all trade by one country on another. For example, the United States has had an embargo against Cuba for about 40 years.Although there are usually few trade restrictions within countries, international trade is usually regulated by governmental quotas and restrictions, and often taxed by tariff tariffs. Tariffs are usually on imports, but sometimes countries may impose export tariffs or subsidysubsidies. All of these are called trade barriers. If a government removes all trade barriers, a condition of free trade exists. A government that implements a protectionismprotectionist policy establishes trade barriers.The fair trade movement, also known as the trade justice movement, promotes the use of labour, environmental movementenvironmental and social standards for the production of commodities, particularly those exported from the Third WorldThird and Second WorldSecond World's to the First World. Standards may be voluntarily adhered to by importing firms, or enforced by governments through a combination of employment lawemployment and commercial law. Proposed and practiced fair trade policies vary widely, ranging from the commonly adhered to prohibition of good (economics)goods made using slave labour to minimum price support schemes such as those for coffee in the 1980s. Non-governmental organizations also play a role in promoting fair trade standards by serving as independent monitors of compliance with fairtrade labelling requirements.
Organisation of trade - Patterns of organising and administering trade include: State control - trade centrally controlled by government planning.* Laws regulating Trade and establishing a framework such as Trade law, Tariffs, support for Intellectual property, opposition to Dumping. Guild control - trade controlled by private business associations holding either de facto or government-granted power to exclude new entrants.* In contemporary times, the language has evolved to business and professional organizations, often controled by Academica. For example in many states, a person may not practice the professions of Engineering, Lawyer, Law Enforcement, Medicine, Teaching unless they have relevant College Degree and may need a License issued by a national association of that profession. Free enterprise - trade without significant central controls; market participants engage in trade based on their own individual assessments of risk and reward, and may enter or exit a given market relatively unimpeded. Infrastructure in support of Trade, such as Banking, Stock Market, Technology in support of Trade such as Electronic Commerce, Vending Machines.
International organizations - European Common Market GATT = General Agreement on Tariffs and Trade G8 IMF = International Monetary Fund OPEC = Organization of the Petroleum Exporting Countries
Free trade areas - Free trade organizations or free trade areas* European Free Trade Association* Free Trade Area of the Americas* NAFTA = North American Free Trade Agreement* South American Community of Nations
United Nations umbrella - UNCTAD = United Nations Conference on Trade and Development WTO = World Trade Organization
Types of trade - Commodities Staples Luxuries Slave trade International trade Arms trade WholesaleWholesaling Retailer Stock exchange
Support for trade - Infrastructure* computers and Internet** e-commerce*** Search engine* Critical infrastructure** Accounting** Banking* Insurance* Public services** Police protection** Postal service* Public utilities** Telephone*** Fax*** Telephone directory* Translation* Transport** Highways** Railroads** Ship transport
See also - Balance of trade Balanced trade British timber trade Business Categories* en.wikipedia.org - Category:Currency Common market Comparative advantage Exchange rate free trade zone Globalization Illegal drug trade Import substitution international trade Lists* List of international trade topics offshore outsourcing offshoring Protectionism Public exchange trade barrier Trade bloc Trade fair Trading post Trade route Trade statistics Trade war trade war over genetically modified food World Trade Organization
Other use - Words like trade and trading are also applied, though imprecisely, to some exchanges that do not involve any payment or barter, but just a sequence of equivalent actions, as in trading licks.
Notes - mnbIdeas1501 Watson, Peter Title=Ideas : A History of Thought and Invention from Fire to Freud Publisher=HarperCollins Year=2005 ID=ISBN 0-06-621064-X Introduction.mnbOriginsOfMoney2 Gold was an especially common form of early money, as described in ex.ac.uk - Origins of Money and of Banking Davies, Glyn Title=Ideas : A history of money from ancient times to the present day Publisher=University of Wales Press Year=2002 ID=ISBN 0-70-831717-0
References - epub.wu-wien.ac.at - Working Paper Vienna University of Business and Economics: Trade amd Productivity
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Websites
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IKOS
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la Vetrina del fare
promozione e diffusione dei linguaggi artistici
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INDEX -Trading & Contracting co. for Precast & GRC
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AfroAmerica Network: Network Resources about Blacks, and their ancestors and descendents around the World.
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Truck Business
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Forex Terms
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GOing 1nce Auction Management Company
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NORINC (Qingdao) Intertrade Co., Ltd.
Trader of metallurgical materials and products.
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MoundReport.com
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Evolution of Trading: How Technology & Governance are Changing Finance in the 21st Century
June Klein wrote the book on electronic-trading, past, present & next chapter in global money business. Includes hybrid solutions in stock exchanges, research databases, technologies and corporate governance. Explains the Electronic-Boardroom TMVI(r) methodology for change, complexity and risk, launched at Oxford's International Conference, published and televised by Center for Study of Values in Education and Business.
http://www.evolutionoftrading.com/
Worldcoins and Banknotes from Axel
Collection of worldcoins, eurocoins and banknotes. Looking for coinsswap?!
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The Good Wine shop
on this site you will find a wine directory, information about french and kosher wines.
http://www.vineyards-direct.com
NIMARIA I.T.Co.
Since its foundation, NIMARIA I.T.Co. has grown to become one of Canada's leading integrated trading and consulting firms. Our aim is to become THE ONE AND ONLY source to satisfy our customers' every need. This can only become a reality when everyone associated with NIMARIA I.T.Co. shares this attitude and thus the customer becomes THE ONE AND ONLY as well. Once this is achieved, surely, we will be a new world leader in its field.
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Ati´s Tindersticks sites
Fansite with various subsites dedicated to the british band Tindersticks
http://www.tindersticks.de/
Equityrush
Equityrush offers short term courses in technical analysis and derivative strategies.
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Stock Trading Components
Modulus Financial Engineering supplies trading system APIs for investors in many programming languages such as VB, C++ and Java.
http://www.modulusfe.com/
Quick Term Timing
A free site that is updated after the close. Provides a graphical description of the current stock market sentiment. Graphs the half-hour put-call ratio from the CBOE and compares it to its normal ratio. Helpful in determining short term stock market direction for stock index traders.
http://www.qtt.com/
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Learn To Trade Commodities - Home Study Course Designed and Produced by Professional Systems Traders.
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FiberglassMart
Composites E Commerce Portal having composite industry web directory as well as a virtual trade floor for buying and selling. Also features latest news and events in the Composite Industry
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Nelss Timber Trading division
Nelss Ltd., is the biggest national timber Company in Latvia employing over 350 employees and is a leading sawmilling Comapny in Baltic States with a good reputation for quality products and unsurpassed customer service.
http://www.nelss.com/
Columbia Marine Aquarium Club
The Columbia Marine Aquarium Club (CMAC) is a registered Nonprofit Incorporation based out of Columbia, South Carolina. Our goal is to bring an outlet for the trading of captive-raised coral frags, an outpost for the trading of used marine aquarium equipment and dry goods, and a source for reef-related conversation to the Midlands of South Carolina and surrounding areas. At CMAC, we promote the purchase of net-caught livestock and other techniques that do not leave scars on the reefs of our blue planet. With that in mind, it is our goal to help create a more self-sustaining hobby for reef aquarists in all stages of the hobby - beginners, pros, and even those in all stages of the marine aquarium industry.
http://www.columbiamarineaquariumclub.org/
Office of Fair Trading
OFT. Regulates consumer protection and commercial activity.
http://www.oft.gov.uk/
The Learning Channel
Adventures for your mind.
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Melbourne Trading Post
If you're a Victorian, check out local ads and browse real estate, auto, animals, house and home, sport, garden, and computer sections.
http://www.trading-post.com.au/
Trading Standards Central
Resource for consumer protection information in the UK, supported and maintained by TSI (Trading Standards Institute).
http://www.tradingstandards.gov.uk/
Commodities Futures Trading Commission
CFTC website includes law, rules, and other information about commodities futures and trading.
http://www.cftc.gov/
eBay
International person to person auction site, with products sorted into categories.
http://www.ebay.com/
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