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During the earliest human civilizations, trade was based on barter, the direct exchange of goods or services without the use of money. Communities were small, and trade occurred between people who knew each other directly, allowing commercial relationships to be based on trust and mutual need.

• Emergence of agricultural settlements.

• Need to exchange surpluses (e.g., grain for tools).

• Emergence of the first local trade routes.

Importance: This type of trade allowed for labor specialization and the development of more complex social structures.

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With the Industrial Revolution, global trade was profoundly transformed. Factories enabled mass production, and advances in transportation (railways, steamships) facilitated the international distribution of products. The global market as we know it today emerged.

• Invention of the steam engine, power loom, and other technologies.

• England led the process, followed by Western Europe and the United States.

• Expansion of colonialism to obtain raw materials.

Significance: Modern international trade was born, based on industrial capitalism, global supply and demand, and complex financial systems.

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The consolidation of trade routes such as the Silk Road and the Spice Routes connected Asia, Africa, and Europe in a transcontinental trade network. These routes allowed for the exchange not only of products, but also of ideas, religions, technologies, and cultures.

• Rise of empires such as the Ottoman, Mongol, and Chinese Empires.

• Trade in silk, spices, porcelain, gold, and slaves.

• Establishment of European trading companies (such as the British East India Company).

Significance: An early global economy emerged, where the products of one region could influence the economy and culture of another thousands of miles away.

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During the Middle Ages, trade evolved with the emergence of trade fairs, craft guilds, and urban growth in Europe. With the Renaissance, there was a renewed interest in exploration and knowledge, which fueled maritime expansion and the beginning of colonial trade.

• Europe recovers after the fall of the Roman Empire.

• Emergence of regional land and sea routes.

• Explorations by Portugal and Spain to Africa, Asia, and the Americas.

Significance: The foundations for a primitive international economy are laid, and commercial capital begins to accumulate.

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With the development of agriculture and the first cities in Mesopotamia, Egypt, China, and India, organized markets emerged. Primitive currencies and accounting systems such as clay tablets began to be used. Trade now included luxury goods (such as jewelry and spices) and necessary goods (such as grains and metals).

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During the Middle Ages, trade declined in Europe due to wars and instability. However, local markets and annual fairs began to grow as centers of exchange. Guilds regulated products and prices. Cities grew around trade.

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Great Geographical Discoveries

European expansion to the Americas, Africa, and Asia completely changed global trade. New sea routes were opened and transatlantic trade began, incorporating the Americas as a new commercial hub.

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International agreements and organizations (1945 onwards)

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International agreements and organizations (1945 onwards)

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After World War II, institutions such as the GATT and later the World Trade Organization (WTO) were founded to regulate trade and prevent conflicts. Regional blocs such as the European Union and Mercosur also emerged.

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DIGITAL AGE AND GLOBAL TRADE (1990–presente)

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DIGITAL AGE AND GLOBAL TRADE (1990–presente)

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The internet, digitalization, and global supply chains have completely transformed commerce. E-commerce, fintechs, and the global consumer have emerged. Today, commerce faces challenges such as climate change, automation, and the need for fair and sustainable trade.