Free Trade Agreements Reshape Global Economy, Impacting Jobs and Industries
This article discusses how global trade impacts economies, especially focusing on Germany's growth due to foreign markets. The researchers examine how trade barriers influence job markets and skill requirements. The study shows that world trade has increased, partly due to fewer trade barriers and more trade agreements. On average, global tariff rates have decreased to 2.6%. The World Trade Organization oversees international trade rules to promote fair and free trade among its 164 member countries.