Change: There were only format changes (bold, italics, etc.) in this version. See this version for details. (Word count: 386)

Change: China has become an important participant in world trade. The reason is that China has increased its reliance on the market system, and reintegrated with Hong Kong, an active participant in international trade. China is currently experiencing a remarkable economic growth, and its total output nearly doubles every 8 years.   View changes from previous version. (Word count: 330)

Change: when one nation relies heavily on imports from other nations. (America) world trade is a "two-way street" a nation must both export and import goods and services for the international linkages to be effective. Trade Patterns: trade deficit- when imports exceed exports trade surplus- when exports exceed imports Rapid   View changes from previous version. (Word count: 219)

Change:  convenience for traders. Decline in tariffs: have generally fallen since 1940. Because of lowered tariffs, international trade has increased. Participants in IntternationalInternational Trade Top participants: US, Japan and Western Europe Multinational corporations: firms that produce and distribute significantly in other countries New participants: China   View changes from previous version. (Word count: 203)

Change:  as well as absolutely based on dollar amounts of exportspattern: Dependence:world trade is a "two-way street" a nation must both export and import goods and services for the international linkages to be effective. Trade Patterns: trade deficit- when imports exceed exports trade surplus- when exports exceed imports   View changes from previous version. (Word count: 148)

Change:  transportation cost is cost that needs for transporting products from firms to households. As firms have higher cost of the transportation, they have lower benfit. But wih the development of transportation technology, now there are many different kinds of transportation. (example : plane, car, rail, and etc) Communications technology:   View changes from previous version. (Word count: 85)

Change: Volume and Pattern:Dependence:Trade Patterns:Rapid Trade GrowthTransportation technology:Communications technology:Decline in tariffs:Participants in Intternational TradeUS, Japan and Western Europe:New participants:   View changes from previous version. (Word count: 27)