Mises Daily
Author:
Hans F. Sennholz
Online Publish Date:
The barriers to international trade continue to fall, and “globalization” is moving ahead. According to the World Trade Organization (WTO), the volume of trade is increasing at an annual rate of more than 6 percent, now exceeding $5 trillion. Some 60,000 “transnational” companies with more than 500,000 foreign affiliates are investing annually