How did the traders function?
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merchent is the traders function
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When we think about international trade, we traditionally think about a person or company producing all elements of a product in their home country and then exporting a final product to a consumer in a different country. This type of trade, however, only represents about 30% of goods and services trade today; the majority of trade (70%) is actually in intermediate parts, components, and services that form segments of global value chains (GVCs). The process of producing goods is often spilt across countries, with different elements carried out wherever the necessary skills and materials are available at competitive cost and quality.
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