Updated: Jan 6, 2021
We are told that trends will be the end of us. We are told that being trendy makes you less of a
creator. We are told trends are cheap and, well, a "trend." None of this is true. The world we live
in right now works with documentation of progress, experimentation and connecting with people
in the very moment; Which, termed in shorter words, is, in fact, a trend.
Economics is an art of its own has its own set of trends. As far as history goes, the first trade
used to take place through cowrie shells, then barter system now credit cards and bitcoin are seen
as common modes.
An economic trend is an indicator that shows how a region or country is doing financially. The
U.S. economy is almost always part of the news in this case. An early form of trade, barter, saw
the direct exchange of goods and services for other goods and services. Barter involves trading
things without the use of money. When either bartering party started to involve precious metals,
these gained symbolic and practical importance, and modern traders started to negotiate
through a medium of exchange, money.
In one modern view, trade exists due to specialization and the division of labour. Intense
competition among countries, industries, and firms on a global level is a recent development
owed to the meeting of several major trends. among these trends are:
The Doha round of World Trade Organization negotiations aimed to lower barriers to trade
around the world, with a focus on making trade better for developing countries. The Doha round
began in Doha, Qatar, and negotiations were continued in Cancún, Mexico; Geneva,
Switzerland; and Paris, France and Hong Kong.
2.The China trend:
Beginning around 1978, the People's Republic of China (PRC) government began an
experiment in economic improvement. The new measures progressively relieved restrictions on
farming, agricultural distribution, and urban plans and labour several years later. One feature
was the establishment of four (later five) Special Economic Zones along the South-east coast.
The economy doubled in size between 1978 and 1986, doubled again by 1994, and again by
2003. International trade progressed even more rapidly, doubling on average every 4.5 years.
The "fair trade" movement, also known as the "trade justice" movement, encourages the use of
labour, environmental and social measures for the production of products. Such ideas have also
sparked a debate on whether trade itself should be classified as a human right.
With globalization and digitalization, economics has come a long way. Economics being a rather
the vast subject now has new trends that cohere to priorities and situations of the 21st-century world.
Some economic trends of the current world include changing consumption costs, the rise of
corporate superstars and the rise of trade within Asia due to which consumption is growing. The development of trends in economics helps the world economy stand in balance with the
developing world and improve what past trends lacked.