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The results from this contributed to countries raising trade barriers against one another and continued towards what is known as the Great Depression. After World War II, the GATT (General Agreement on Tariffs and Trade) worked to lower barriers to the free flow of goods and services. The lowering of trade barriers led to the globalization of production and market. According to "CSIS Globalization 101-Trade and Globalization," the volume of world trade since 1950 has increased from $320 billion to $6.8 trillion. The trade of manufactured goods exceeds the increase of the rate of production of these goods by three times...
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