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Incluye bibliografía

I. The Trade Situation in 2007. A. Introduction. B. Real merchandise trade and outpu development in 2007. C. Nominal trade developments in 2007 | II. Trade in a globalizing world. A. Introduction. B. Globalization and trade. 1. Trends in globalization. 2. Main drivers of globalization. 3. Public attitudes to globalization. C. The causes of trade. 1. The traditional approach: gains from specialization. 2 New trade theory: gains from economies of scale, product variety and increased competition. 3. Recent development: productivity gains. 4. Dynamic gains. 5. Conclusions. D. Trade, the location of production and the industrial organizatioin of firms. 1. Falling international trade costs. 2. Geographical concentration. 3. International fragmentation of production. Conclusions. Tecnical appendix. E. Distributional consequences of trade. 1. Trade and inequality. 2. Trade and structural adjustment. 3. Trade and popveerty. 4. Conclusions. F. Policy implications of global integartion and the WTO. 1. Introduction. 2. Addressing trade costs ans supply constraints. 3. Dealing with the social consequences of liberalization. 4. Do all countries gain from trade? The role of technology. 5 Conclusions.