Views evolution on the foreign trade nature for the formation of state foreign trade policy

Abstract

The purpose of the article is to consider Views evolution on the foreign trade nature for the formation of state foreign trade policy. The countries specialization in the production of certain goods that has developed in the modern world economy and the international division of labor based on it, based on the analysis of theoretical views on the nature of foreign trade, really collectively contributes to the development of the world economy. The main reason for this circumstance is the nature of specialization associated with the presence of excess production factors in the country, which make it possible to reduce costs and produce globally competitive products. At the same time, despite the fact that with such a division of labour, the world economy as a whole functions more effi ciently, the economies of individual countries participating in such a division can develop in diff erent ways. The key, from the point of view of ensuring long-term economic growth, in this regard, will be the subject of specialization of a particular country. So if it specializes in the production of products with high added value (the degree may vary depending on whether such products are high-tech, innovative or standardized industrial), the positive effect of its specialization will be maximum. At the same time, with the country’s international specialization in the production of raw materials, in the long term, the economic growth rate in it will decrease, and it will become poorer in general. In addition, the country’s large endowment with available natural resources, in the absence of reasonable state regulation of foreign trade relations, determines its place in the international division of labour as a supplier of raw materials. The above proposals can be applied by state executive, legislative and judicial authorities, as well as educational institutions in the educational process.