Analysis on New Characteristics of International Division of Work and the Advantages and Disadvantages of China's Commercial Industry's Entry into WTO

摘要

Economic globalization is in fact the expansion of market scale due to the decrease of global transaction cost. The international division of work has exhibited some new characteristics because production resources can be easily organized under the influence of global trade, production and capital flow. It is pointed out in this article that, taking the case of commercial industry as an example, we should view international division of work from different angles. More international direct investments instead of indirect division of work through international trade will bring great challenge to enterprises in developing countries.