
Foreign Exchange Market and Balance of Payments in Foreign Trade (Growth, Pandemic, Global Inflation, Exchange Rate Volatility)
Chapter from the book:
Ertürkmen,
G.
(ed.)
2025.
Macroeconomic Mind Theory, Policy, Dynamics.
Synopsis
In the study where we examine the economic dimension of foreign trade, we have the opportunity to examine the basic concepts of foreign trade and how it will proceed in the coming years in the light of recent developments. The possibility of foreign trade to bring countries closer together and to bring them together even in the initial stages of production creates an important opportunity for economic growth and development. Freer trade relations to be established worldwide are of great importance in solving the most basic economic problem such as the efficient use of resources. Although increasing nationalism and the economic protection policies that have emerged as a result of this seem to be in favor of the country that implements them in the short term, it is obvious that they will have negative effects on the economic life of all countries and the country that implements them in the long term. As J.M. Keynes, one of the famous economists of the time, said, “In the long run, we are all dead,” it is necessary to analyze it well. Temporary or instant solutions may seem like a good policy in the short term, but in the long run, they can kill us all.