When comparing the composition of world trade in the early 20th century to the early 21st century, we find major compositional changes. These include a relative decline in trade in agricultural and primary-products (including raw materials). How would you explain this in terms of broad historical developments during this period?

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When comparing the composition of world
trade in the early 20th century to the early
21st century, we find major compositional
changes. These include a relative decline in
trade in agricultural and primary-products
(including raw materials). How would you
explain this in terms of broad historical
developments during this period?
Transcribed Image Text:When comparing the composition of world trade in the early 20th century to the early 21st century, we find major compositional changes. These include a relative decline in trade in agricultural and primary-products (including raw materials). How would you explain this in terms of broad historical developments during this period?
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