International Trade, FDI, and the Austrian School of Economic Thought

International trade has been a key area of concern for businesses. The recent technological advancements have enabled the development of a global market place through which transactions can be carried out across wide geographical coverage. This has reduced the world's individual markets into an integrated global village. The spread of businesses outside their local boundaries through foreign direct investment has been mainly enhanced by the desire to satisfy the consumers' needs thus achieving the requirements of the Austrian Economic School of Thought. The development of international trade has caused an overall rise in the rate of economic growth.