Problem:
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 agricultural and primary-products (including raw materials). How would you explain this in terms of broad historical developments during this period?
In the past half century, the developing countries have experienced major compositional shifts from exports of primary products (including agricultural and raw materials) to exports of manufactures. How might you explain this in terms of broad historical developments during this period?
The Services sector has been steadily rising in relative importance in GDP of the United States, as well as elsewhere around the world. Since "services" have been identified as "non-tradables" (e.g. it is difficult to export haircuts), it may be argued that this trend will likely slow the rapid growth in international trade. Discuss.