World Market

The place where commodities and services are exchanged among the countries on a world-wide scale, the sum total of national markets interconnected worldwide and the markets between countries. The world market is as much an economic concept as it is a geographical and historical concept. The formation and development of the world market is a historical process. It began in the 15th-17th centuries with the great geographical discoveries and took shape in the late 19th and early 20th centuries.

The world market is based on the domestic market and is conditioned and affected by the economic and political relations of each country. The contemporary world market is of major significance for improving the domestic economic structure, furthering the optimization of the domestic market, and pushing forward the development of world economy.