Mercantilism refers to an economic policy or trade system wherein a country focuses on maintaining a favorable trade balance by maximizing exports and minimizing imports with other countries. Its purpose is to empower a nation via wealth and resource acquisition while improving its military and political might. As one of the earliest trade policies, mercantilism played a critical role in guiding countries’ international trade. So what is its historical background? What are the major characteristics and examples of mercantilism? Why did it decline after the 18th century and rise again in recent years? In this video, I will discuss these questions with you.

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