> The first thing to understand about trade is that it is always beneficial for both parties. Not true. There can be winners and losers in 'trading' and usuall

> The first thing to understand about trade is that it is always beneficial for both parties. Not true. There can be winners and losers in 'trading' and usually there are. For example, the native americans and europeans being a prime example. > Because each side can simply decline a transaction that doesn't help them. Not if one side is much stronger and liable to invade or punish you. The past 500 years is essentially a story of europeans invading/'exploring' to get better 'trade terms' from natives, africans, indians, chinese, ottomans, japanese, etc. The biggest winners of trade in the last 500 years were europeans and the biggest losers are everyone else.