With the boons of technological progress spreading every nook and corner of the globe, Globalization has been a dominant force for several decades. Globalization has winners and losers. International trade, foreign direct investment, and trans-boundary flow of goods, services, and capital are few of the many facets that characterize the process of globalization. Thus, a volume addressing such issues is quite essential for readers. This volume is a collection of thirteen contributed chapters on the current international trade scenario, its evolution over the years, and its global impact on developed and developing economies. Most importantly, it deals with a range of issues related to global financial crisis and its aftermath affecting global trade and the players in the international market. As the crisis unfolded, trade has suffered a setback and we saw a shift in global trade. In particular, we saw the emergence of developing nations and gradual erosion of dominance of developed countries. This book covers these aspects. The valuable contributions by the authors look at these problems in global macro economy from different angles—theoretical and empirical—to offer a cogent view of the current situation facing us. The chapters offer theoretical viewpoint as well as applied perspectives on many facets of crisis and trade in the global economy. Chapters are organized into three distinctive, but interrelated thematic parts: Part I introduces the recent trade issues and scenarios of global trade, and its implications for development. Part II extends the discussion in terms of exhibiting how methodological advances in theory and empirics could be utilized to handle complex phenomenon of trade. Gravity model, Constant Market Shares analysis, Heckscher-Ohlin, Dornbusch-Fischer-Samuelson Neo-Classical model, Time Series analysis are techniques and theoretical rigors that are used in these important articles. Part III offers important articles on applied general equilibrium methods for analyzing issues like import trade share during structural adjustment, energy policy analysis, regional economic modeling, and trade-technology nexus for economic growth and development. Selection of authors from different part of the world—developed, emerging, and developing economy—facilitate rich texture of argument and enrich the content of the book. This book is not for being shelved, but a valuable addition for those researchers, academicians, and graduate students who want to engage themselves in the policy debate, contribute to the policy analysis, and add value by offering an alternative theoretical and methodological angle. (Imprint: Nova)