At 2 a.m. on October 12, 1492, 33 days after setting sail from the Canary Islands, the sailor Rodrigo de Triana spotted land to the west, which Christopher Columbus called the island of San Salvador ("Holy Savior"). A boat was lowered from the ships and Columbus, along with two other captains, a notary and a royal comptroller, disembarked...

Author: Lachezar Bogdanov, Industry Watch The openness of an economy is most often measured by the relative importance of foreign trade relative to its size. Some analyses look at the total volume of trade in goods and services relative to gross domestic product, while others focus on the relative weight of exports of goods and …