Mercantilism can be said to be the first theory of international trade (Shenkar, Luo, Chi, 2004, p. 17). According to the mercantilist doctrine, countries should export more than they import. World wealth (gold or silver stock) is constant and cannot be increased. Therefore, there is always a contradiction among the foreign trade countries. Mercantilism is
an economic theory that holds that the prosperity of a nation is dependent upon its supply of capital, and that the global volume of international trade is “unchangeable”