22 lines
776 B
Markdown
22 lines
776 B
Markdown
<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-4-chapter-03 -->
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# Round-about Foreign Trade of Consumption
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## Definition
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A trade pattern where a country imports goods by first exporting its own products to a third country, receiving payment in precious metals, then using those metals to purchase the desired imports. This contrasts with direct trade where imports are paid for with domestic exports.
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## Source Chapter
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Book IV, Chapter 3
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## Context
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Smith argues that round-about trade is less advantageous than direct trade, using the example of England potentially importing French goods through tobacco and East India goods rather than through direct English manufactures.
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## Economic Domain
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Exchange
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---
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