Commercial liberalism is a branch liberal international relations theory which states that promoting free trade and economic interdependence is the road to peace, and is advocated by global financial institutions and multinational companies. Liberalism holds that state preferences rather than state capabilities are the primary determinant of state behavior Free trade is a system in which the trade of goods and services between or within countries flows unhindered by government-imposed restrictions Economic interdependence is a consequence of specialization or the division of labor and is almost universal Along with the democratic peace theory, is the core of many Western countries' foreign policy. The democratic peace theory (or liberal peace theory or simply the democratic peace) holds that democracies &mdash usually liberal democracies
References
*The Globalization of World Politics. John Balis, Steve Smith (2006). ISBN 0-19-927118-6
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