Why was long distance trade in exotic goods such an important phenomenon in north america, europe, and africa?

Long distance trade allow each country from every corner of the world to exchange the resource in which they have a competitive advantage, with another resource that is really hard to produce in their countries. This resulted in: 
- it allowed transference of new ideas, food, animals, etc. to and from each part of the world
- helped impact the Renaissance
- supported economy
- improved societies through gain of technology/weapons/livestock
- destroyed societies through wars or disease or cultural loss