  Tools of the theory of critical phenomena, namely the scaling analysis and
universality, are argued to be applicable to large complex web-like network
structures. Using a detailed analysis of the real data of the International
Trade Network we argue that the scaled link weight distribution has an
approximate log-normal distribution which remains robust over a period of 53
years. Another universal feature is observed in the power-law growth of the
trade strength with gross domestic product, the exponent being similar for all
countries. Using the 'rich-club' coefficient measure of the weighted networks
it has been shown that the size of the rich-club controlling half of the
world's trade is actually shrinking. While the gravity law is known to describe
well the social interactions in the static networks of population migration,
international trade, etc, here for the first time we studied a non-conservative
dynamical model based on the gravity law which excellently reproduced many
empirical features of the ITN.
