Global Trade, One of the major consequences of economic globalization is an increase in trade among nations. The figures below show imports and exports for four of the world's largest economies. 1960–2009 2.5 1.6 1.4 2.0 1.2 1.0 1.5 0.8 1.0 0.6 0.4 0.5 0.2 星 U.S. Germany U.S. Germany China Japan China Japan FIGURE 31.3 FIGURE 31.4 Imports, 1960-2009 Exports, 1960-2009 so0z 0007 0661 1985 0861 Exports (trillions in U.S. dollars) 2010- 2005 0007 1970 $961 0961 Imports (trillions in U.S. dollars)
Global Trade, One of the major consequences of economic globalization is an increase in trade among nations. The figures below show imports and exports for four of the world's largest economies. 1960–2009 2.5 1.6 1.4 2.0 1.2 1.0 1.5 0.8 1.0 0.6 0.4 0.5 0.2 星 U.S. Germany U.S. Germany China Japan China Japan FIGURE 31.3 FIGURE 31.4 Imports, 1960-2009 Exports, 1960-2009 so0z 0007 0661 1985 0861 Exports (trillions in U.S. dollars) 2010- 2005 0007 1970 $961 0961 Imports (trillions in U.S. dollars)
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 20CTQ: You just overheard your friend say the following: Poor countries like Malawi have no absolute...
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Question
1. Notice how U.S. imports rose at roughly the same rate as
those of other countries until the 1970s. What accounts for
the acceleration of U.S. imports thereafter?
2. China’s exports rose spectacularly after the 1990s. Germany
increased its exports in this period dramatically as well. What
evidence do you see here for increasing competition for the
United States in a globalizing economy?
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