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Notice that there is little mention of the U.S. importing food or agriculture. What does that say about America’s farmers? 5. Why do so many of Mexico’s and Canada’s exports go to the U.S? What problems could that create for their economies?

Notice that there is little mention of the U.S. importing food or agriculture. What does that say about America’s farmers? 5. Why do so many of Mexico’s and Canada’s exports go to the U.S? What problems could that create for their economies?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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4. Notice that there is little mention of the U.S. importing food or agriculture. What does that say about America’s farmers? 5. Why do so many of Mexico’s and Canada’s exports go to the U.S? What problems could that create for their economies?
econedlink www.econedlink.org Coppright Council for Economic Edu COUNCI Econc Educa oming and Going: Imports and Exports Throughout the World N pna Further background: China primarily exports electrical equipment. This would include computers and optical and medical equipment. It's also a big exporter of low-cost apparel, fabric, and textiles. A lot of China's exports are manufactured products made for U.S. companies. These companies pay to ship raw materials to China. There the low-cost factory workers process the materials into the final product. The top import categories in 2017 were: electrical machinery ($147 billion), machinery ($110 billion), furniture and bedding ($32 billion), toys and sports equipment ($26 billion), and plastics ($16 billion). Almost 75 percent of Canada's exports go to the United States. Canada has abundant supplies of oil, gas, and uranium. Its main exports include oil, vehicles and wood. The top import categories in 2017 were: mineral fuels ($73 billion), vehicles ($56 billion), machinery ($21 billion), special other (returns) ($14 billion), and plastics ($11 billion). Mexico sends even more of its exports to the United States (78 percent). Mexico's No. 1 export is manufactured products, for many of the same reasons as China. Its main exports are vehicles, machinery (including computers), oil and furniture and bedding. The top import categories in 2017 were: vehicles ($84 billion), electrical machinery ($62 billion), machinery ($54 billion), optical and medical instruments ($14 billion), and mineral fuels ($11 billion). Japan's biggest export to the United States is fuel-efficient and reliable automobiles, like Toyotas and Hondas. It also supplies machinery, medical instruments, and aircraft parts. The top import categories in 2017 were: vehicles ($51 billion), machinery ($31 billion), electrical machinery ($17 billion), optical and medical instruments ($6.7 billion), and aircraft ($4.0 billion). Germany's biggest export to the United States is high-end automobiles, like BMW, Porsche, and Mercedes-Benz. It also exports pharmaceuticals, machinery, and equipment. Germany exported more to the U.S. than any other country it trades with. In 2017 the top import categories were: 20% vehicles, 9.3% packaged medicines, and 4.9% vehicle parts. An increasing number of German cars are being assembled in the U.S. The U.S. exports a lot of soybeans, meat and poultry to the world. America is the number one producer of civilian aircraft and aircraft engines. The U.S. exports a lot of auto parts, engines and car tires to assembly plants in other countries (Canada and Mexico mostly). In addition, the U.S. exports crude oil, fuel and other petroleum products like chemicals. • The U.S. is both an importer and exporter of crude oil for two reasons. First, not all crude oil is the same and some of the crude produced in the U.S. is better suited for products in other countries. Second, not all of the U.S. produced petroleum products can get to all parts of the U.S. efficiently. The oil is refined in the middle of the country but pipelines don't always reach the coasts (especially Florida, New England and Oregon). (Source: U.S. Census) econedlink www.econedlink.org Copyright Council for Econamic Fdu COUNCI oming and Going: Imports and Exports Throughout the World Есon Educa Nee Directions: Use your understanding of specialization and comparative advantage to answer the following questions. 1. Why does China specialize in making low cost apparel and the U.S. specialize in civilian aircraft?
Transcribed Image Text:econedlink www.econedlink.org Coppright Council for Economic Edu COUNCI Econc Educa oming and Going: Imports and Exports Throughout the World N pna Further background: China primarily exports electrical equipment. This would include computers and optical and medical equipment. It's also a big exporter of low-cost apparel, fabric, and textiles. A lot of China's exports are manufactured products made for U.S. companies. These companies pay to ship raw materials to China. There the low-cost factory workers process the materials into the final product. The top import categories in 2017 were: electrical machinery ($147 billion), machinery ($110 billion), furniture and bedding ($32 billion), toys and sports equipment ($26 billion), and plastics ($16 billion). Almost 75 percent of Canada's exports go to the United States. Canada has abundant supplies of oil, gas, and uranium. Its main exports include oil, vehicles and wood. The top import categories in 2017 were: mineral fuels ($73 billion), vehicles ($56 billion), machinery ($21 billion), special other (returns) ($14 billion), and plastics ($11 billion). Mexico sends even more of its exports to the United States (78 percent). Mexico's No. 1 export is manufactured products, for many of the same reasons as China. Its main exports are vehicles, machinery (including computers), oil and furniture and bedding. The top import categories in 2017 were: vehicles ($84 billion), electrical machinery ($62 billion), machinery ($54 billion), optical and medical instruments ($14 billion), and mineral fuels ($11 billion). Japan's biggest export to the United States is fuel-efficient and reliable automobiles, like Toyotas and Hondas. It also supplies machinery, medical instruments, and aircraft parts. The top import categories in 2017 were: vehicles ($51 billion), machinery ($31 billion), electrical machinery ($17 billion), optical and medical instruments ($6.7 billion), and aircraft ($4.0 billion). Germany's biggest export to the United States is high-end automobiles, like BMW, Porsche, and Mercedes-Benz. It also exports pharmaceuticals, machinery, and equipment. Germany exported more to the U.S. than any other country it trades with. In 2017 the top import categories were: 20% vehicles, 9.3% packaged medicines, and 4.9% vehicle parts. An increasing number of German cars are being assembled in the U.S. The U.S. exports a lot of soybeans, meat and poultry to the world. America is the number one producer of civilian aircraft and aircraft engines. The U.S. exports a lot of auto parts, engines and car tires to assembly plants in other countries (Canada and Mexico mostly). In addition, the U.S. exports crude oil, fuel and other petroleum products like chemicals. • The U.S. is both an importer and exporter of crude oil for two reasons. First, not all crude oil is the same and some of the crude produced in the U.S. is better suited for products in other countries. Second, not all of the U.S. produced petroleum products can get to all parts of the U.S. efficiently. The oil is refined in the middle of the country but pipelines don't always reach the coasts (especially Florida, New England and Oregon). (Source: U.S. Census) econedlink www.econedlink.org Copyright Council for Econamic Fdu COUNCI oming and Going: Imports and Exports Throughout the World Есon Educa Nee Directions: Use your understanding of specialization and comparative advantage to answer the following questions. 1. Why does China specialize in making low cost apparel and the U.S. specialize in civilian aircraft?
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