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Others argue that it entails the degree of sensitivity of a country's economic behavior to policies and development of countries outside its border. [3] Global economic interdependence has grown in the post-World War II period as a result of technological progress (e.g. computerization, containerization, low-cost travel, low-cost communications ...
Since the trade balance (exports minus imports) is generally the biggest determinant of the current account surplus or deficit, the current account balance often displays a cyclical trend. During a strong economic expansion, import volumes typically surge; if exports are unable to grow at the same rate, the current account deficit will widen.
OECD (Organisation for Economic Cooperation and Development) 29.11%: 29.36%: 58.47%: 0.99: 2023: Notes: Imports of goods and services represent the value of all goods and other market services received from the rest of the world. Exports of goods and services represent the value of all goods and other market services provided to the rest of the ...
The China shock (or China trade shock) is the impact of rising Chinese exports on manufacturing employment in the United States and Europe after China's accession to the World Trade Organization in 2001.
China's trade has been gradually declining for the past two years, though August's drops in export and imports were less severe than in July, when exports fell 14.5% from a year earlier while ...
The stagflation of the 1970s saw a U.S. economy characterized by slower GDP growth. In 1988, the United States ranked first in the world in the Economist Intelligence Unit "quality of life index" and third in the Economic Freedom of the World Index. [13] Over the long run, nations with trade surpluses tend also to have a savings surplus.
Imports and exports totaling the equivalent of nearly US$1.309.2 Trillion in 2017, which meant that Japan was the world's fourth largest trading nation after China, the United States and Germany. Trade was once the primary form of Japan's international economic relationships, but in the 1980s its rapidly rising foreign investments added a new ...
Neither the United States nor China would win a trade war, the Chinese Embassy in Washington said on Monday, after U.S. President-elect Donald Trump threatened to slap an additional 10% tariff on ...