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Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital ...
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 ...
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) and associated policies that were aimed at opening national economies internally and externally to global competition. [4] [5] [6]
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.
Politically sensitive exports to the U.S. fell 17.4% from a year earlier to $45 billion, the customs data showed, while imports of U.S. goods slid 4.9% to nearly $12 billion. China’s imports ...
An “escalation scenario” included in the study projected that the U.S. economy would shrink by $1.6 trillion over five years if tariffs were to continue increasing. ... How Trump’s Proposed ...
Switzerland is the 17th largest import economy in the world, with imports at a total of $273 billion in 2017. The top countries that Switzerland import from are Germany, the United States, Italy, the United Kingdom, and France. Imports in the past five years have decreased by 2% each year.
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.