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Ultimately, cotton diplomacy did not work in favor of the Confederacy, as European nations largely sought alternative markets to obtain cotton. In fact, the cotton embargo transformed into a self-embargo which restricted the Confederate economy. Ultimately, the growth in the demand for cotton that fueled the antebellum economy did not continue. [1]
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.
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 ...
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 ...
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 ...
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]
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.