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)

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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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?

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)
Transcribed Image Text: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)
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