Week 1 Discussion - the largest traders and the account for...

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Week 1 Discussion Introduction to International Economics: Chapter 1 includes nine different tables that describe different situations involving international trade. Table 1 illustrates “how countries are becoming more interdependent” (Appleyard, Field, & Cobb, 2010). What can be learned from this table is exactly how much production and exports are being traded internationally. Whereas table 2 will illustrates the details of trade on the regional basis. “The relative importance of Europe, North America, and Asia is evident, as they account for more than 85 percent of trade” (Appleyard, Field, & Cobb, 2010). Table 3 involves details that will give an idea of the geographically structure of trade. This table “provides information on the destination of merchandise exports from several regions for 2007” (Appleyard, Field, & Cobb, 2010). This table shows that countries trade the most within their own continents. North America trades 51.3 percent with other North American Countries. Table 4 describes international trade at an individual country level. We learn from this table that 6 countries are
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Unformatted text preview: the largest traders and the account for more than 40 percent of world trade. “World trade thus tends to be concentrated among relatively few major traders, with the remaining 200 countries accounting for slightly more than 45 percent” (Appleyard, Field, & Cobb, 2010). International trade is becoming more and more relative to our economic state. “International trade has played a critical role in the ability of countries to grow, develop, and be economically powerful throughout history” (Appleyard, Field, & Cobb, 2010). Theses tables teaches us which countries are producing the most exports, imports, and doing the most trading. It also shows that countries tend to trade with other countries that are closer geographically. The tables in addition teach us that industrialized countries tend to dominate in world trading. References Appleyard, Field, & Cobb. (2010). International Economics (Seventh Edition ed.). New York, New York: McGraw - Hill Companies, INC....
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