1. Notice how U.S. imports rose at roughly the same rate asthose of other countries until the 1970s. What accounts forthe acceleration of U.S. imports thereafter?2. China’s exports rose spectacularly after the 1990s. Germanyincreased its exports in this period dramatically as well. Whatevidence do you see here for increasing competition for theUnited States in a globalizing economy? Global Trade,One of the major consequences of economic globalization is an increase in tradeamong nations. The figures below show imports and exports for four of theworld's largest economies.1960–20092.51.61.42.01.21.01.50.81.00.60.40.50.2星U.S.GermanyU.S.GermanyChinaJapanChinaJapanFIGURE 31.3FIGURE 31.4Imports, 1960-2009Exports, 1960-2009so0z0007066119850861Exports (trillions in U.S. dollars)2010-200500071970$9610961Imports (trillions in U.S. dollars)

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Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter34: Globalization And Protectionism

Section: Chapter Questions

Problem 34RQ: If opening up to free trade would benefit a nation, then why do nations not just eliminate their...

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Question

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)

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