Why is a nation’s level of trade dependence or independence

QUESTION

International Trade is the purchase, sale, or exchange of goods and services across national borders, which is in contrast to domestic trade that occurs between states, regions, or cities within a country. International trade is an important engine for job creation in many countries. The U.S. Department of Commerce (www.commerce.gov) calculates that for every $1 billion increase in exports, 22,800 jobs are created in the U.S. Trade provides a country’s people with a greater choice of goods and services and is an important engine for job creation in many countries. Merchandise comprise most world trade, although services account for around 20 percent. Slower world economic output slows international trade, and higher output drives greater trade.DISCUSSION QUESTION:1. Why is a nation’s level of trade dependence or independence important? (150 words or more, at least one reference)

ANSWER:

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