1. what conclusion can you draw about US trade and trade balance?
2. , what do you conclude is the overall trend in regards to global trade over the last 15 years? Explain your answer.
3. which two countries export the most in the world? Explain
The US has seen largwr deficit over the years causing trade deficit in past 3 years. Trade balance has remained negative duebtonlarger imports and declining competitive advantage in majority of goods.
Globalntrade has grown unprecedentedly over last 15 years with CAGR of 8 percent and has seen globalisation as major cause. Overall trend has seen emergence of developing economies like Brazil, Bangladesh, Indonesia with higher growth in exports while China continues to dominate world trade and plurilateral agreements.
Rhe European Union and China are largest exporters due to competitive advantage, free trade agreements, devaluation of their currency, cheap labour and economies of scale.
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