This website uses cookies to ensure you have the best experience. Learn more

The Us & Global Economic Trades

964 words - 4 pages

The US & Global Economic Trades
Change is a constant. The ability to change at a rate greater than or equal to that constant helps separate successful companies and countries (Kotter, 2012). The US and South Korea serve as examples of countries that have underwent transformational changes the last 50 years. While the US continues to become more specialty oriented, South Korea has completely reinvented itself from the depths of economic futility ("South korea’s education," 2013).
While the US GDP has slowed, it remains a highly sought after trade partner (in part due to consumption and economic well-being). South Korea serves as an example of how economic integration can transform a country. They have done so using their abundance of natural resources to spurn GDP growth. This growth has been reinvested back into their social and economic systems, specifically education. Doing this has created a highly educated and talented pool of human capital available for a fraction of the cost versus other countries (Tai-Hwon, 2014). This increase in human capital has further increased foreign direct investment (FDI) facilitating continued growth of trade with other countries. All this transformation has occurred while starring down democratization of the country and continued tensions with North Korea.
There are a number of intricacies associated with establishing trade partners and trade boundaries. Formal institutions such as governments and world councils establish rules of the game in an effort to create stability. This analysis will evaluate the U.S. economic institution in relation to the rest of the world and compare its growth with another growing country, South Korea. The analysis will highlight important trade partners over the last 3 years based on both export and import values. The evaluation will conclude by identifying countries that have the greatest trade surpluses with the United States.
Assessment
Economic integration aims to reduce cost and increase value for both producers and consumers through increased global trading of goods and services. Economist measure the health of a country’s economy using gross domestic product (GDP). GDP represents the value of goods and services produced over a period of time (Gerber, 2011). It can be calculated using a couple of different approaches. The first is the income approach which is calculated looking at the total compensation for employees and gross profits for all business in a country. The second method is through measuring a country’s total expenditures. GDP is typically expressed as a percent difference versus another time period such as a previous year or quarter. Figure 1 represents the GDP rate for the U.S. over the last 44 years (1970 – 2014).
Figure 1

The U.S. GDP has averaged slightly over 2% during this period of time. Comparing this to an emerging market such as South Korea (Figure 2) which has an average GDP annual growth over 6% during the same time period...

Find Another Essay On The US & Global Economic Trades

The Potential of Africa's Global Economic Integration

2458 words - 10 pages times between 2012 and 2013 (Kayser-Bril, 2014). These articles were not based on things where it is possible to group the countries but were repeatedly based on those which were both important and may have been highly isolated between countries such as “world news, comment is free and Global development”(Kayser-Bril, 2014). Undeniably, it must be hard to engage in economic integration with a country when people bunch all the nations of Africa as

THE CULTURE OF POVERTY AND ECONOMIC DISPARITY IN THE US

665 words - 3 pages partake in drug dealing and so on. Additionally the dysfunctional social structure of the US made the Puerto Rican feel inferior to business owners. Specific defined communities have access to specific jobs here in the US. We can elaborate social injustices as one of the main causes of racial inequality, segregation and discrimination. For example a person from a certain race , who doesn’t not have enough economic resources or social support to

The Global Economic Crisis and Recovery: Lessons to be learned

1146 words - 5 pages of countries in Eastern Europe and elsewhere have found it necessary to turn to the IMF for assistance designed to support strong programs of economic policy reform. In some cases, these countries probably would have had their own crises without the contribution of the global meltdown.To be-better-prepared for the crisis, the countries should:1.First, well prepare themselves in advance of the crisis to deal with its effects.2.Second, they should

The Global Distribution of Economic Activity Cuased by Globalization

1716 words - 7 pages .’ Another highly effective measurement for measuring inequality and distribution of economic activity is that of income per capita, this tells us how much of the global population lives in poverty (less than $1 per day). Whilst the top 10% of GDP earners receive approximately 100 times more than the bottom 10%, at that lower end of the spectrum ‘2.8bn people live on less than $2 per day, and 1.1bn

The Trend Towards Fewer and Larger Farms as Economic Growth Occurs. Covers the US

736 words - 3 pages The structure of US agriculture has been shaped towards less but the farms are larger. In the early times of this country, people could make a living on the 160 acres they had received from The Homestead Act of 1862. This act gave families clear titles to 160 acresif they had lived on it for five years. Though in today's changing world farmers have been forced to increase the sites of their operations or go out of the farming business. The

To what extent was the Civil War an important watershed in US social and economic history?

1749 words - 7 pages The period in American history prior to the Civil War was known as the "Great Expansion". Economic boom followed the expansion of the railroads westward across the continent and southward into Florida. The Civil War punctuated Florida's growth but left it relatively unscathed. Economic growth quickly followed the end of the Civil War.The Civil War split the nation. It was the most bitter conflict ever within the United States. The source of the

Cold War Politics: Shaped By The Global Economic Crises of the USA and USSR

1540 words - 6 pages fluctuating economic conditions of the age. Even though, the world economy was facing a critical stage due to the variable price of the oil and other economic effects such as unemployment and inflation not only in the USA, but also in the USSR; both empires had to make enormous efforts to demonstrate his opponent how resistant they were, and how far they could reach in this ‘dangerous race’ for the control of global power. This essay will demonstrate how

The global economic and political implications of the South African 2014 general elections

1549 words - 7 pages ). Mining also has an importance as a supplier of inputs to our economy and the economies of other countries around the globe (Zuma, 2014). The president stated explicitly that South Africa needs a mining sector that works (Zuma, 2014). This gives us a good indication of South African economic and political standing overseas. BRICS South Africa along with other countries including Brazil, Russian Federation, India and China form what is known as BRICS

The Chinese Government and the Chinese Diaspora: for State Economic Development and Global Power

2248 words - 9 pages categories of “hard power” and “soft power” (Nye* 5). Hard power is characterized as persuasion and control through, “inducements (“carrots”) or threats (“sticks”).”(Nye* 5) In other words, hard power is direct coercion through the usage of tangible rewards or by explicit (often antagonistic) force. It can be seen in a political-global sense as influence stemming from known, visible, concrete military/economic strength of nation-states that has the

Global Warming, its effects on the US Economy, the enviroment and more

5148 words - 21 pages agreements to limit emissions of greenhouse gases thought to be linked to global warming(15). Emissions limits are opposed by those who argue that the economic and social costs of such a strategy would be too high and that there is not enough evidence of global warming to merit such restrictive policies. They point to satellite data indicating that world temperatures have held steady over the past decade. (2,10)The first warnings of global warming were

“The Global Economic Situation and Prospects for 2010 and Beyond: Policy Options”

1725 words - 7 pages from US subprime mortgage crisis, which proliferated the entire global financial markets. Igniting a full-blown global financial and economic crisis. Drastic drops in the real GDP took place in the US, Europe, and other economies, which were due to the sudden stoppage and in some cases reversal of capital flows, and aggregated by drastic declines in exports.The main difference between the Asian Financial crisis of the 1997-1998 and the current

Similar Essays

The Global Economic Crisis Essay

788 words - 3 pages In the late 2000s, the World suffered from a big global economic crisis which caused “the largest and sharpest drop in global economic activity of the modern era”, in which “most major developed economies find themselves in a deep recession”, according to McKibbin and Stoeckel (1). Because its consequences have a very big impact to the whole world, many economists and scientist have tried to find the causes of the crisis; and some major causes

The Ecological Consequences Of Global Economic Growth

2079 words - 8 pages The Ecological Consequences of Global Economic Growth “There have been five ‘ mass extinctions’ in the history of the earth, when between 65% and 95% of all species were wiped out, due to natural processes of selection and evolution. Some scientists now argue that we are heading for a ‘sixth extinction’, caused by the actions of humans.” (Cock and Hopwood, 1996:17) In the following I’m going to look at the positive

Economic Policy And The Global Environment

1437 words - 6 pages Untitled Economic Policy and the Global Environment Pre-Course Assignment BCS12 Class A Student ID: 09139397 LUO SHENG Lecturer: Mr. Rodney Sim Question 1 "The price of gold has increased from less than US$700 per ounce in 2007 to more than US$1,000 per ounce in 2009." Discuss and explain with graphical illustrations, how the following events will lead to changes in the

Bitcoin The Cryptocurrency: Stimulating Global Economic Growth

995 words - 4 pages Bitcoin the Cryptocurrency: Stimulating Global Economic Growth Bitcoin is a technologically innovative solution for some common economic issues as well as fraud and identify theft. This cryptographic digital currency simultaneously provides users a method to exchange money for free or a nominal fee which is mutually beneficial for retailers and consumers. Bitcoin digital currency is similar to physical cash stored in a digital form. It is the