Import refers to goods that a country buys from another country, whereas exports are goods that a country sells to another. Import is to bring something from another country to a place or country from another country. Exports are goods and services that are produced in one country and sold to buyers in another. Exports, along with imports, make up international trade. Everything needed to be balanced. Import and Export needed to be balanced. If there were many imported things, then the price of the import would be lower. Contrary, if there were less imported things, the price of the import would be higher.
In 1860, the South was still predominantly agricultural, highly dependent upon the sale of staples to a world market. By 1815, cotton was the most valuable export in the United States; by 1840, it was worth more than all other exports combined. By issuing the Declaration of Independence, adopted by the Continental Congress on July 4, 1776, the 13 American colonies severed their political connections to Great Britain. Now the Import is bigger than exports of the U.S. They spend more money on importing things, they have less money for exporting to other countries.
The United States is the world's largest importer of goods. Overseas products or imports provide more choices to consumers. They help them manage their strained household budgets because they're usually manufactured more cheaply than any domestically produced equivalent so they cost less. The U.S. needed to get more things that they needed, so they had to buy a lot of things from other countries. The U.S. didn’t make something by themselves. They thought that the labor cost and the material cost were too expensive, so they stopped some of the factories.
China has been the largest exporter of goods in the world. Special economic zones in China played a major role in the country's economic boom and the growth of exports. China offered tax incentives to foreign investors. These incentives included the ability to import equipment and technology tax-free. China has a lot of people that can do the work. And the labor cost and the material cost will be lower. Because there people wanted to work, wanted to have a work.
I think America is the biggest economic unity in the world now. It has a lot of people who are the best in the world. The people in America know how to make the world on its side. The price of import and export is using the U.S.D. Economic development is affected by the U.S. There is a very good example that tells us that the U.S. can affect the economy. At the moment, even the night the U.S. is printing money. The U.S. prints too much money, which leads to inflation. So because of this thing. We can know that the U.S. is holding the destiny of economic development in hands. The U.S. has a lot of talents. When the economy changes, they could quickly adapt and can quickly come up with ways to make it work for them. Although China is the biggest exporter, but I still think America is the biggest economic unity in the world now.
Comments