Global Interdependence
Global interdependence means that people and nations depend on each other for goods and services. Developed countries usually export technology and medicines for developing countries and developing countries export raw materials and local products to developing countries.
Global Trade:
The global trade between countries occur because nations have different needs, comparative advantages, and resources. The U.S. is a very important factor in global trade.Some exports are: wheat, corn, computer software, aircraft, medical equipment, and machinery that is sent to nations who cannot produce these goods on their own. The U.S. still needs some imports, such as oil, which usually comes from Canada, Saudi Arabia, Venezuela, and Mexico and is used in the daily lives of most Americans. Some times the U.S. needs certain goods, such as diamonds, which are imported from South Africa, Democratic Republic of the Congo, and Botswana.
Global Economic Cooperation:
The North American Trade Free Trade Agreement (NAFTA) was made to end trade barriers between Canada, Mexico, and the U.S. Although it does not solve all disagreements between nations, they do support global interdependence.
Global Issues
Since global interdependence has made people aware of issues that have affected the world as a whole, nations cooperate and work together to find solutions to the problems of the world. However, varieties of political and cultural forces are also at work around the globe. These forces can encourage nations not to work together.
Costs of Competition and Trade
The global interdependence has increased trade and has led to the wealth in many parts of the world. Although, trade may cause problems. Companies may move their factories to other countries with lower labor costs and greater populations. People may lose their jobs in the process.
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