Discussion

Our textbook's discussion of international trade leaves open questions about the overall benefit of globalization and trade itself.

https://assets.openstax.org/oscms-prodcms/media/documents/Macroeconomics2e-OP_WRQqkIv.pdf

• Do you agree with the notion that international trade should be expanded as much as possible? Why or why not?
• Do you believe the United States benefits from international trade more than other countries? Briefly describe why you feel that way.
• In 2022, the total dollar value of U.S. exports was around $2.1 trillion and the total dollar value of U.S. imports was around 3.3 trillion. There is more information on the breakdown of exports and imports by major categories in the Annual 2022 Press Highlights from the U.S. Census Bureau, available here:https://www.census.gov/foreign-trade/statistics/highlights/AnnualPressHighlights.pdfLinks to an external site.. Pick a statistic published in the Annual 2022 Press Highlights (for example, petroleum exports were the highest on record at $305.6 billion, or the 2022 deficit with Canada $81.6 billion was the highest on record) and describe whether you think it is a "good" or "bad" thing for the U.S. economy, and why.