Question

Explain whether it is more important for U.S. firms to help our domestic economy or the economies of foreign countries?​

Answer 1

Answer:

Since its economic reforms began in the late 1970s, China has had one of the fastest-growing economies in the world. Between 1979 and 2000 real gross domestic product (GDP) increased more than six-fold. Although per capita income remains low, China’s huge population means that in aggregate terms it is already among the larger economies in the world, much larger for example than Russia or India, or even the two combined. During the same period, the growth of China’s international trade has been even more impressive, such that the country’s share of world trade has more than quintupled, to about 4 percent at present. No other country has ever increased its share of world trade so rapidly. Since 1995 China has been one of the world’s top 10 trading countries..