Respond to the following topic "Trade in Michigan and the Coronavirus Pandemic" 1) Who are Michigan's...

Respond to the following topic "Trade in Michigan and the Coronavirus Pandemic"

1) Who are Michigan's major trading partners (countries) and how much trade occurs with Michigan and other countries?

2) Please tell me how trade is being affected by the Coronavirus Pandemic around the globe and in Michigan. Be specific and give examples.

3) How and why have interest rates (Federal Reserve) changed recently and according to basic economic principles should the dollar appreciate or depreciate as a result? What is actually happening to the dollar in terms of getting stronger or weaker (related to psychologically please find recent articles)?

4) Given that global supply chains have been disrupted significantly due to factory closures and sales disruptions--and with so much volatility and uncertainty around the world--what do you think the effect will be on international business going forward?

Expert Solution

Michigan country mainly have export to importent trade to other countries. Mainly Michigan and more than 25 companies have the trade relationship . In 2017 56632 million dollars and 2018 it was 54413 million and 2019 51959 million dollar trade value with these countries.

2) The conronavirus pandemic is very negative affect the trade between the other countries and also which is seen a lower growth in the trade value in last year 2019 compared with the previous years. Major example like the trade value with China is 2017 $3673 million and 2018 $ 3566 but in 2019 it was very decrease to the level of $3242.There is is a negative percentage change 8.8 between 2018 -19.

3) The federal reserve cut their rate mainly in interest rate by 0 .25% due to the coronovirus pandemic. This helps to depreciate the dollar value from an appreciable value. actually there was a decrease in the interest rate lead to dollar oriented sectrities sale ...that lead to depreciate it value.and the happening reverse manner when the interest rate increase.

4) The internal business and trade is going as panthentic situation in this quarter because of the factory closure and sales distruption.The volatality and uncertainty all economic and all areas in this time around the world.so any thing can happend without possible prediction and anyway this quarter will made more cost than income in all internal business.

Rahul Sunny answered 6 months ago

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