Choose a country and find out who is its' biggest trading partner in terms of exports...

Choose a country and find out who is its' biggest trading partner in terms of exports and imports. Is it the same country for both imports and exports? Why do you think this country is the largest partner of the county you chose? Is the country you chose the biggest trading partner for the country you looked up (is the reverse situation true as far as largest trading partner)?

Solutions

Expert Solution

If we take the case of INDIA then the USA is the biggest trading partner in terms of exports and imports. And yes in case of India USA is the same country for both imports and exports :
1.The bilateral trade between the US and India stood at USD 88.75 billion as against USD 87.96 billion in 2018-19.

2. USA has been India's top export destination. The total Indian export has been. 52.55 Billion US $ in 2018-19.

India's and USA'S external affairs minister often quote the relationship between two countries as natural allies. Therefore the USA is the biggest trading partner to India because of following geopolitical, natural, historical, and mutual reasons :

1. India is the best to swing state for India against China for their Pivot to Asia policy.

2.In case of bilateral relationship USA has walked the extra mile to help India considering its geostrategic location.

3., As a result, India was getting tariff concession of worth 240 million US Dollars on 1900 products exported to the USA.

4. Presence of huge Indian diaspora in the US is one of the main reasons for increasing bilateral trade.

5. Because of the anti-China sentiment, several US companies are exploring news suppliers in countries like India to cut dependence on China.

6. Taking into consideration the hegemonic position of the USA in world politics India is increasing its dependence on the USA on the backdrop of its conflicting relationship with China.

When we take into consideration the case of USA, the reverse is not true for the USA as CHINA is biggest trading partner USA instead of India for very obvious reasons i.e India lacks such capacity to fulfil USA'S demand plus China as a manufacturing hub of the world is in a better position to serve the American interest.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

Japan is the country of Macroville's largest trading partner. Macroville's currency is the dollar. Japan uses...

Japan is the country of Macroville's largest trading partner. Macroville's currency is the dollar. Japan uses the Yen currency. Recently, the Japanese central bank raised interest rates. a) Using a correctly labeled graph of the foreign exchange market for Macroville, show the impact of the Japanese central bank decision. b) Given your answer in part (a), what will happen to Marcoville’s exports and imports to and from Japan? Explain. c) Identify what will happen to the Macroville dollar, as a...

A team of researchers would like to find out if Country X residents, who favor a...

A team of researchers would like to find out if Country X residents, who favor a low fat diet, have significantly lower cholesterol levels compared to that of the US population. They collected data from a large sample of Country X residents and the Z statistic is calculated to be -1.34 in a one-tailed test with an alpha level of .05. What is the researchers' conclusion of the hypothesis test? Group of answer choices The researchers fail to reject the...

Suppose that Country X subsidizes its exports and Country Y imposes a “countervailing” tariff that offsets...

Suppose that Country X subsidizes its exports and Country Y imposes a “countervailing” tariff that offsets the subsidy’s effect, so that in the end, relative prices in Country Y are unchanged. What happens to the terms of trade? What about welfare in the two countries? Suppose, on the other hand, that Country Y retaliates with an export subsidy of its own. Contrast the result.

Assume that country X subsidizes its exports and country Y imposes a countervailing tariff that offset...

Assume that country X subsidizes its exports and country Y imposes a countervailing tariff that offset the subsidy. Explain why the relative prices in country Y would be unchanged. Discuss the welfare effects in the two countries. What would be the effect if country Y retaliates with an export subsidy but without countervailing tariffs on the product?

What are Canada’s leading exports? Imports? Who are Canada’s major trading partners? Is Canada Involved in...

What are Canada’s leading exports? Imports? Who are Canada’s major trading partners? Is Canada Involved in any trade agreements and/or trade organizations? Does Canada have any tariffs, quotas, or other trade restrictions?

What are Nordstrom’s greatest risks, and who are its biggest competitors?

4. If a country increases the amount of goods it imports but its exports remain unchanged:...

4. If a country increases the amount of goods it imports but its exports remain unchanged: A. AD would not shift. B. AD shifts right. C. AD shifts left. D. AD would shift but in a random direction. 7. Rising confidence in the economy shifts the aggregate demand curve to the left. A. False B. True 8. An increase in net export spending will result in a(n): A. increase in aggregate supply. B. decrease in aggregate supply. C. increase in...

You are the chief negotiator for Country M in working out the terms of an investment...

You are the chief negotiator for Country M in working out the terms of an investment by Acme International (“Acme”), a U.S. corporation. The investment will be made through Subsid Ltd., a wholly owned subsidiary of Acme, which is incorporated in Country M. The pro forma financial statements of Subsid Ltd. Show profits of $1 million per year and dividend distributions to Acme of $700,000 per year. To the extent its cash flow is greater than $700,000 per year Acme...

Determine the individuals who carry out contact investigations, or partner notification for STD’s at the local...

Determine the individuals who carry out contact investigations, or partner notification for STD’s at the local health department (by interview or web search). How do they contact a person who is less than 18 years of age? What strategies do they use to bring the contact in for treatment? How do they maintain confidentiality? References should be included at the end of the answer and in a reference page for complete credit

Suppose we refused to sell goods to any country that reduced or halted its exports to...

Suppose we refused to sell goods to any country that reduced or halted its exports to us. Who would benefit and who would lose from such retaliation? Can you suggest alternative ways to ensure import supplies? Are there any particular imported commodities that you or your firm rely on? What has happened to the supply of these imports over the years?

Subjects