Thursday, February 21, 2013


I'm still worried about where the Euro is going, but dropping tariffs, via a free trade agreement, strikes me as a good idea: FTA between the United States and the European Union (EU) would present an even bigger rival to Asia, accounting for more than 40 percent of global GDP and about 50 percent of inward and outward foreign direct investment stock. Both sides are already the other’s biggest trading partner.
That last sentence is a bit of a trick, since it requires treating the EU as if it were one partner, rather than a bunch of separate countries.

Going by countries, our biggest partners are Canada, then China, then Mexico, then Japan, And only in the number 5 spot do we encounter Germany.

By the way, what is up with the phrase "global GDP", i.e., "global gross domestic product"? Couldn't we just say "global gross product"? It's not like we're selling any of our products to other planets.

We've got no exports to Mars,
we've got no imports from Venus,
and when it comes to Mercury,
there's really no trade between us.

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