How does the American and world economy work and need each other?
In: Economics
The US, and any country, have demands in order to exists. They have requirements in order to keep existing. This includes providing basic needs like food and shelter, as well more complex needs like entertainment and transportation. Countries produce things for their own people, but if the demand for something in your country is low it might be very expensive to make. Instead we can make a lot of it, build huge factories that speed up production, and then sell it to other nations. In exchange, those other nations let us buy stuff we struggle to make, or to make cheaply. This betters all countries involved. The US Is the richest country so it has a lot of sway in how much they buy and sell things for but they are not unique in how they interact with the world economy.
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