Why is Trading with different countries so important and why did the US force japan to trade internationally even if they didn’t want to ?
In: Economics
Different countries are better at making different things.
For example if your country has a lot of oil and the country next to you has a lot of iron. Then you can trade your oil for their iron. In this way you are both better off. You can’t use all of your oil so the excess oil has little value to you and they have to much iron so the extra iron has little value to them.
When trade works correctly both sides of the trade are better off and this is why international trade is good.
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