Increased international trade
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The world is becoming increasingly interdependent, and the bank's customers have increasing choices in where and how they do their banking. My manager wants to know whether the benefits of globalization outweigh the costs for the bank. Describe one way increased international trade has benefited U.S. consumers. Then, describe a drawback for U.S. consumers. How might your overall research impact the bank's strategy for attracting new customers?
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Increased international trade is featured.
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Increased international trade has meant that US consumers have access to a greater variety of goods and cheaper goods. A country that has different amounts of human, capital and natural resources will be able to produce some products relatively (comparatively) more efficiently than in the US. US consumers can also benefit from innovation across the world in products.
On the other hand, US consumers are ...
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