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What was the relationship between economic growth and trade in western Europe and Japan?

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slytherin | Student, Grade 10 | eNoter

Posted June 7, 2010 at 12:45 PM via web

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What was the relationship between economic growth and trade in western Europe and Japan?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted June 7, 2010 at 12:51 PM (Answer #1)

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For the most part, both Western Europe (especially West Germany) and Japan relied heavily on trade to create economic growth.  During the early years of the post-war period, the United States was the only truly prosperous country.  Other countries' growth tended to depend on exports to the US because that is where the consumers were.

The classic example of export-driven development was Japan.  They started off selling cheap toys and appliances to US customers.  They eventually graduated to supplying us with cars and consumer electronics.  By exporting to the US, they built themselves into an economic powerhouse.

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