Detroit's Big Three and the U.S public policy effect

      Established gradually between 1910 and 1930, the "Big Three" (Ford, Chrysler, GM) hold nearly 70% of the U.S. market in the late 1920s. From the early 1930s to the late 1970s, they hold nearly 85% of the domestic market. The globalisation of the economy and the opening of the U.S. market to competition from the late 1950s, progressively brought down that hegemony of the three groups. In 2007, the share of the "Big Three" in the domestic market fell to 54%. The Japanese car manufacturer Toyota was in the second place in the American market, and then it became the first in the first months of 2008. How was the comparative advantage of Detroit’s big three affected?

Why is it important for a country to be open to trade?

Consumers are able to enjoy goods in their countries, while the production occurred in a different part of the world. Thanks to trade openness, countries became able to exchange goods and products based on their needs. It is surely important for a country to be open to trade for several reasons.

Welcome

Welcome to my first blog ever "Global Economics & Afifa". As its name says, my blog is related to the world of economy globally. For this reason, every week I would happily share with you a post related to this field. I hope you would enjoy it. Stay tuned.