Answer:
Explanation:
Economic interdependence is the situation where two or more parties depend upon each other for the exchange of goods and the fulfillment of their necessities.
It is a system by which many companies are economically dependent upon each other. On a macroeconomic level, this can involve many countries being economically dependent upon each other as well. This is where each nation and their economies are dependent on other nations for products and goods.
For example, the United States today depends on China to provide it with many goods.
suppose last time you went shopping, maybe you bought fruits from South America, tea from Southeast Asia, and fish from Europe. Your computer might have local components and Asian parts. Perhaps the clothes you're wearing were made in India, your car came from Japan.
We live in an interconnected world and countries' economies are linked with each other. We have access to products from many places and locally produced goods are often exported.
Effect of interdependence:
Economic interdependence creates a global market where goods, products, and jobs can flow freely across borders. This increased cross-border interaction promotes international relations and an efficient trading system among economies.
