Posts Tagged ‘global trade’
“A day will come when there will be no battlefields, but markets opening to commerce and minds opening to ideas”*…
… well, markets opening anyway.
There’s a rule of thumb that to have a healthy diet, you should eat the rainbow—meaning fruits and veggies of all colors. A similar notion could be applied to a country’s economic health. The more diverse the exports, the less susceptible a nation will presumably be to fluctuations in a single market. Too reliant on oil? A drop in prices might spell the loss of billions of dollars. And for a country where heavy machinery comprises most of the exports, that drop in prices might mean lower operating costs and an uptick in sales. And thanks to globalization, the web of trade is very complex and tough to comprehend.
Looking for better ways to unpack this data, Harvard researchers mapped out international exports in an infographic called the Globe of Economic Complexity, an interactive website that visualizes the exports of every country around the world.
Industries like agriculture, medical products, precious metals, cars, and even baked goods are all assigned a specific color. To get more detailed breakdowns, the infographic leads you to an atlas of exports with more detailed breakdowns. The data was collected in 2012 and for that year, the graphic shows the United States as predominantly turquoise (machinery and parts), blue (automotive), and fuchsia (chemicals). Spin the globe and head over to China and nearly half of the exports are machinery related. Saudi Arabia is a beacon of pink for petroleum, accounting for 76% of exports. Clicking on the country names shows who the nation exports to the most.
Changing to different views, like the product space graph, reveals which countries are most heavily involved in the trade of a specific product. Who knew that the United Kingdom accounted for 26% of the antiques trade or that Europe exports the most cigarette papers?
* Victor Hugo
As we note sadly that two countries with McDonald’s franchises have in fact gone to war, we might send charged birthday greetings to Ernest Rutherford, 1st Baron Rutherford of Nelson; he was born on this date in 1871. An experimental physicist whose work earned him the honorifics “father of nuclear physics” and “father of electronics” (along with a Nobel Prize), he is considered the greatest experimentalist since Michael Faraday, and and was instrumental in laying the foundation for the advances in technology and energy that have enabled the globalization visualized above.
George Packer described in the New York Times what happens to the clothes that one drops with charity…
If you’ve ever left a bag of clothes outside the Salvation Army or given to a local church drive, chances are that you’ve dressed an African. All over Africa, people are wearing what Americans once wore and no longer want. Visit the continent and you’ll find faded remnants of secondhand clothing in the strangest of places. The ”Let’s Help Make Philadelphia the Fashion Capital of the World” T-shirt on a Malawian laborer. The white bathrobe on a Liberian rebel boy with his wig and automatic rifle. And the muddy orange sweatshirt on the skeleton of a small child, lying on its side in a Rwandan classroom that has become a genocide memorial. A long chain of charity and commerce binds the world’s richest and poorest people in accidental intimacy. It’s a curious feature of the global age that hardly anyone on either end knows it.
The circumstantially-ironic commentary of the photos is just a bonus…
More wonderful pix– all shot in November, 2010 in Liberia, West Africa, “where former warlords tend rice paddies and American t-shirts are sold in heaps under the hot African sun”– at Mother Jones‘ “Where Do Goodwill Clothes Go?”
As we appreciate the long reach of the global market, we might recall that it was on this date in 1954 that Walt Disney announced plans for Disneyland in Anaheim, California. Construction was begun on July 21st of that year, and the park opened a year-and-a-day later.