What are the effects of import?

Answer 1

There are several effects of imports. Some of them include:

1: A dependence on the the nation that gives imports to us.

For example, most of the world (especially U.S.A.) relies on Chinese imports of cellphone materials as well as labor. Another example is Russia providing most of the oil to Europe.

In terms of politics, this some-what puts nations at the mercy of the nation giving these imports; a historic example is when Middle Eastern nations in 1970s stopped giving oil to U.S. for supporting Israel over them. As you all know, no modernied nation can survive without oil, which is why the U.S. became more lenient on involving itself with Oriental issues (a.k.a. Middle East)

2: An increased interest and a sense of perception towards the nation giving the imports.

For example, Far Eastern nations such as China & India are receiving increased Western interest; many Europeans and Americans are visiting such places because it plays a daily role in their lives (ex: China makes 70% of all U.S. goods)

3: An increased debt towards foreign nations & an unstable domestic economy.

Nations such as the U.S. especially are in debt towards rising economic powers such as China, Germany, Japan, South Korea, and India. In fact, these 5 nations listed provide much of the United States' goods in everyday llife. Because of this, the U.S. domestic economy such as the automobile industry have plummeted heavily.

The effects of Imports will often have a negative impact on foreign nations; many countries trying to reach higher levels of self suffiency in order to prevent further debts from imports.