Discuss the demographics of world trade since the 1960s. How has the role of the United States changed? How is world trade expected to change in the future?

What will be an ideal response?

Answer: In the early 1960s, the United States was the world's most dominant industrial power. In 1960, the United States accounted for over 38 percent of the world's GDP. By 2018, that number had shrunk to 24 percent; however, this decline was relative, not absolute. China and several other nations increased their GDP, which caused the decline in the United States' GDP. This trend is expected to continue as emerging economies such as Brazil. Russia, and India continue to grow. This reflects the growing economic development and industrialization of the world economy.