Economic interdependence between European countries
As with exchanging goods and service, the reason people traded is something they had wanted. The first consequences of trade occurred when global crises of 2008 illustrated the importance of interdependency between countries when it caused the volume of international trade to fall by almost a quarter which then adversely affected even the countries with a sound financial system. This was the first time ever efficiently use of scarce resources and trade culture increased between European countries. Further, this helps the micro or mini business to obtain a competitive advantage and access to the international market in order to boost the economy. Most of the European countries have high GDP per capita distinguish exceptionally to developed economies for instances Germany, Netherlands, France, etc. In Fact, a report published 2018 by International Monetary fund placed uttermost countries of Europe in the advanced economies’ category whether it is in final domestic demand, s...