You got it in reverse again. Part of US gdp should be counted as part of China and India's gdp. Without China and India these US companies cannot even function properly.
From what you said about the importance of Canada and Mexico, part of US gdp should be counted as part of Canada and Mexico's gdp. Without Canada and Mexico the US economy cannot even function properly.
Comrade, we got to stop with this.
It was the textbook, ECO-101. I still assume it is the same.
Y = C + I_i + G + ( X - I )
Have you ever seen this general equation before?
Okay, if you have not, then it is rather simple.
Y is national income, which is equal to Consumer spending plus Investment spending capital expenditures which is an inverse function of interest rates plus Government spending then minus the exports import into and out of the country.
Now, here is the trick, that Consumer spending and Government tends to be constant, and export imports tend to be the same usually, either balanced or surplus or deficit, it tends to stay that way.
What always changes the most is Investment, because that is a inverse function of interest rates. All this means is that when interest rates go down investment goes up, thereby adding to GNP. Then the opposite is true where interests rates go up then investment goes down taking away from GNP.
Why do we think, we are always looking at some number, because everyone is trying to figure the interest rate cycle whether the Fed will be lowering or increasing interest rates.
That is what we should know. The textbook, that simple equation, mirrors the real world.
Okay, now what you guys are saying is this.
Y = C + I_i + G + ( X - I ) + Mexicans and + Indians
That is just plain wrong.
You're not going to pass, you're not going to graduate.