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How Did The Us Economy Change Over Time

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The United States’ economy changed a lot over time, and for different reasons. One of them was America’s growing dependance on other countries. Durning the 20th century, the World Trade Organization was founded. This allowed countries to trade with each other in more ways than before.

Standardized containers and free trade played a large part in the advancement of world trade. Containers that were standardized were easier to load and unload, and they did not need do be unloaded as much. Free trade basically means that you treat all countries you trade with same way. If you raise a tax for one country, you had to raise the tax for all the countries you traded with. These two inventions really got the idea of world trade off the ground.

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