Gracia Gilreath, Chapter 9, Question 7

In reading chapter 9, I learned that a single country's recession effects other economies internationally. Before reading this, I used to believe that other economies' recessions were good for the US because that means that we could get a step up on our competition, but I learned that "if other powerful economies fall into recession, they stop buying our goods and services--and vice versa." America receives a big part of its products from trade with other countries, so we greatly rely on oversea trade for consumption. When recessions happen in one country, there is less trade, resulting in less consumption in other countries and ultimately this effects all the other economies of the world. So in the economic case, one man's misfortune, is NOT another man's gain.