The Peterson Institute for International Economics (PIIE) is an independent nonprofit, nonpartisan research organization dedicated to strengthening prosperity and human welfare in the global economy through expert analysis and practical policy solutions.
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View allGary Clyde Hufbauer (PIIE), Zhiyao (Lucy) Lu (PIIE) and Junie Joseph (PIIE)
International trade encourages each country to specialize in what it produces best using the least amount of resources, known in economics as "comparative advantage." This video illustrates this concept by imagining the countries as chefs producing different kinds of food. See how trade helps both sides be more productive. Learn more at piie.com/globalization.
Additional credits: Melina Kolb, Digital Communications Manager, and Daniel Housch, Designer and Animator