economic interdependence
A situation in which two or more countries or economies rely on each other because of trade, investment, and financial flows.
writing-task-2readingspeakingformal-phrasesGlobalizationWork and economy
Utilisation IELTS
Useful for explaining the economic links between countries in globalization essays, for interpreting reading passages on trade, and for discussing global economics in Speaking Part 3.
Exemples
- The steady rise in economic interdependence has made national economies more sensitive to crises in other parts of the world.
- Many economists argue that economic interdependence reduces the likelihood of armed conflict between trading partners.
- The graph illustrates the growth of economic interdependence between developing and developed nations over the past fifty years.
- In my view, globalization has deepened economic interdependence, but it has also exposed weaker countries to external shocks.
Collocations
- growing economic interdependence
- The report highlights the growing economic interdependence between Asian and European markets.
- increasing economic interdependence
- Increasing economic interdependence has led to a more integrated global supply chain.
- mutual economic interdependence
- Mutual economic interdependence is often used to explain why countries hesitate to impose trade barriers.
- level of economic interdependence
- The level of economic interdependence among EU member states is exceptionally high.
- promote economic interdependence
- Trade agreements are designed to promote economic interdependence and shared prosperity.
Famille de mots
- Nom
- interdependence
- Verbe
- interdepend
- Adjectif
- interdependent
- Adverbe
- interdependently
Paraphrases
- mutual economic reliance: A simpler way to express the idea that countries depend on each other economically.
- interconnected economies: Focuses on the links between national economies, often used in Task 1 descriptions of trade data.
- economic integration: A broader term that covers the process of removing trade barriers and coordinating policies.
- cross-border economic ties: Emphasizes the transnational nature of the relationship.
Erreurs courantes
- economic interdependent to economic interdependence. Use the noun form 'interdependence' after the adjective 'economic'.
- countries are economic interdependence to countries are economically interdependent. Use the adverb 'economically' and the adjective 'interdependent' when describing a state.
- interdependence of economies to economic interdependence. Although not incorrect, the standard phrase in IELTS contexts is 'economic interdependence'.
- the interdependence between economy to the interdependence between economies. Use the plural 'economies' when referring to multiple countries.