The sum total of all transactions back and forth
across any bordered region of the global marketplace
Cross put
The degree of open ness is not well measured by ratio to GDP
if we have lots of intermediate imports as inputs to exported outputs and visa versa
An estimate of total domestic product transactions makes a better denominator
Sounds like I'm still shaken here
But the present formula import vale plus export value over GDP is too sensitive to
The amount of intermediate ins and outs
Once trade was in mostly final products not products that once productively consumed
Are headed back out into inter border commerce
