The Dow downturn shows that we, as a nation, are far to dependent on foreign economies. If we had more industry within the country itself rather than relying on nations such as China to supply and manufacture products that we could manufacture ourselves, we would not be so affected by foreign markets.
Any time a significant economic or financial downturn occurs, there are some commentators who try and pin the events on the relationship between the US economy and economies abroad. The fact is, though, that in the wake of enormous efforts across the globe to enact trade agreements over the last few decades, the connections between national economies have grown so complex and intertwined that no nation can hope to extricate itself from these relationships. At the end of the day, there are goods that we cannot produce ourselves and that we must acquire from a foreign source, and foreign trade helps us do this.
No. We are not too dependent on foreign economies because increasingly we operate in a global market. In turn, because commerce, trade, and general business dealings are increasingly interwoven across regional, national, and international boundaries dependence on foreign economies is inevitable and also unavoidable. Moreover, despite its recent challenges, our economy generally flourishes because it is capable of independent growth and sustainability. In turn, this means that while some dependence across economies is a natural occurrence in a global economy, we are not too dependent ourselves.
No the United States in not too dependent on foreign economies, but the reality of today's world is that all countries economies are interconnected and downturns in one country will have a ripple effect world wide. As a major importer of oil the US economy is driven to a degree by international oil prices.