What I'm saying is that if total exports to the US is a function of the difference between the US and Belgium population size, then why wouldn't imports be a function as well? Belgium has less people buy things to import, but also less people to sell things to export. It's not clear to me what the mechanism is that these two functions should be so different.
What I'm saying is that if total exports to the US is a function of the difference between the US and Belgium population size, then why wouldn't imports be a function as well? Belgium has less people buy things to import, but also less people to sell things to export. It's not clear to me what the mechanism is that these two functions should be so different.
Canada has only 41 million people, 1/8.5th of the US population, but it's a big country so it has lots of resources to export.