Empirical Analysis and Modeling of the Global Economic System

In the global economic system, each economy stimulates the growth of its gross domestic products (GDP) by increasing its international trade. Using a fluctuation analysis of the flux data of GDP and foreign trade, we find that both GDP and foreign trade are dominated by external force and driven by each other. By excluding the impact of the associated trade dependency degree, GDP and the total volume of foreign trade collapse well into a power-law function. The economy's total trade volume scales with the number of trade partners, and it is distributed among its trade partners in an exponential form. The model which incorporated these empirical results can integrate the growth dynamics of GDP and the interplay dynamics between GDP and weighted international trade networks simultaneously.