A lot of it really depends on what they are trading doesn't it? For example, some of the stuff are things we can live without, and then there are others where it isn't the case. I don't honestly know what the facts are, but as a hypothetical, let's say the single biggest export from a country is food. Then from another country lets say it's a luxury good. The second country could cut ties, but then they are going to have a food shortage until they can get their own infrastructure up and running. It could be quite detrimental to the second country until that point, but only be a minor inconvenience to the other country. Then again, that's a pretty simple scenario for a very complex problem.
This is true, but in the case of the US, I don't think there is anything that the US exclusively has, that the rest of the world can't pick up the slack on. But I don' think that is the case for the US, as a lot is imported, which is why every other country wants to break into the US market.
I never said anything about the US :)
Yeah I know, but I did. :D So I was just pointing it out. In many cases you are right, if there are only two countries or a handful involved only. But, there really is the rest of the world that can trade in pretty much anything.
I think it's going to be rough no matter what, but many countries would probably be able to figure it out for the most part. At least the food side of it. Everything else... Who knows.
You can’t grow food without Potash. This is why the USA needs Russia.