Can a country survive and prosper without international trade or investment from overseas?

Question

To what extent can a country be 100% independent from the rest of the world? Is there any country like that in the world? Maybe North Korea, but North Korea receives supports from China.

Answer 1

This is Theoretically possible but highly unlikely. If you are Very Resource rich, Have a very well developed infrastructure, A well educated labor supply and plenty of physical capital, it may be possible. However, Trade results when all of these inputs into production are distributed across different countries in different t ratios. This makes production of some goods easier to produce. Everybody will have a comparative advantage in something and trade will increase the purchasing power of all parties involved. Trade is the engine of growth!!!