Elmat: 1. 2. I agree..
3. The US has never been very dependent on exports,. and is even less dependent than it used to be.
elmat: I strongly disagree: "In the 1990s, overall export growth has accounted for one-third of the increase in U.S. gross domestic product (GDP). Total exports over the last 5 years have accounted for about 10 to 12 percent of total GDP."
Foreign Affairs: Perspectives on Foreign Affairs Programs and Structures (Letter Report, 11/08/96, GAO/NSIAD-97-6).
Besides that the US actively promotes exports.
US Export Promotion
foreignpolicy-infocus.org
US Export promotion has dot.com company too:
buyusa.com.
Don't be fooled byt the 12% of total GDP. We have to look to what the USDA says when the US uses trade sanctions against the usual suspects (you know Cuba, Iran, Iraq, North Korea, Libya and Sudan: There is a big cry because trade sanctions hurst US exports.
The numbers also don't tell the truth if we see that the US is a third World country that dominates a big share of world trade in basic products. See, please, usaengage.org Table 2: 4 U.S. Share of World Trade is the U.S. share of world exports of the specified commodity in 1996.
The 12% is heavily loaded with basic products. The US government defends this 12% with nail and claw:
"One area where lawmakers may be using fiscal measures to spur growth is in the farming sector. The $73.5 billion farm bill that would automatically funnel more money to growers when prices fall may be debated by U.S. House of Representatives in early September. ``Will farm equipment lead the economic recovery? I can't think of an alternative sector right now,'' said David Hale, chief economist at Zurich Financial Services in Chicago. Under the legislation, grain, cotton and soybean growers would see $45 billion over 10 years in guaranteed annual payments plus an estimated $37 billion in payments triggered by ''target prices'' when receipts from market prices and subsidies fall below the goal set by Congress." (What Can Rate Cuts Do for 'New' Economy?)
4. Many economies are highly reliant, if not dependent, on exporting to the US. AS A RESULT OF 1. AND 2. BEING TRUE, THIS IS ALSO TRUE.
I will respond to the remaining ones in next posting (or postings) |
