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Posts Tagged ‘exports’

Trade: Boosting Exports to China

June 11th, 2013

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Twenty years ago, American businesses flocked to China with vague but ambitious plans to sell its billion consumers everything from toasters to telephones. But in a market that had no meaningful middle class, they found few takers. In the years since, China has successfully tapped into foreign investment and know-how to build a powerful, export-oriented economy—and a rapidly expanding middle class—largely by selling to America’s middle class. Its success has stoked American concerns about trade deficits and the loss of middle-class jobs to low-cost foreign competition.

But China’s ongoing transformation points to a potentially different future: one in which America expands its exports, achieves fairer trade, creates good jobs, and strengthens the middle class—by increasingly selling to China’s burgeoning middle class.

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Bera and Gerwin: Getting ‘LinkedIn’ to Asia

April 10th, 2013

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By Rep. Ami Bera and Ed Gerwin 

Need a better job? Want a more fulfilling career?

In today’s digital world, social networks such as LinkedIn are vital for professional success. A strong network of friends and colleagues can break down barriers and open doors, and it is often the surest way to find a job, land business and build a career.

In the global economy, networking is critical for countries too. By linking economies and reducing impediments to commerce, trade agreements can boost economic growth, open up business opportunities and support better jobs for workers.

When America networks on trade, we succeed. More than 45 percent of U.S. goods exports go to the 20 countries with which we have trade agreements, including Canada and Mexico, our biggest export partners. And our trade with these partners tends to be more balanced. In recent years, America has had trade surpluses in manufactured goods and services with our trade agreement partners.

But America still has considerable trade networking to do, especially in forging stronger links with the fast-growing economies in East Asia — a region that will add over a billion new middle-class consumers in the next decade and import an estimated $10 trillion in 2020 alone.

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Smith and Gerwin: The Math of Exporting to Asia-Pacific Region

October 4th, 2012

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By: Rep. Adam Smith and Ed Gerwin

This piece was originally featured on Roll Call.

At the Democratic National Convention, President Bill Clinton reminded America that sound economic policy is often a matter of straightforward arithmetic.

One area where the economic equation can add up nicely for the United States is increased export trade, especially expanded exports of “Made in America” products to the rapidly growing markets of the Asia-Pacific region.

Let’s look at some numbers. Read the rest of this entry »

Reauthorizing the Ex-Im Bank

April 5th, 2012

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This piece was originally posted in The Hill.

Good ideas–ideas that work–should transcend ideological and partisan differences.

For almost 80 years, the Export-Import Bank of the United States has been one such good idea, enjoying broad bipartisan support while effectively promoting job-creating American exports. But the Ex-Im Bank’s work will grind to a halt within weeks without a new authorization. And, without a long-term reauthorization, the Bank’s mission would be seriously undermined, creating great uncertainty for U.S. exporters and their workers.

Rep. Rick Larsen, (D-Wash.), (one of the authors) and Rep. Don Manzullo, (R-Ill.), have introduced the Export-Import Bank Reauthorization Act of 2012 which would extend the Bank’s authority through 2015 and raise the borrowing authority to $140 billion.

Why should we care? First, the Ex-Im Bank is a self-supporting entity that actually turns an $800 million annual profit for the government. Second, and more important, the Bank supports U.S. exports, and exports have played an increasingly important role in driving stronger American economic growth and much-needed jobs.

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Time for Teamwork on Trade

September 23rd, 2011

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This piece was originally posted by The Wall Street Journal.

Last December, in an NFL game between the Tennessee Titans and the Houston Texans, two Houston teammates were involved in an on-field brawl – with each other. While the Texans fought, the Titans scored and, not surprisingly, won the game 31-17.

Washington has been doing much the same with pending trade deals with South Korea, Colombia and Panama. While the many supporters of these trade deals have been battling and bickering, America’s international competitors have been running up the score – and America’s companies and workers are losing out.

The Obama Administration and leading Congressional Republicans agree that these trade agreements would create needed economic growth and good American jobs. American business, state and local leaders and many Congressional Democrats also support these deals. The Senate Finance Trade Subcommittee estimates that just the tariff reductions on goods under the Korean trade deal would create some 280,000 U.S. jobs, while opening Korea’s sheltered $580 billion services market would create additional American jobs in key service sectors. Read the rest of this entry »

Misconceptions About Trade Agreements

April 13th, 2011

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This piece was originally published in The Wall Street Journal.

The U.S. and Colombia appear near a deal on a trade agreement. With this deal and others move closer to congressional debate, Ed Gerwin, Senior Fellow for Trade and Global Economic Policy at Third Way, and Jon Cowan, president of Third Way, point to five misconceptions about trade agreements.

Later this year, the Obama administration and Congress will seek bipartisan votes to pass free trade agreements with South Korea, Colombia and Panama. With 87% of global economic growth over the next 5 years taking place outside of the United States, trade supporters believe these agreements will create jobs and prosperity by helping American companies tap into fast-growing export markets.

Opponents disagree. They argue that “NAFTA-style” trade agreements hurt rather than help the U.S. economy — and polls show that much of the public agrees.

But is this conventional wisdom correct? Or do trade deals work? As Washington gears up for hard-edged debates about trade, it’s worth exploring some common misconceptions about free trade agreements.

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