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Manufacturing is still critical to the economy United States. Clyde Prestowitz, says it's time to start realizing the positive spillovers that manufacturing creates... Read more  

Events & Activities

Stephen Olson at Chinese Development Institute Conference

 

 Clyde Prestowitz giving presentation to CDI...

 

Steve Olson teaching trade negotiations at the Mekong Institute...

 

Stephen Olson to speak at upcoming workshop organized by the International Institute for Trade and Development on 

"Economics of GMS Agricultural trade in goods and services towards the world market"

Chiangmai, Thailand Sep 8-12.

(9/13/11) Prestowitz on Job Creation and the Trade Deficit in the Washington Times

U.S. exports are up, but jobs don't follow

Manufacturing leads boom, but companies aren't itching to hire

Patrice Hill, The Washington Times

September 13, 2011

Exports have been a rare strength and engine of growth in the U.S. economic recovery, aided by a big push from the Obama White House but despite the positive signs, the sector has not proven to be the plentiful source of new jobs that many supporters had hoped.

An unexpectedly good performance of exports, which reached a record high of $178 billion in July, last week prompted economists to increase their estimates of U.S. growth in the first half of the year by as much as half a percentage point from earlier reported anemic levels under 1 percent. Thats no small feat when other parts of the American economy, including housing and consumer spending, are stagnant or in decline.

The double-digit growth in exports during the recovery has been nurtured by White House policies of promoting American business interests overseas as well as a pronounced weakening of the dollar, which has made U.S. goods cheaper and more competitive in fast-growing overseas markets.

The White House has even made some headway pushing China to allow its currency to rise against the dollar, helping to make China the fastest growing market for U.S. goods.

Click here to read the entire article at the Washington Times.

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