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The Engine That Pulled Us Out of Recession
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U.S. exports reached $2.34 trillion in 2014, increasing by $760 billion over the figure in 2009, according to the Commerce Department. Exports accounted for one third of the U.S. economic growth since 2009, say Pritzker and McNerney. Goods and services for exports supported 11.7 million U.S. jobs in 2014, and a Commerce Department 2010 paper shows these jobs pay 18% higher than jobs unrelated to exports. Commerce Department Secretary Pritzker, and McNerney, chairman of the President's Export Council, say free trade agreements and investment by private business is critical to supporting export promotion, but make no mention of the effect of the stronger dollar on future exports. In a period of a few months in 2015 the euro is approaching parity with the dollar and the yen is now 120 to the dollar, giving European and Japanese business a significant advantage, and raising questions about the strength of the U.S. recovery going forward.
A strong dollar in 2014-2017 and U.S. exports
11/05/2014
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The Engine That Pulled Us Out of Recession
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Experts who agree that its beneficial for the U.S. to lift exports through devaluation of the currency.
10/15/2009
This includes Krugman, recent Nobel Prize winner, Morici, University of Maryland, Hatzius of Goldman and Kasman of JP Morgan. Other experts also welcome the depreciation ogf the dollar as long as it is not a sudden drop. With consumers strapped, quantitiative easing reaching its limits, the stimulus in place, rising unemployment in 2010 and very poor capacity utilization, exports are a sure way to lift the economy. Morici and Krugman see a Chinese disconnect with it siphonig growth away from other countries through keeping its currency low. Morici cites the example of solar panels where China requires 75% domestic content for imports.
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Cities Adapt With Mixed Results
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The Engine That Pulled Us Out of Recession
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Cheaper Chinese Currency Has Global Impact
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U.S. Strains Mount After China Devalues Yuan
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Peter Morici: Behind the Dollar's Dog Days
BusinessWeek 10/15/2009
U.S. Exports in 2010-2016
01/21/2008
Grouped Articles
Economist 03/31/2010
U.S. Trade Gap Widens on Drop in Exports
Wall Street Journal 11/05/2014
Dollar Surges to 11-Year High Against Biggest Rivals
Wall Street Journal 01/04/2015
The Engine That Pulled Us Out of Recession
Wall Street Journal 03/19/2015
Exporting Our Way to Stability
New York Times 11/05/2010
How can Boeing, our biggest exporter, get foreign airlines to buy more planes?
Washington Post 11/06/2010
Britain's exports to the U.S.
03/10/2010
Grouped Articles
Wall Street Journal 03/10/2010
The economy: On a wing and a credit card
Economist 07/08/2013
Dollar Surges to 11-Year High Against Biggest Rivals
Wall Street Journal 01/04/2015
New York Times 03/13/2015
The Engine That Pulled Us Out of Recession
Wall Street Journal 03/19/2015
U.S. Trade Gap Widens on Surging Imports
Wall Street Journal 05/06/2015
Robert Lighthizer and other experts call for trade and globalization practices that work for the U.S.
01/06/2010
The failure of the establishment of both parties in the USA to take action in the face of the loss of 5.6 million jobs in the last decade, with $4.3 trillion in trade imbalances. An issue which resonates with voters in the US and could lead to a fundamental realignent of American attitudes to globalization and free trade. The feeling that the free-trade deck is stacked against the USA by Asian countries. China's efforts to keep the yuan dollar exchange rate at levels that favor exports. China's accumulation of over $3 trillion in dollar reserves that are parked mostly in Treasury's that keep U.S. interests low. Distortons in the global economy from the failure to rebalance the world economy hurts China and the U.S.
Grouped Articles
Wall Street Journal 10/04/2011
US-China trade relations: Speak less softly, carry a stick
Economist 09/25/2010
New York Times 09/30/2010
Wall Street Journal 10/02/2010
The Engine That Pulled Us Out of Recession
Wall Street Journal 03/19/2015
What’s Our Duty to the People Globalization Leaves Behind?
New York Times 01/26/2016
The role of exports in the U.S. economic recovery by 2015-2017 and the threat posed by a stronger dollar
03/19/2015
The views of the U.S. Commerce Secretary Pritzker, and McNerney, head of the U.S. Export Council. About one third of the U.S. growth rate comes from exports in this economic recovery, say Pritzker and McNerney.
Grouped Articles
The Engine That Pulled Us Out of Recession
Wall Street Journal 03/19/2015
U.S. Economic Growth Nearly Stalls Out
Wall Street Journal 04/29/2015
U.S. Trade Gap Widens on Surging Imports
Wall Street Journal 05/06/2015
Dollar’s Rise Lifts Imports and Widens Trade Gap
New York Times 05/05/2015
U.S. Trade Gap Shrinks by 19%, Most in Six Years
Wall Street Journal 06/03/2015
Forget the New iPhone. For Apple, It’s All About the Dollar.
New York Times 03/26/2016
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