United States: Export Tiger
Barack Obama and most of the Democratic Party (as well as a sizable Lou Dobbs contingent in the Republican Party) fear trade and globalization. But like it or not, much of our economic growth is driven directly or indirectly by trade. In particular, even I found the export growth rates in this chart from Mark Perry surprisingly large:
Wiseburn:
We're shipping more and more dollars overseas to buy oil and fund war [and many other things]. The dollars are finding their way back. Some are buying products that can be exported. Others are buying bonds, stocks, buildings and non-exportable assets.
Steve
August 12, 2008, 10:43 amSolar Lad:
Others are buying bonds, stocks, buildings and non-exportable assets.
[Mr. Burns voice]: Excellent - the plan comes to fruition.
That's how we suckered the Japanese in the 80s.
August 12, 2008, 10:51 amIronman:
Not entirely unanticipated - unless the price of oil surges later this year, it looks like October 2007 will stand as the all-time peak for the U.S. trade deficit (including with China.)
August 12, 2008, 12:10 pmFranco:
I can't even count how many investment bankers I've heard talk about getting a "foreign buyer". It generally means top dollar for the company with easy deal terms.
August 12, 2008, 1:08 pmsteve:
Considering how much our currency has dropped in value, this is actually a piss poor performance. In the last 8 years alone, we have gone up 20% on a importation of oil on a BARREL basis, now multiply this by the increase in a cost per barrel. Show me our growth of exports with our growth of imports and then you have information. This is just data.
August 12, 2008, 3:14 pmMesa Econoguy:
Mmmmmmmmmmmmmmmm.............trade deficit....
August 14, 2008, 8:19 pmbbartlog:
this is actually a piss poor performance
20% year on year export growth isn't good enough for you (Q1 2007 to Q1 2008)? Personally I think it's impressive. I figured that US exports would eventually respond to the drop in the currency, but the speed of the reaction in an economy so large is really something.
August 15, 2008, 6:16 ambbartlog:
this is actually a piss poor performance
20% year on year export growth isn't good enough for you (Q1 2007 to Q1 2008)? Personally I think it's impressive. I figured that US exports would eventually respond to the drop in the currency, but the speed of the reaction in an economy so large is really something.
August 15, 2008, 6:17 am