Evanomics Made in America BBC News

uk Accessibility Links Skip to content Skip to bbc. uk navigation Skip to search Access keys help bbc. Websites such as usmadetoys. com offer lists of US products that don t bite or poison you. This site offers an eco friendly four tips on buying lead free toys made in the US. Or look at the poll on Chinese goods on the website of Duncan Hunter a presidential candidate. The mass media is talking the issue up. But it was still smaller than the September before. Imports were up by . But exports were up by . This is of course exactly what the US economy needs. And reduced imports will help as well. What is good for the US may not feel good to the rest of the world of course. In many respects we have become more used to the US as a customer not a competitor. But it is only fair the US needs to improve its position more than anyone else. Its deficit last year was over of its whole GDP. But that being said trade is a small but volatile portion of GDP. It can! grow or contract more than the personal consumption typically does for example. Those exports growing at for example . So let s not diminish the role for trade too quickly. I think there are two other challenges for the US in trying to improve its trading position. First is the idea the problem of oil. Growing exports at per year year after year will be no mean feat. I spoke to Professor Joseph Stiglitz yesterday pictured . Microsoft won t be stealing market share from the Europeans because the dollar has made it more competitive. It s an interesting argument. If Professor Stiglitz is right growing exports won t be helping out much. It ll have to be shrinking imports if anything that will sort out the trade deficit. Which I suppose is where the Made in America fad comes in. The political backlash has been remarkable in its absence but the dam my well be about to burst. In the short term maybe a hard recession is really good for us Americans. Call it passive a! voidance of reality. The problem is in a word oil. If these supplier refuse Dollars and insist on other currencies the U. will have to buy those currencies at the going rate. So where will the dollar fall to My guess is oil a barrel dollar at and . Don t say it can t happen it can. Not to mention that Apple may become affordable for more people. I ll be envious when the Brits that could own the Tesla. It s only be . Euros Final thought with the weak publishers are making more money with books sold in Canada. What the rest of the world wants or needs from the US it already buys. My understanding is that a developer is double the price in London compared to New York. In other words there is a supply side advantage rather than a demand side one . There is a reaction to this monopoly because of Microsoft s arrogance . This doesn t only apply to the States you could have stayed here and written that about Britain. This blog is my attempt to understand the real world using the tool kit of economics.

Source: http://www.bbc.co.u! k/go/rss/-/blogs/thereporters/evandavis/2007/11/made_in_america.html


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