US exports are still not either in positive balance against foreign imports, foreign domestic investment, or against GDP (Gross Domestic Product).
Not only are our exports inadequate in the aggregate, but we continue to show very limited progress in penetrating the emerging nations markets where the profitability per unit exported would be higher for reasons of lower tariffs (some of which could actually be negotiated directly with the appropriate agencies and individuals in those countries — especially in the Pacific Rim, Southeast Asia, parts of the African continent and parts of Latin America).
This represents a failure, on the part of the US (and on the part of many US-based companies) to exercise the powers of diplomacy and to invest in our domestic economy’s future due to an unwillingness to “pioneer” new territory and to learn about other cultures. And those territories are where the U.S. dollar is worth the most and the arbitrage advantage is the greatest.
Working in these parts of the world would not only serve the US economy well, but it would help us gain a competitive foothold politically in these nascent markets before they are completely beseiged by overtures (both friendly and hostile) from China and other countries which the US perceives as being adversaries in the conquest for [silly as it sounds] world domination.
Diplomatic visitation and courtship, combined with credit insurance and other insurance products would make these markets safe and profitable for some of the smaller to middle-sized US companies, which could use EXIM programs in combination with virtual export divisions (visit http://www.GetGlobalEdge.com, http://DouglasECastle.com and http://DouglasECastleConsultancy.com to learn more about the notion of virtual export and import divisions) to penetrate and dominate these smaller but growing markets.
In all of the time that we are not pursuing this course, we are missing out on 1) a higher percentage of profits per export dollar, and 2) gaining valuable political capital.
April 24-25: Export-Import Bank to Host Annual Conference
Leaders from the private and public sectors will discuss ways to boost U.S. exports and create American jobs
– The Export-Import Bank of the United States (Ex-Im Bank) will host
its Annual Conference April 24-25, 2014. The conference will focus on
the global business environment and prospects for growth. Business and
government leaders will address export opportunities and challenges for
American companies, the role of emerging markets, and the U.S. Trade
Agenda. The Bank will also celebrate 80 years of promoting American
jobs and exports.
Ex-Im Bank Chairman and President Fred Hochberg will kick off the conference with remarks Thursday morning at 9:00am EDT.
In addition, the two-day event will feature remarks, discussions, and
panels with some of the world’s leading economic voices, including Wells
Fargo Chairman and CEO John Stumpf; SpaceX CEO and Chief Designer Elon
Musk; Secretary of Commerce Penny Pritzker; Secretary of Energy Ernest
Moniz; Secretary of Agriculture Tom Vilsack; Pemex CEO Emilio Lozoya
Austin; Former Treasury Secretary and President Emeritus of Harvard
University Lawrence Summers; television host and bestselling author
Fareed Zakaria; Virginia Governor Terry McAuliffe; former U.S.
Ambassador to China Jon Huntsman; and others.
More than 1,000 lenders, insurance brokers, U.S. exporters, international
buyers, and government experts will also be in attendance. A more
detailed agenda is available at http://go.usa.gov/kXSF.
To RSVP for Ex-Im Bank’s Annual Conference, please email your name and media organization to email@example.com. On-site registration may be limited.
For coverage of morning sessions, we politely ask that all cameras arrive by 8:00am EDT.
Tags, Labels, Key Words, Categories And Search Terms For This Article: Export-Import Bank of the United States, Fred Hochberg, United States, Emilio Lozoya Austin, Terry McAuliffe, John Stumpf, Elon Musk, China, Douglas E. Castle, The Internationalist Page Blog,
- Looking South for Your Next Business Opportunities (trade.gov)
- If Exporting Is Such a Good Deal, Why Isn’t Your Company Doing It? (weblog.sba.gov)
- Mexico Still Needs Help Solving its Trillion Dollar Challenge (blogs.wsj.com)
- Obama Administration Says No to Full Environmental Study of LNG Exports (dcbureau.org)
- Barrasso supports elimination of oil export ban; Enzi noncommittal (trib.com)
- U.S. Exports Support a Record 11.3 Million Jobs in 2013 (sacbee.com)
- U.S. Exports On Rise – But The Base Rate Was One Of History’s Lowest (douglasecastle.com)
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***Follow GEI's Company Page On LinkedIn! US Exports: Less Than They Should Be, And Not Going To The Most Profitable Markets. by Douglas E. Castle