So how will he achieve this? First you will need to devalue the dollar quite a bit against global currencies. Where imports would be more expensive and weak dollar make exports much cheaper. But our industrial base has been hollowed out, we outsource a lot of white collar jobs now to china/india. So I am not sure how he will do this. Anyone have a clue or am I missing something. http://www.cnbc.com/id/35143495
Dollar devalution will make USA goods more attractive. Couple that with yuan appreciation (more than likely to come given China's recent rhetoric regarding the need to increase domestic consumption). I believe that USA exports will inevitably increase because of these two events. Doubling exports in five years however could prove to be an unachievable goal...
The US is, by a considerable margin, the world's largest manufacturer. In fact the gap between the US and the nearest runner-up is much larger now than it was 15 years ago.
Double exports? Pulleeeeese. NOT A SNOWBALL'S CHANCE IN HELL! He's lying to give hope on one hand, while trying to shove Socialism down our throats with the other... Mostly trying to appease and calm the hoi polloi so that we don't riot and throw this ass out of office.
He said doubling exports would lead to the creation of 2 million jobs. If you doubled our real exports (which is maybe around 15-16% of the economy), that would mean 25 million jobs. So he of course then does not mean doubling total exports (which are something like 1.7T of GDP annually, merchandise+ services). I think he means merely something closer to reversing the merchandise trade deficits. Disclaimer:all these #s are off the top of my head. Check GDP #s to confirm actual #s.
Maybe you need to look deeper. Maybe US is NOT #1 in "manufactured units*", but rather only in "price of manufactured goods"... regardless, we import more than we export, and that's not to our advantage. China is already #1 in auto production if measured by "cars made"... maybe not in "total price of cars sold"..
Obama to double US exports in 5 years. But how? -------------- Gov Arnold took the first step in suggesting to export prisoners back to mexico or course we have a net net because we aren't deporting Haiti criminals. All right, forget that idea.
He's a lowlife politician and the majority of them will tell you - whatever you want to hear.......... we'll stop taxes from rising except for the robber barons We'll pull out of the middle east Jobs are coming, hold on Help is on hand if you're struggling with your mortgage Yes, we want to curb the power of big business Yes, we want to smack the big banks a bit We'll cut emmissions by 33% over the next 20 years (I always like such long term goals because if you read between the lines it means this - it's someone else's problem and not the current administrations). etc, etc, etc. It's all talk.
Maybe he meant exporting of treasuries I just do not see our exports increasing. We need to devalue our dollar quite a bit. The other problem is china will not import our goods. They will sell products made in china to their own population. China is waging economic war against the US.
To make American exports competitive with Chinese makers, we'd need to devalue the $USD enough to compensate for the labor differential... $1/hr there, $20/hr here... that means, the $USD would have to decline by 90% or so... and that would BANKRUPT NEARLY ALL US CITIZENS. Is that what we want and need? It's not even a realistic consideration....