Wisconsin Public Radio

Manufacturing is still critical to the economy United States. Clyde Prestowitz, says it's time to start realizing the positive spillovers that manufacturing creates... Read more  

Events & Activities

Stephen Olson at Chinese Development Institute Conference

 

 Clyde Prestowitz giving presentation to CDI...

 

Steve Olson teaching trade negotiations at the Mekong Institute...

 

Stephen Olson to speak at upcoming workshop organized by the International Institute for Trade and Development on 

"Economics of GMS Agricultural trade in goods and services towards the world market"

Chiangmai, Thailand Sep 8-12.

(07/06/10) Hindery quotes Prestowitz on FTAs and trade imbalances

Leo Hindery, Jr.

Chairman, U.S. Economy/Smart Globalization Initiative at the New America Foundation
Posted: July 6, 2010 09:31 AM


"Doubling U.S. Exports" Not a Sufficient Jobs Policy: Not Even Close

In his January State of the Union Speech, President Obama first committed his administration to the goal of doubling U.S. exports within five years. Mr. Obama said that this will "create two million jobs, about the same number that the U.S. manufacturing sector has shed during this economic downturn." His administration spokesman said just the other day that "the U.S. is on track to hit this export target."

There are three problems with this pledge. First, doubling U.S. exports would create just 10 percent of the 22 million new jobs we need, and yet, combined with multiple new free trade agreements (FTAs), it seems to be the only specific jobs policy coming from the White House. Second, this strategy wrongly overshadows the more critical imperative of 'import substitution'. Third, the first three FTAs being proposed -- with South Korea, Panama and Colombia -- are very poorly negotiated and will cause even more American jobs to be lost overseas.

Click Here to read the the entire article at the Huffington Post.

Join our mailing list

Latest Publications


The Betrayal of American Prosperity.


The Trans-Paific Partnership and Japan.


Making the Mexian Miracle.


Industrial Policy and Rebalancing in the US and China.


The Evolving Role of China in International Institutions.

 

Contact us

Economic Strategy Institute

1730 Rhode Island Avenue, NW, Suite 414 |  Washington DC  |  20036
Ph (202) 213-7051  |  Fax (202) 965-1104  |  info@econstrat.org