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Clarifying America's No-Win Economic Dilemma [View article]
Some of the developments taking place in India and China can be attributed to our outsourcing employment to those countries, contributing in part to the emergence of their respective middle classes.
Knowing the US consumer is down and out, from a policy perspective we should be doing everything possible to exploit these global developments by developing an export policy which would support current value-added exporters (Boeing, BASF, ADM, CAT, GE, 3M) and others positioned to best mine the new wealth being created in emerging markets. An excellent starting point would be to streamline export controls imposed by the State Department and other agencies to protect technologies and components critical to national security.
Because of bureaucratic overlap and poorly written guidelines, many companies find it difficult to obtain export licenses and rightly argue that the US is crippling its own export industry.