The president in an attempt to jump start exports in an effort to help with the unemployment issue facing Americans is working to double exports in five years. The presidents plan calls for lending to small and medium sized businesses and a new czar to oversee the process, reporting to the cabinet. Many are speculating that because American goods are expensive through production costs the global economy is not ready for a surge in American exporting. One strategy being explored is that of technology to make up for manufacturing. To help propel the technology export theory the administration is working to change the export controls which can limit what technologies are permitted to trade. The trade team that is reporting to the president are comprised of former blue chip business executives.
http://www.nytimes.com/2010/03/12/business/economy/12trade.html
Monday, March 15, 2010
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