Global Economy

Trade and training the American Workforce: Enhancing on-the-job worker training

The future of American innovation, growth, and prosperity depends on a highly-skilled, well-trained workforce. Most of tomorrow’s workers are already on the job—enhancing and updating their skills to compete in the high-tech global market place is key to sustaining American competitiveness. Key Findings: Worker skills are key to economic opportunity and competitiveness for the U.S. […]

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Global Economy

Trade and Inequality: Cause? Cure? Diversion?

Trade is not the central issue in inequality, nor is trade policy the main element of a solution. But creative agreements, enforcement of rules for lower-income exporters and intellectual property holders, and willingness to reform the existing trade regime in the interest of lower-income families would all be useful complements to a response, centered in domestic policy and aimed to support growth and raise living standards in middle- and low-income levels of the American economy.

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Global Economy

U.S. tariffs are 150 times higher on Cambodian goods than on Venezuelan goods.

Clothes and shoes are heavily taxed; accounting for 5 percent of imports, they usually bring in half of all tariff money. Therefore, in the absence of FTAs or developing-country tariff waivers, countries like Cambodia that make lots of them face high rates. High-tech products like phones and medicines, as well as natural resources like the chalk and oil, are rarely taxed at all. So countries that assemble lots of phones, produce lots of medicine, or (like Venezuela) pump lots of oil don’t see many tariffs.

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Global Economy

60 export credit agencies operate worldwide.

ProgressiveEconomy’s latest paper argues for renewal of the Ex-Im Bank’s charter on four grounds:

(a) A useful support for export-based growth in the immediate future, with the U.S. economy continuing to need to tap foreign demand in the long recovery from the 2008-2009 financial crisis;

(b) An important means to support large-scale sales of power equipment, urban infrastructure, aviation, and other long-term contracts for developing countries where private credit is less easily available, and also a way to help introduce new exporters and smaller businesses to exporting;

(c) A valuable lender-of-last-resort tool to be kept in reserve in the event of future financial crisis and sudden collapses of private credit; and

(d) A matter of legitimate national self-interest, ensuring that in a world of $300 billion or more in annual public credit, the agencies run by other governments do not place U.S.-based businesses and their workers at impossible disadvantages.

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Global Economy

Four states have doubled exports since 2009: New Mexico, Louisiana, Texas, & North Dakota

THE NUMBERS: Export shares of GDP, 2013 * – U.S. National 9.5% Top 6 States – Louisiana 25.0% Washington 20.0% Texas 18.2% South Carolina 14.3% Kentucky 13.8% Vermont 13.7% * Merchandise only, as services exports are not available by state. The U.S.’ national export share of GDP is 9.5 percent for goods alone (used above […]

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